India's paint industry outlook remains bright

The paint industry in India has grown from a predominant decorative paints market to a more diversified market with seasonal fluctuations, according to a report by Research and Markets, "India Paint Industry Outlook 2020".

Several factors that have contributed to the rapid growth of the Indian paint industry include adoption of latest technologies and innovative products launch. In addition, rapid urbanization, increasing disposable incomes and growing infrastructure are expected to push Indian paint market to grow by around 14% yearly during the period 2015-16 to 2019-20.

In Ithe report, analysts have identified and described the paint market dynamics in important segments thus clearly highlighting the areas offering promising growth potential for companies to boost their expansion. The Indian paint industry has begun to look more like the FMCG industry where branding, distribution strength and innovative use of technology have become decisive aspects of growth against a backdrop of ever changing customer preferences.