India Decorative Paints Market is expected to grow at a CAGR of 13.37% Through 2030

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.” India Decorative Paints Market was valued at USD 8.5 billion in 2024 and is expected to reach USD 18.21 billion by 2030 with a CAGR of 13.37% during the forecast period. 

One of the primary drivers of the India decorative paints market is the rapid urbanization and infrastructure development occurring across the country. With millions of people migrating to urban areas in search of better opportunities, India’s urban population is growing at a rapid pace. According to the United Nations, India’s urban population is expected to constitute more than 50% of its total population by 2031, which significantly contributes to the demand for residential and commercial properties. This urbanization surge leads to the construction of new residential buildings, commercial spaces, and infrastructure projects such as airports, roads, and shopping malls. As the demand for new homes and office spaces increases, so does the need for decorative paints. Urban dwellers seek aesthetically pleasing interiors and exteriors, driving demand for high-quality paints that enhance the overall appeal of buildings. Similarly, commercial establishments, such as retail outlets, hotels, and restaurants, also focus on creating visually appealing environments for customers, further boosting the demand for decorative paints. Additionally, large-scale government initiatives such as the "Smart Cities Mission" and "Housing for All by 2022" are fostering infrastructure and residential development in urban and rural regions, directly benefiting the decorative paints market. The construction boom, driven by urbanization, is expected to continue in the coming years, providing sustained growth opportunities for decorative paints.

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Based on product type, Solvent Based segment held the largest market share in 2024, 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.

Based on region, North India is the fastest-growing region in the India decorative paints market due to a combination of rapid urbanization, infrastructure development, and increasing consumer demand for aesthetic and durable building materials. Several factors contribute to this growth, making North India a key driver in the overall expansion of the decorative paints industry.

North India, particularly in states like Uttar Pradesh, Haryana, Punjab, and Delhi, is experiencing rapid urbanization. As cities and towns expand, there is an increased demand for residential, commercial, and industrial buildings, all of which require decorative paints for both aesthetic and protective purposes. The ongoing infrastructure projects under government initiatives like the Pradhan Mantri Awas Yojana (PMAY) and the Smart Cities Mission further fuel this demand. These initiatives are focused on creating affordable housing and modernizing urban spaces, where high-quality paints are essential for achieving desired finishes and durability.

With the growing middle-class population in North India, there is a noticeable rise in disposable incomes. As a result, more consumers are opting for premium decorative paints that offer better finishes, eco-friendly solutions, and longer-lasting protection. This trend is particularly prominent in urban centers where consumers are becoming more discerning in their choices. Additionally, the increasing awareness of interior design and aesthetics is driving demand for innovative and customized paint products, further propelling market growth.

The diverse climate conditions in North India, ranging from extreme winters to hot summers, also influence the demand for decorative paints. High-quality paints that offer protection against harsh weather, UV rays, and moisture are sought after. Products with features like weather resistance and thermal insulation are in high demand for both interior and exterior applications.

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
• Esdee Paints Limited
• Acro Paints Limited
• Indigo Paints Limited

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“The India decorative paints market presents significant growth opportunities driven by the rapid urbanization, rising disposable incomes, and a growing middle-class population. The demand for premium and eco-friendly paint solutions is increasing, supported by government initiatives such as affordable housing and smart city projects. The growing preference for aesthetically appealing interiors and exteriors in both residential and commercial spaces further fuels market growth. The increasing adoption of digital tools for color visualization and innovation in paint technologies presents new avenues for manufacturers to meet evolving consumer needs and expand their market presence in this dynamic sector.” said Mr Karan Chechi, Research Director of 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 2020- 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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