India Architectural Coatings Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028

The India Architectural Coatings Market is segmented by Sub End User ( Commercial, Residential ) , by Technology ( Solventborne, Waterborne ) and by Resin ( Acrylic, Alkyd, Epoxy, Polyester, Polyurethane )

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India Architectural Coatings Market Size

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India Architectural Coatings Market Summary
svg icon Study Period 2016 - 2028
svg icon Market Size (2024) USD 8.93 Billion
svg icon Market Size (2028) USD 11.41 Billion
svg icon Largest Share by Sub End User Residential
svg icon CAGR (2024 - 2028) 6.32 %
svg icon Fastest Growing by Sub End User Residential

Major Players

India Architectural Coatings Market Major Players India Architectural Coatings Market Major Players India Architectural Coatings Market Major Players India Architectural Coatings Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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India Architectural Coatings Market Analysis

The India Architectural Coatings Market size is estimated at USD 8.93 billion in 2024, and is expected to reach USD 11.41 billion by 2028, growing at a CAGR of 6.32% during the forecast period (2024-2028).

  • Largest Segment by End-user - Residential : The residential sector dominated the architectural coating consumption due to the rising construction of new houses and the government initiatives for the building
  • Largest Segment by Technology - Waterborne : The waterborne coating is estimated to be the largest and the fastest growing segment due to the rising awareness for the low VOC emission waterborne coatings.
  • Largest Segment by Resin - Acrylic : The acrylic coating has dominated the resin market as the country is price sensitive marketplace and the acrylic coatings are cheaper and has low VOC emission.

India Architectural Coatings Market Trends

This section covers the major market trends shaping the India Architectural Coatings Market according to our research experts:

Residential is the largest segment by Sub End User.

  • The architectural coating consumption in India dipped in 2016 and 2017 due to the demonetisation and introduction of GST. The demonetisation impacted the retail spending of the consumers due to limited availability of cash. Thus, diverting the priority of consumers spending on the daily needs rather than painting the houses. The Goods and service tax, which came into effect in July, 2017 also laid a considerable impact on the paint industry as the Paints have been classified in the GST tax rate slab of 28%, higher than 24-27% paid out in the form of excise, value added tax (VAT) and entry taxes. Furthermore, the country’s GDP declined by 1.5% in 2017 compared to the previous years.
  • The consumption recovered quickly and peaked in 2018 due to the higher addition of floor area and increasing foreign direct investment (FDI) equity inflows for the construction development sector. For instance, According to Department for Promotion of Industry and Internal Trade (India) the FDI in 2018 increased to 540 USD million from 105 USD million in 2017.
  • The slow growth in the architectural coating consumption was observed in 2019 followed by a decline in 2020 due to lower new constructions in both residential cand commercial sector owing to the spread of covid-19 in the country and lockdown of 50 days across the country. The increase in consumption and sales is expected to grow at a significant rate in the forecasted period due to the rising population in the country and positive investment in the rapid growing construction sector. According to IMF, The total population in the country is expected to increase by 3.6% during the 2022-26.
India Architectural Coatings Market : Residential is the largest segment by Sub End User.

India Architectural Coatings Industry Overview

The India Architectural Coatings Market is moderately consolidated, with the top five companies occupying 63.10%. The major players in this market are AkzoNobel N.V., Asian paints, Berger Paints India, Kansai Paint Co.,Ltd. and Nippon Paint Holdings Co., Ltd. (sorted alphabetically).

India Architectural Coatings Market Leaders

  1. AkzoNobel N.V.

  2. Asian paints

  3. Berger Paints India

  4. Kansai Paint Co.,Ltd.

  5. Nippon Paint Holdings Co., Ltd.

*Disclaimer: Major Players sorted in no particular order

India Architectural Coatings Market Concentration
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India Architectural Coatings Market News

  • August 2022: Asian Paints signed a Memorandum of Understanding (MoU) with the Gujarat government to kickstart the expansion of the manufacturing capacity of paints from 130,000 KL to 250,000 KL and of resins and emulsions from 32,000 MT to 85,000 MT.
  • March 2022: Berger Paints partners with o9 solutions to gain end-to-end visibility into its supply chain operations.
  • November 2021: Asian Paints has signed a Memorandum of Understanding (MoU) with the Gujarat Government to kickstart the expansion of manufacturing capacity of paint from 130,000 KL to 250,000 KL and resins and emulsions to 32,000 MT to 85,000 MT.

India Architectural Coatings Market Report - Table of Contents

1. EXECUTIVE SUMMARY & KEY FINDINGS

2. INTRODUCTION

  • 2.1 Study Assumptions & Market Definition
  • 2.2 Scope of the Study
  • 2.3 Research Methodology

3. KEY INDUSTRY TRENDS

  • 3.1 Floor Area Trends
  • 3.2 Regulatory Framework
  • 3.3 Value Chain & Distribution Channel Analysis

4. MARKET SEGMENTATION

  • 4.1 Sub End User
    • 4.1.1 Commercial
    • 4.1.2 Residential
  • 4.2 Technology
    • 4.2.1 Solventborne
    • 4.2.2 Waterborne
  • 4.3 Resin
    • 4.3.1 Acrylic
    • 4.3.2 Alkyd
    • 4.3.3 Epoxy
    • 4.3.4 Polyester
    • 4.3.5 Polyurethane
    • 4.3.6 Other Resin Types

5. COMPETITIVE LANDSCAPE

  • 5.1 Key Strategic Moves
  • 5.2 Market Share Analysis
  • 5.3 Company Landscape
  • 5.4 Company Profiles
    • 5.4.1 Acro Paints Limited
    • 5.4.2 AkzoNobel N.V.
    • 5.4.3 Asian paints
    • 5.4.4 Axalta Coating Systems
    • 5.4.5 Berger Paints India
    • 5.4.6 Jotun
    • 5.4.7 JSW
    • 5.4.8 Kansai Paint Co.,Ltd.
    • 5.4.9 Nippon Paint Holdings Co., Ltd.
    • 5.4.10 Shalimar Paints
    • 5.4.11 Surfa Coats India Private Limited
  • *List Not Exhaustive

6. KEY STRATEGIC QUESTIONS FOR ARCHITECTURAL COATINGS CEOS

7. APPENDIX

  • 7.1 Global Overview
    • 7.1.1 Overview
    • 7.1.2 Porter's Five Forces Framework
    • 7.1.3 Global Value Chain Analysis
    • 7.1.4 Market Dynamics (DROs)
  • 7.2 Sources & References
  • 7.3 List of Tables & Figures
  • 7.4 Primary Insights
  • 7.5 Data Pack
  • 7.6 Glossary of Terms
** Subject To Availablity

List of Tables & Figures

  1. Figure 1:  
  2. INDIA MARKET, UNDEFINED YOY GROWTH RATE, 2016 - 2028
  1. Figure 2:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, VOLUME, , 2016 - 2028
  1. Figure 3:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, VALUE, USD, 2016 - 2028
  1. Figure 4:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY SUB END USER, VOLUME, , 2016 - 2028
  1. Figure 5:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY SUB END USER, VALUE, USD, 2016 - 2028
  1. Figure 6:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2016 - 2028
  1. Figure 7:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2016 - 2028
  1. Figure 8:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY SUB END USER, VOLUME, , 2016 - 2028
  1. Figure 9:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY SUB END USER, VALUE, USD, 2016 - 2028
  1. Figure 10:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY TECHNOLOGY, 2021 - 2028
  1. Figure 11:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY SUB END USER, VOLUME, , 2016 - 2028
  1. Figure 12:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY SUB END USER, VALUE, USD, 2016 - 2028
  1. Figure 13:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY TECHNOLOGY, 2021 - 2028
  1. Figure 14:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY TECHNOLOGY, VOLUME, , 2016 - 2028
  1. Figure 15:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY TECHNOLOGY, VALUE, USD, 2016 - 2028
  1. Figure 16:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY TECHNOLOGY, 2016 - 2028
  1. Figure 17:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY TECHNOLOGY, 2016 - 2028
  1. Figure 18:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY TECHNOLOGY, VOLUME, , 2016 - 2028
  1. Figure 19:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY TECHNOLOGY, VALUE, USD, 2016 - 2028
  1. Figure 20:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 21:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY TECHNOLOGY, VOLUME, , 2016 - 2028
  1. Figure 22:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY TECHNOLOGY, VALUE, USD, 2016 - 2028
  1. Figure 23:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 24:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VOLUME, , 2016 - 2028
  1. Figure 25:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VALUE, USD, 2016 - 2028
  1. Figure 26:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY RESIN, 2016 - 2028
  1. Figure 27:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY RESIN, 2016 - 2028
  1. Figure 28:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VOLUME, , 2016 - 2028
  1. Figure 29:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VALUE, USD, 2016 - 2028
  1. Figure 30:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 31:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VOLUME, , 2016 - 2028
  1. Figure 32:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VALUE, USD, 2016 - 2028
  1. Figure 33:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 34:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VOLUME, , 2016 - 2028
  1. Figure 35:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VALUE, USD, 2016 - 2028
  1. Figure 36:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 37:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VOLUME, , 2016 - 2028
  1. Figure 38:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VALUE, USD, 2016 - 2028
  1. Figure 39:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 40:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VOLUME, , 2016 - 2028
  1. Figure 41:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VALUE, USD, 2016 - 2028
  1. Figure 42:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 43:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VOLUME, , 2016 - 2028
  1. Figure 44:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, BY RESIN, VALUE, USD, 2016 - 2028
  1. Figure 45:  
  2. INDIA ARCHITECTURAL COATINGS MARKET MARKET, SHARE(%), BY SUB END USER, 2021 - 2028
  1. Figure 46:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 47:  
  2. INDIA ARCHITECTURAL COATINGS MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 48:  
  2. INDIA ARCHITECTURAL COATINGS MARKET SHARE(%), BY MAJOR PLAYERS, 2021

India Architectural Coatings Industry Segmentation

Commercial, Residential are covered as segments by Sub End User. Solventborne, Waterborne are covered as segments by Technology. Acrylic, Alkyd, Epoxy, Polyester, Polyurethane are covered as segments by Resin.
Sub End User Commercial
Residential
Technology Solventborne
Waterborne
Resin Acrylic
Alkyd
Epoxy
Polyester
Polyurethane
Other Resin Types
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Market Definition

  • COMMERCIAL - The Commercial Sector includes the paints and coatings used for hotels, hospitals, educational institutions, government institutions and malls among others. The scope does not include paints and coatings used for infrastructure applications.
  • RESIDENTIAL - This section includes interior and exterior paints and coatings used on residential buildings.
  • FLOOR AREA - The total floor area comprises of both existing and new floor area for the sub end users considered in the study.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: The quantifiable key variables (industry and extraneous) pertaining to the specific end-user segment and country are selected from a group of relevant variables & factors based on the desk research & literature review; along with primary expert inputs.
  • Step-2: Build a Market Model: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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India Architectural Coatings Market Research FAQs

The India Architectural Coatings Market size is expected to reach USD 8.93 billion in 2024 and grow at a CAGR of 6.32% to reach USD 11.41 billion by 2028.

In 2024, the India Architectural Coatings Market size is expected to reach USD 8.93 billion.

AkzoNobel N.V., Asian paints, Berger Paints India, Kansai Paint Co.,Ltd. and Nippon Paint Holdings Co., Ltd. are the major companies operating in the India Architectural Coatings Market.

In the India Architectural Coatings Market, the Residential segment accounts for the largest share by sub end user.

In 2024, the Residential segment accounts for the fastest growing by sub end user in the India Architectural Coatings Market.

In 2023, the India Architectural Coatings Market size was estimated at USD 8.26 billion. The report covers the India Architectural Coatings Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Architectural Coatings Market size for years: 2024, 2025, 2026, 2027 and 2028.

India Architectural Coatings Industry Report

Statistics for the 2024 India Architectural Coatings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Architectural Coatings analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

India Architectural Coatings Report Snapshots

India Architectural Coatings Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2028