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Paint & Coating Market in India Up for Exciting Times Ahead with a CAGR of 24% | An Aranca...
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©2014 Aranca. All Rights Reserved. www.aranca.com If you wish to reproduce or use this infographic in any format, please email us at [email protected] Compiled by: Mansi Choksi Aranca’s Views The Indian paint and coatings market is anticipated to expand in the coming years owing to increasing infrastructure and real estate development. Furthermore, new innovative products such as paint with weather protection, low volatile organic content, and eco-friendly are believed to drive the market. In rural India, the demand for paint and coatings is expected to rise with increase in disposable income and aspirations for an improved standard of living. As a result , the rural market is forecasted to become a target market for many industry players in the coming year. Paint and Coatings Market Turning India Colorful The paint and coatings market in India is expected to witness a CAGR of 23.58% between FY2014* and FY2017*, mainly driven by a surge in the decorative segment and increased rural demand. FY2014 406 620 The high growth is mainly driven by increased disposable income, rising educational levels, increasing demand for infrastructure, growing urbanization, and improved flow of new products in the market. FY2017F The Indian rural paint and coatings market witnessed a growth of around 20% during FY2014. With increasing rural development, the demand for paint and coatings is expected to get a further boost in the coming years. CAGR : 23.58% Indian Paint and Coatings Market Size (INR Billion) Demand and Supply Side Dynamics 65% 35% Some of the leading players in the organized sector comprise Asian Paints, Kansai Nerolac, Berger Paints and ICI. The decorative segment is led by Asian Paints followed by Berger Paints. In the industrial segment, Kansai Nerolac dominates the space. In the unorganized sector, there are around 2,500 companies with units having small-and medium-sized paint manufacturing plants. Key Trends and Opportunities Industries (INR110 Billion) Decorative (INR296 Billion) In India, a large proportion of demand for decorative paints comes from households during festivals such as Dusherra, Diwali, Onam, and Christmas/New Year. The demand for decorative paint is anticipated to witness a CAGR of more than 18% during FY2015*. Unorganized Indian Paint and Coatings Market Segmentation Indian Paint and Coatings Market Share Organized FY2014: INR406 Billion Low share of the Indian paint industry in the global and Asia-Pacific market, accompanied with low per capita consumption,depicts that the market is not saturated and offers lucrative opportunities for expansion and growth An increasing population of young and middle class in India with aspirations for improved standard of living has led to changing spending habits, especially in the country’s rural areas. In recent times, paint companies have been introducing premium products with features such as weather protection, low volatile organic content, and eco-friendly production. Government reforms in real estate and infrastructure sectors, such as easing of foreign direct investment (FDI) norms in real estate, raising exemption levels for housing loans, and upcoming new cities development project, would boost growth in the paint and coatings market in India. Interesting Facts In the next five years, the Indian paint industry is estimated to rise at a rate of 1.5 –2 times in the GDP. During FY2014… The share of the Indian paint industry in the global paint market was 4.6%; The per capita consumption of paint in India was 4 kg, below the global average of 10–13 kg; In terms of volume, the Indian paint and coatings market accounted for 15% of the Asia-Pacific market, which comprised nearly 44% of the total global market. *FY2014 implies financial year 2013–14, FY2015 imples financial year 2014-2015 and FY2017 implies financial year 2016–17 Source: ASSOCHAM, India Chem Gujrat report, FICCI, Oct 2013; Berger Paints India Profile, Tata Securities, April 2012; AkzoNobel Investor Presentation, Mar 2013 FY2014: INR406 Billion
Transcript of Paint & Coating Market in India Up for Exciting Times Ahead with a CAGR of 24% | An Aranca...
©2014 Aranca. All Rights Reserved. www.aranca.comIf you wish to reproduce or use this infographic in any format, please email us at [email protected]
Compiled by: Mansi Choksi
Aranca’s Views
The Indian paint and coatings market is anticipated to expand in the coming years owing to
increasing infrastructure and real estate development. Furthermore, new innovative products
such as paint with weather protection, low volatile organic content, and eco-friendly are believed
to drive the market. In rural India, the demand for paint and coatings is expected to rise with
increase in disposable income and aspirations for an improved standard of living. As a result ,
the rural market is forecasted to become a target market for many industry players in the
coming year.
Paint and Coatings Market
Turning India Colorful
The paint and coatings market in India is expected to witness a
CAGR of 23.58% between FY2014* and FY2017*, mainly driven by
a surge in the decorative segment and increased rural demand.
FY2014
406
620
The high growth is mainly
driven by increased disposable income,
rising educational levels, increasing demand for infrastructure, growing
urbanization, and improved flow of new products
in the market.
FY2017F
The Indian rural paint and coatings
market witnessed a growth of around 20% during
FY2014. With increasing rural development, the demand for paint and coatings is
expected to get a further boost in the
coming years.
CAGR : 23.58%
Indian Paint and Coatings Market Size (INR Billion)
Demand and Supply Side Dynamics
65%
35%
Some of the leading players in the
organized sector comprise Asian
Paints, Kansai Nerolac, Berger Paints
and ICI. The decorative segment is
led by Asian Paints followed by
Berger Paints. In the industrial
segment, Kansai Nerolac
dominates the space.
In the unorganized sector, there are
around 2,500 companies with
units having small-and
medium-sized paint
manufacturing plants.
Key Trends and Opportunities
Industries (INR110 Billion)
Decorative (INR296 Billion)
In India, a large
proportion of demand
for decorative paints
comes from households
during festivals such
as Dusherra, Diwali, Onam,
and Christmas/New Year.
The demand for decorative
paint is anticipated to
witness a CAGR of
more than 18%
during FY2015*.
Unorganized
Indian Paint and CoatingsMarket Segmentation
Indian Paint and Coatings Market Share
Organized
FY2014: INR406 Billion
Low share of the Indian paint industry in the global and Asia-Pacific market, accompanied with low per capita consumption,depicts that the market is not saturated and o�ers lucrative opportunities for expansion and growth
An increasing population of young and middle class in India with aspirations for improved standard of living has led to changingspending habits, especially in the country’s rural areas.
In recent times, paint companies have been introducing premium products with featuressuch as weather protection, low volatile organic content, and eco-friendly production.
Government reforms in real estate and infrastructure sectors, such as easing of foreign direct investment (FDI) norms in real estate, raising exemption levels for housing loans, and upcoming new cities development project, would boost growth in the paint and coatingsmarket in India.
Interesting Facts
In the next five years,the Indian paint industry is estimated to rise at a rate of 1.5 –2 times inthe GDP.
During FY2014…
The share of the Indian paint industry in the global paint market was 4.6%;
The per capita consumption of paint in India was 4 kg, below the global average of 10–13 kg;
In terms of volume, the Indian paint and coatings market accounted for 15% of the Asia-Pacific market, which comprised nearly 44% of the total global market.
*FY2014 implies financial year 2013–14, FY2015 imples financial year 2014-2015 and FY2017 implies financial year 2016–17
Source: ASSOCHAM, India Chem Gujrat report, FICCI, Oct 2013; Berger Paints India Profile, Tata Securities, April 2012;
AkzoNobel Investor Presentation, Mar 2013
FY2014: INR406 Billion
