Indian paint market is “big”
November 15, 2017
Recently,India paint consumption is per 2.57kgs what is far lower than per consumption of global 20kgs and Asian 5kgs.
Quantity demanded is 310thousand tons in Indian paint market,among which 71% is decorative coating and the overplus 29% of industrial coating.While the two industries appears strong growth in recent years.The market demand for the second and three tier cities is growing,and in fact,the growth rate has exceeded that of the first tier cities.
With 2012 sales of $4 billion 790 million and compound annual growth rates of 13% over the past five years,India is developing into one of the major markets in the global paint and coatings industry.
Relevant data show that India coatings market potential is huge,from 2013 to 2017 period, is expected to be two digit growth rate continued to grow.Paint coating industry predicts to be 14% compound annual growth rate to grow,that be over$90billion in 2017year and over 4kgs per consumption.
So far,high quality paint more and more prefer to using organic pigment and phashing out heavy metal pigments,that is a new transfer trend.Enterprises will bring great business chance in Indian coating market who adjust to this development trend.Compared to other developing countries and areas,Indian family consumption belongs lower,so it has huge growth potential in Indian paint market.