According to IMARC Group’s report titled “India Paint Market Report by Technology (Water-based, Solvent-based), Type of Paint (Emulsion, Enamel, Distemper, Textures, and Others), Resin (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), End User (Architectural and Decorative, Non-Architectural), and Region 2025-2033“, the report presents a thorough review featuring the India paint market trends, share, growth, and research of the industry.
How Big is the India Paint Industry?
The India paint market size was valued USD 7.2 Billion in 2024. By 2033, this figure is projected to reach around USD 11.4 Billion, with a compound annual growth rate (CAGR) of 5.04% over the forecast period (2025-2033).
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India Paint Market Trends:
The India Paint Market is currently experiencing “Structural Disruption” in the paint market where the comfortable oligopoly prevailing for decades is being broken down by entry of large conglomerates like Grasim Industries (Birla Opus) and JSW Paints leading to a “Capacity War”. The new entrants are from the niche area but have very large installed capacities and at lower prices. The likes of Asian Paints and Berger are responding to defend their market with more dealer discounts and “paint-plus” deals.
There is also a move towards “Functional Waterproofing”, with the paint companies keen to ‘own’ the construction chemicals market and not just the color. Hybrid “waterproofing emulsions” (damp-proof coatings) are used for damp-proofing as well as topcoat paint, reducing market share for adhesives and other construction chemicals. It is bringing waterproofing into the ordinary house painter’s domain at the expense of specialists.
India Paint Market Scope and Growth:
The main driver for the India Paint Market is the Shortening Repainting Cycle driven by increasing Disposable Income and “pride in home aesthetics”. The average repainting cycle of the interior has reduced from 7-8 years to 3-4 years, increasing the velocity of “recurring revenue” for the industry. Consumption of paint is the highest during Diwali and Wedding season. The “Premiumization of Rural India” is acting as a massive catalyst. Tier-2 and Tier-3 city consumers are moving from low-cost distempers and lime washes to high-margin plastic emulsions and textures.
Further, the introduction of affordable housing (PMAY) and infrastructure development from the government are driving structural demand for industrial and protective coatings, providing a steady baseline for market volumes. In addition, “service-led” models (such as “Safe Painting Services”) by various large brands are driving frictionless penetration among urban consumers within the same segment.
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India Paint Market Report and Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India paint market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Technology Insights:
- Water-based
- Solvent-based
Type of Paint Insights:
- Emulsion
- Enamel
- Distemper
- Textures
- Others
Resin Insights:
- Acrylic
- Alkyd
- Polyurethane
- Epoxy
- Polyester
- Others
End User Insights:
- Architectural and Decorative
- Non-Architectural
- Automotive and Transportation
- Wood
- General Industrial
- Marine
- Others
Breakup by Region:
- East India
- North India
- South India
- West India
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Other key areas covered in the report:
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Market Dynamics
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
- Top Winning Strategies
- Recent Industry News
- Key Technological Trends & Development
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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