Information Research (IRL) in London, UK, has released its latest study, A Profile of the Indian Paint Industry, 4th Edition, in which it states that India is likely to add an additional million tons of coatings to its demand by 2013. At that point, the total Indian paint market will be approximately 2.7 million tons.
In 2008, India’s paint and coatings demand reached 1.64 million tons, with 79% going to decorative coatings. Industrial coatings reached 340,000 tons, dominated by applications associated with protective coatings.
According to IRL, a higher demand for marine paints can be expected in the next decade, along with powder coatings and OEM coatings. Decorative coatings will continue to have the greatest volume growth as Indian consumers become more experimental in their use of paint.
For more information on the study, visit www.informationresearch.co.uk.