Chemicals & Fertilizers - #SectorUpdates
The Indian paint industry is over 100 years old. The decorative paint market includes multiple categories depending on the nature of the surface like exterior wall paints, interior wall paints, wood finishes, enamels as well as ancillary products like primers, putties, etc. The industrial paint category constitutes the balance 25% of the paint market and includes a broad array of segments like automotive coatings, marine coatings, packaging coatings, powder coatings, protective coatings and other general industrial coatings. The coatings and paints industry has been growing at a CAGR of 11% growth in the last five years. The total paint industry is valued at about Rs. 61,000 crore in 2021, consisting of decorative and industrial paints. The decorative paint industry is about 74% or Rs. 45,000 crore which is the major segment. Going ahead, it is expected that industry will grow at about 13% CAGR and by 2025, it is expected to reach Rs. 122,000 crore.