The Indian paint market which was around INR 40,300 crores in 2014-15 is expected to reach INR 70, 875 crores by 2019-2020
o The decorative paint market is expected to witness CAGR of 12.7%
o The industrial paint market is expected to witness CAGR of 9.5%
• The split of the decorative paint market to industrial market is around 75-25 (Decorative Paint market size in India was INR 30,385 crores and the Industrial Paint was INR 9,915 crores in FY 2014-15)
• The industry has grown at a CAGR of 12.9% from 2011-12 to 2014-15 in terms of value
• For FY 2014-15, per capita consumption of paint in India was estimated at 3.34 Kg
• High growth is witnessed for
o Exterior and Interior emulsions in the decorative paints category
o Auto refinish and Powder coatings in the industrial paints category
Speaking on this occasion, Mr. Jalaj Dani, President, IPA said, “The Indian paint industry is on a growth trajectory. This biennial conference provides an ideal and common platform for industry discussions on providing differentiated customer experience, opportunities, challenges, market trends and best practices”
“This three-day conference will witness participation from a large number of paint manufactures and raw material vendors. There will be power packed sessions on a wide range of topics including GST, Skill development, Automation, Digital Transformation, Innovations and so on, which will be deliberated and moderated by renowned experts” he added.
The conference will be inaugurated by the Hon’ble Chief Minister of Karnataka Shri. Siddaramaiah and Shri R.V. Deshpande, Hon’ble Minister for Commerce and Industries, Government of Karnataka.
The Indian paints industry has been growing at a rapid pace over the years. However the growth hasn’t been accompanied by supply of adequate skilled talent. IPA has been working closely with National Skill Development Corporation (NSDC) to bridge the talent gap. Recently, IPA signed aMoU with NSDC under which it will train three lakh painters over the next three years.