Paint Market in India states that the industry in India is driven by
growth in not only construction activities but also in automotive industry.
Media exposure and innovative marketing initiatives by the players have only
added to increasing awareness about latest trends prevalent in the sector. Due
to increased Government funding for infrastructure, demand for paints both in
industrial and decorative segment is set to rise, thereby rendering Indian
paint industry to be poised for further growth.
A further analysis of the key drivers and challenges of the market
indicate the factors for growth of the market including growth in real estate
construction, growth in automotive industry, growth in industrial sector,
growth in disposable income, low penetration and increased Government
expenditure on infrastructure. India is an emerging economy and with a rising
GDP and the subsequent growth in industrial activities and infrastructural
developments. Aided with increased Government spending on infrastructure in
India, market is optimistic about its impact on the paint industry. For new
constructions, paint has become an integral component of the development stage.
Another factor boosting the market is the growth in the automotive industry
which creates huge demand for industrial paints. Further, with enhanced level
of communication in terms of media exposure, awareness about latest trends
governing the sector has reached a whole host of consumers. Fulfilling needs to
look unique becomes possible with more disposable income at the hands of people
which is seen to be on an upward trend. Moreover, low per capita consumption of
paints in India provides enough opportunity for further growth in this sector.
However, the sector is also facing certain challenges. Factors like rising
input prices and stringent environmental regulations pose as a barrier for
growth. To conclude, the paint industry has a promising future in India,
provided players in the market implement innovation and cutting edge technology
to combat the negative factors.
Spanning over 82 pages, “Paint
Industry in India 2015” report covers the Executive Summary, Macroeconomic
Indicators, Introduction, Market Overview, Import - Export, Drivers &
Challenges, Trends, Competitive Landscape, Strategic Recommendation, Appendix.
The report covered companies are - Akzo Nobel India Ltd., Asian Paints Ltd.,
Berger Paints India Ltd., Jenson Nicholson India Ltd., Kansai Nerolac Paints
Ltd., Shalimar Paints Ltd., Jotun India Pvt. Ltd., Nippon Paint India Pvt.
Ltd., Snowcem Paints Pvt. Ltd.
For
further information on this report, please visit- http://mrr.cm/4GE
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