Paints & Coatings Industry
India paint & coating market is growing with double digit CGR currently due to huge market potential in untapped rural market
IDEX India Products for paints & coatings Industry
Growth Drivers
- Huge Market Potential: India has a low per capita paint consumption (1/3rd) of global level with untapped market in Tier II & III cities where paint companies are diversifying
- Largest house buying population: Construction market growing at 9% with boost for affordable housing to support large housing needs of middle class
- New Emerging Premium Products: Emerging premium products in wood paints, growing emulsion consumption leading to growing high value paints consumption with rising consumer preferences
- Shortening repainting cycle: Due to rising income levels & which is leading to higher consumption in decorative paints which is growing at 12% CAGR
- Booming automobile & construction sector: Industrial paints growing due to demand from automobile & construction industry
