India Decorative Paints Market is expected to grow at a CAGR of 13.37% Through 2029
The growing building & construction industry and shortening
of the re-painting cycle are driving the India Decorative Paints market across
the country.
According to the TechSci Research report, “India Decorative Paints Market -
By Region, Competition, Forecast & Opportunities, 2030F.” The India Decorative Paints Market is expected
to register a CAGR of 13.37% during the forecast period owing to the growing building
& construction industry, urbanization, the shortening of the re-painting
cycle, and technological advancements among others, across the country.
Enhancing
a surface's esthetic attractiveness is the goal of decorative paints. They are
frequently used both indoors and outside, for things including walls, ceilings,
and other decorative components. Decorative paints are a flexible tool that
both homeowners and interior designers can use to give their spaces a
distinctive look and feel since they are offered in a broad variety of colors,
textures, and finishes. The driving factor for the growth of the
decorative paint market in India is the shortening of re-painting cycles. With
changing lifestyles, increasing disposable incomes, and rising aspirations,
people are more inclined to renovate and redecorate their homes at shorter
intervals. This has led to a higher demand for paints and coatings to give
homes a fresh look and protect them from external damage.
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TOC on the "India Decorative Paints Market."
Based on product type, the market is dominated by Solvent Based segment, In the India Decorative Paints market, the Solvent Based segment holds a prominent position based on product type, driven by its unique characteristics and wide-ranging applications. Solvent-based paints, which typically use organic solvents like alkyds or polyurethanes as the primary carrier, offer several advantages that appeal to consumers across residential, commercial, and industrial sectors.
One of the key factors contributing to the dominance of the Solvent Based segment is its exceptional durability and robustness. These paints form a tough, protective film when applied to surfaces, providing superior resistance to abrasion, weathering, and harsh environmental conditions. This makes them particularly suitable for exterior applications where exposure to elements such as sunlight, moisture, and pollutants requires a high level of protection.
Another significant advantage of solvent-based paints is their excellent adhesion to various substrates, including metal, wood, and concrete. This adhesive property ensures long-lasting performance and minimizes the need for frequent repainting, appealing to consumers seeking durable and low-maintenance solutions for both residential and commercial projects.
Solvent-based paints are valued for their versatility in achieving a wide range of finishes and effects, from glossy and satin finishes to textured and matte surfaces. This versatility allows consumers to customize their living or working spaces according to personal preferences and aesthetic requirements, enhancing the overall appeal and value of the property.
Despite the growing popularity of water-based paints (emulsions) due to environmental concerns, solvent-based paints continue to dominate certain segments of the market, particularly in industrial and high-performance applications. Industries such as automotive, marine, and heavy machinery rely on solvent-based paints for their exceptional durability, corrosion resistance, and ability to withstand extreme conditions.
The dominance of the Solvent Based segment is not without challenges. Environmental regulations governing VOC emissions pose a significant constraint, as solvent-based paints typically have higher VOC content compared to water-based alternatives. As regulatory standards become stricter to mitigate environmental impact and improve indoor air quality, manufacturers are increasingly pressured to innovate and reformulate solvent-based paints to meet compliance requirements without compromising performance.
In response to these challenges, paint manufacturers are investing in research and development to develop low-VOC and eco-friendly formulations within the solvent-based category. These efforts aim to address environmental concerns while retaining the performance characteristics that make solvent-based paints desirable in certain applications.
The Solvent Based segment remains a dominant force in the India Decorative Paints market, valued for its durability, versatility in finishes, and widespread applications across residential, commercial, and industrial sectors. While facing regulatory challenges related to VOC emissions, ongoing innovation and adaptation to environmental standards are crucial for sustaining its market position and meeting evolving consumer preferences in India's competitive decorative paints landscape.
Key market players in the India
Decorative Paints market include:
- Asian Paints Limited
- Berger Paints India Limited
- Akzo Nobel India Limited
- Kansai Nerolac Paints Limited
- Shalimar Paints Limited
- Sheenlac Paints Limited
- Acro Paints Limited
- Ecopaints Private Limited
- Esdee Paints Limited
- Indigo Paints Limited
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“The India Decorative Paints market is expected to boost in the upcoming years
owing to urbanization and nuclearization of families, shortening of re-painting
cycle, growing building and construction industry among others across the
country. There are various initiatives by the government such as housing for
all, Pradhan Mantri Awas Yojana, Rajiv Awas Yojana, Delhi development scheme,
among others are likey to propel the market of decorative paints across the
nation. Additionally, the Union Government invested such as of August 22, 2022,
122.69 lakh residences under the Pradhan Mantri Awas Yojna (PMAY-Urban) plan
had been approved, 103.01 lakh had been built, and 62.21 lakh had been
completed. .Furthermore, the Dubai government and India government agreed
to establish industrial parks, information technology towers, multifunctional
towers, logistical hubs, medical colleges, and specialized hospitals in Jammu
and Kashmir. Therefore, the market for decorative paints across
the country is expected to rise during the forecast period, 2025-2030F,” said Mr
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India Decorative Paints Market By Product Type (Water Based, Solvent Based), By Type of Paint (Emulsion, Enamel, Distemper, Primer, Textures, Others),
By
Application (Exterior, Interior), By
Sales Channel (Offline, Online), By End User (Residential, Non-Residential), By Region, Competition, Forecast
& Opportunities, 2030F”, has evaluated the future growth potential of the India Decorative
Paints market and provides statistics and information on market structure,
size, share, and future growth. The report intends to provide cutting-edge
market intelligence and help decision-makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the India Decorative Paints
market.
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