The Indian paint industry has witnessed enormous
growth over the past few years. The industry has been
driven by rapid urbanization, growing economy and an
increase in the disposable incomes.The market has also
seen a change in the demand scenario over the years,
with an increase in the use of water based paints.
Moreover, new trends like usage of paints with low
VOC, no added Lead, Mercury, Chromium, odourless
paints are catching up in the market, putting the
market on a growth trajectory
Figure 4-2: Paint Market (Billion US$),
2011-12 to 2015-16
India has large middle-class population, who are always
in need and want of a high standard of living, but are often
controlled by their tight budget. The mid-tier segment of
paint market caters this class of population. Due to the
large size of this product class, mid-tier paint market holds
the highest share in India’s total decorative paint market.
Additionally, the comparatively low cost and appearance
similar to premium class paints make these products high
in demand. Thus, the mid-tier paint market is expected to
cross US$ 2.27 Billion by FY 2015, growing at a CAGR of
around 11.3% during FY 2012 to FY 2015.
Figure 6-23: Mid-Tier Paint Market (Billion US$),
FY 2010 to FY 2015
• Increasing Adaptability to Consumer’s Color
• Growing Popularity of Water-based Paints
• Introduction of breakthrough Technologies
• Increasing Competition
• Increasing Raw Material Costs
• Growing Demand for Other Alternatives to
• Less Penetration of Organized Players in Rural
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