Review of Literature on Asian Paints

Topics: Coatings, Paint, Formulations Pages: 6 (1348 words) Published: March 14, 2011

Information Research (IRL) has published a new report on the Indian paint and coatings market. The study points to phenomenal growth prospects for the Indian paint demand, which is now estimated at 1.22 million tonnes. Data in the report indicates that the entire Indian paint and coatings market will reach around two million tonnes at the start of the next decade.

As construction projects get under way in India in a big way, the market is becoming even more entrenched with architectural coatings, which according to this analysis, account for about 81% of the total market. Every sub-segment of the Indian architectural coatings market now demonstrates double-digit percentage growth. Given average segment growth of around 16% pa for the five years to 2011, the Indian decorative coatings market alone will amount to more than two million tonnes in that year.

The industrial coatings sector in India is also expected to demonstrate strong growth of the order of about 17% pa. This growth is underpinned by construction and infrastructure on the one hand and consumer goods demand on the other. • Many protective coatings applications are likely to benefit from growth, including refineries, power stations, irrigation, power stations, chemicals and civil infrastructure. Civil infrastructure applications will have a vital role to play with the construction of more (and better) roads in India. • With incomes rising, white goods and their impact on living standards will extend strong growth to the powder coatings segment.

• The automotive OEM coatings sector is growing at an average of 15% pa. Almost all forms of transport are good for growth India and buses and goods vehicles will be strong growth markets in the future as infrastructure improves. The market study also evaluates the prospects for some smaller segments of the Indian coatings market, such as can coatings and marine paints. • The Indian marine paint sector has some way to go to reach its full potential. Major multinational paintmakers are expected to be the winners eventually because smaller Indian paint companies will not be able to compete on technological or stocking grounds. Fishing fleets, trawlers and the maintenance of craft such as these can be expected to be an important area of development for the smaller Indian paint makers. Indian ports are already being developed and will add further leverage to the sector in the coming years.

• The canning industry in India is in need of new technologies, although at the same time some new can coating technologies are being introduced. As always, competing packaging materials put the brake on runaway growth in the canning market. The full potential of this market is likely to be demonstrated when multinational soft drinks manufacturers establish themselves better in India. Key products which are canned in India include beer, baby food, fruit juice, pesticides and paint with much less emphasis on fruit and vegetables, which are preferred fresh.

|[pic] |[pic] |[pic] |[pic] |[pic] |

A decorative paint market of at least 2,000,000 tonnes by 2013 as international influences are established and consumers grow more adventurous;

- Steady growth in the automotive market as Indian car ownership increases in line with affordability and infrastructure;

- Strong growth in the Indian powder coatings segment, as new applications and their advantages are discovered;

- Greater interest in water-based coatings technology while awareness of VOCs and legislation increases.

The above insights, taken from our fourth Profile of the Indian Paint Industry, show how thinking patterns and new influences are changing the outlook for the industry.

The report also offers:
- A historical model of paint production and market development - History of paint imports and exports with...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Asian Paints Essay
  • Asian Literature Essay
  • Literature Review Research Paper
  • Literature Review Research Paper
  • Essay on Literature Review
  • Essay on Literature Review
  • Review of Literature Essay
  • Literature Review Essay

Become a StudyMode Member

Sign Up - It's Free