India Paint Market Overview, Industry Growth Rate, Research Report 2024-2032
India Paint Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 5.30% (2024-2032)
Market Size in 2023: USD 6.82 Billion
Market Size in 2032: USD 11.24 Billion
The India paint market is growing due to rising construction activities, urbanization, and demand for decorative and industrial paints. According to the latest report by IMARC Group, the market size reached USD 6.82 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 11.24 Billion by 2032, exhibiting a growth rate (CAGR) of 5.30% during 2024-2032.
India Paint Market Trends and Drivers:
A combination of factors such as expanding urbanization, increased construction activities, as well as rising disposable incomes are responsible for the growth of the India paint market. Additionally, the market is propelling owing to the booming real estate sector, along with government initiatives that have significantly boosted demand for both decorative and industrial paints across urban and rural areas.
Decorative paints dominate the market as homeowners invest in repainting and home improvement, influenced by evolving lifestyle trends and a preference for aesthetically pleasing interiors. Moreover, a growing middle class with higher spending capacity is seeking premium paints with advanced features like stain resistance, anti-microbial properties, and eco-friendliness, thus driving innovation among manufacturers.
A strong shift toward eco-friendly and sustainable products is augmenting the India paint market. In addition to this, consumers are opting for low-VOC (volatile organic compound) and odorless paints, pushing companies to focus on green formulations with increased awareness of health and environmental impacts. Digitalization and e-commerce are also impacting the market as major paint brands leverage online platforms to reach a broader audience, offering virtual color consultations and home delivery options.
Furthermore, advancements in technology, such as anti-dust and weather-resistant coatings, are expanding the functionality of paints in various climates. The adoption of mechanized painting tools by professional service providers is another trend boosting efficiency and quality in application. The high needs of a modern, sustainability-conscious consumer base are anticipated to drive the India paint market in the coming years.
Request for a sample copy of this report: https://www.imarcgroup.com/india-paint-market/requestsample
India Paint Market Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Technology:
- Water-based
- Solvent-based
Breakup by Type of Paint:
- Emulsion
- Enamel
- Distemper
- Textures
- Others
Breakup by Resin:
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
Breakup by End User:
- Architectural and Decorative
- Non-Architectural
- Automotive and Transportation
- Wood
- General Industrial
- Marine
- Others
Breakup by Region:
- North India
- South India
- West and Central India
- East and Northeast India
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=24362&flag=C
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
English
Arabic
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian