The India Paints industry to reach USD 12,430 million by 2017: Ken Research

PITAMPURA, India - April 8, 2013 - PRLog -- India was the second largest paint market in the Asia-Pacific region in FY’2012, preceded by China. Growing personal disposable incomes, rising urbanization, increase in the constructional activity across residential and commercial sectors, development in the infrastructure and industrial production are some of the prime factors which drive the growth of the India paint industry.

The paint industry in India has witnessed a double digit growth in recent years which has been consistent with the GDP growth rate. The paint consumption of India was just 2.5kgs in FY’2012, as compared to a global average of 15kgs, which reflects huge potential for growth in this industry. The paint industry in India is marked by presence of organized and unorganized segments with organized segments claiming the greater market share over the years. The paints products are primarily used for decorative and industrial purposes. The decorative paints market is characterized by a broad assortment of paint products varying in terms of quality and cost. The industrial paints market, on the other hand is technology oriented with the major market players relying upon their foreign collaborations for the technical specifications for the manufacture of paints. The India paints industry revenues have increased from USD 2,090 million in FY’2006 at a CAGR of 19.0% during FY’2006-FY’2012.

According to the research report “India Paints Industry Outlook to 2017 - Rising Urbanization and Advent of Environment Friendly Paints” by Ken Research, the India Paints market would grow at a considerable CAGR rate thus exceeding USD 12,430 million by 2017 due to the major thrust from rising urbanization and growing disposable incomes.

“The increasing population in both rural and urban areas coupled with the increasing disposable incomes, will facilitate the growth of the industry as the demand for paints will augment from both the new constructions of the residential units as well from the repainting segment as aesthetic tastes improve”, according to the Research Analyst, Ken Research.

The report provides detailed overview on the paints market in India and aids readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, paint companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

For more information on the industry research report please refer to the below mentioned link:

http://www.kenresearch.com/consumer-products--retail/spec...