Growing Industrial Base Propelling the Growth of Industrial Paint

The efforts and investment put in by the consumer durable companies to cash in on the demand the industry which proportionally significant rise in demand of the paint industry, says RNCOS in its latest research report.

The paint industry in India has witnessed growth in recent years on account of rising in the per capita income, launching of innovative products by companies, rise in consumer standard of living, and rise in demand from rural areas. All these factors are the integral driver which backing the growth of the paint industry in India. The Indian paint industry is expected to grow at a CAGR of 12% during forecast period 2016-17 to 2021-22.

According to our report, ?India Paint Industry Outlook 2022?, the industrial paint having the valuable shares in the overall paint market. Industrial paint constituted almost 24% in the overall paint market in 2015-16. Moreover the automobile segment generates the maximum demand for the industrial paints. Therefore, boost in the automobile sector demand in India led to boost the demand of the industrial paint in India. Apart from automobiles sector other powder coating, coil coating and marine coating growth have the significant role in propelling the demand for the paint in the Industry.

Industry paint demand is directly correlated with the increase in the demand of the industrial goods. Due to government initiative of "make in India" various durable goods companies planning to establish his manufacture units in the various parts of the India which will generate the demand for the paints. Therefore, with increase in the manufacturing units led to boost the demand for the industrial paint. Hence, immense opportunities are present in the future for the growth of the paint industry in India.

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