India Paints and Coatings Market was valued at US$ XX Mn in 2019 is projected to reach $ US$ XX Mn by 2027, at a CAGR of XX % during the forecast period.
Growing demand from infrastructure industry with the rapid economic growth in the country, the demand for roads, bridges, new buildings and dams is continuously increasing, which in turn is boosting the India paints and coatings market. Rising urbanization, disposable income and nuclear families are expected to propel a growth for the paint and coatings industry throughout the forecast. However, the market growth is hindered by the fluctuating raw material price. Research to produce eco-friendly paints and coatings with natural raw materials like bio-based polyurethane or biodegradable materials will have better opportunities in paints and coatings market.