PAINT INDUSTRY IN INDIA SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 

India Paints & Coatings Market Analysis:

The estimated size of the India Paints and Coatings Market is USD 8.78 billion in 2023, with an expected growth to USD 13.75 billion by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 9.38% during the forecast period (2023–2028).

The COVID-19 pandemic has had both short-term and long-term effects on various businesses, including a significant impact on the construction industry, which is evident in the paints and coatings market across the country. As the government lifted restrictions in 2021, the market began to grow steadily.

The increasing demand from the construction industry, along with the recovering automotive industry, is driving the market’s growth. However, the fluctuation in raw material prices is expected to hinder the market’s growth.

The utilization of nanotechnology in the paints and coatings industry is anticipated to provide several growth opportunities for the market during the forecast period.

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