Major capacity expansion forecast as demand for coatings continues to rise

摘要

The Indian paint industry, valued at INR190bn, (US$4.17bn)*, is perhaps one of the most unique paint and coating markets in the world. Growing at a very healthy compound annual growth rate (CAGR) of 18% for the past five years (with minor blips during the 2008 recession), it offers immense opportunities to both domestic and international paint manufacturers. Growth potential in the industry is also very high, considering that per capita consumption stands at an abysmally low level of 1.54kg. The top four players - Asian Paints, Nerolac, Berger and ICI -account for 60% of the market share, with the rest of the market highly fragmented and more than 33% unorganised.