Paints Industry In Paint Industry

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Specialty chemicals are defined as a "group of relatively high value, low volume chemicals known for their end use applications and/ or performance enhancing properties." In Contrast to base or commodity chemicals, specialty chemicals are recognized for 'what they do' and not 'what they are'. Specialty chemicals provide the required 'solution' to meet the Customer application needs. It is a highly knowledge driven industry with raw materials cost (measured as percentage of net sales) much lower than for commodity chemicals. The critical success factors for the industry include understanding of customer needs and product/application development to meet the same at a favorable price-performance ratio. In India it has been growing rapidly at 1.2-1.3x …show more content…
In India per capita consumption of paints is very low at around 1.5Kg, as against 10-15 kg in developed markets and 4Kg in China indicating substantial potential for growth. Paints industry can be broadly classified into 2 segments – Decorative and Industrial paints. Decorative paints accounted for 72% of the total Indian paint industry and are expected to grow at 15% per annum in the next decade. Decorative paints are widely used in building and construction industries for wall finishes, both interior and exterior. This segment is relatively price sensitive compared to industrial paints. Industrial paints are used for coating applications including automobiles, consumer durables, marine equipment and industrial components. Indian paint industry has the potential to grow at a CAGR of ~17.5% in next 2 years to become INR396bn industry by 2015-16. Indian paint industry growth is closely related with the GDP growth rate and has grown on an average1.5-2x GDP growth rate since …show more content…
Industry has experienced dynamic changes in the last decade in terms of changing environment and structure which propelled it to a high growth trajectory. However, India per capita consumption of paints is still abysmally low at 1.5Kg/annum compared to world average of 15Kg and 25Kg for US. It is even lower than Sri Lanka with per capita consumption of 3.5/Kg. This however indicates tremendous opportunity for paint industry which is currently highly
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