Industrial-automotive sectors increasing reliance on coatings
The paints and coatings market in India was valued at Rs.1.35 trillion in 2024 and is expected to reach Rs.2.29 trillion by 2030, expanding at a compound annual growth rate (CAGR) of 9.28% during the 2025 – 2030 period, according to an industry research report.
India’s paints and coatings market is driven by rising urbanization, infrastructure expansion, and a growing middle class, said the “Paints & Coating Market in India (2025 – 2030)” report which has been added to ResearchAndMarkets.com’s offering since 23 Sept.
The sector is witnessing increased demand across decorative, industrial, and specialty segments. Innovation, environmental compliance, and premiumization are reshaping the competitive landscape. As consumers and industries shift towards sustainability and aesthetics, the market is poised for technological upgrades and evolving application preferences.
India’s paints and coatings market is expected to witness robust growth between 2025 and 2030, driven by expanding construction activity, increased consumer spending on home decor, and rising industrial output. With the housing sector booming and the government’s continued push for infrastructure through Smart Cities and urban development missions, decorative and protective coatings are in high demand. Tier 2 and Tier 3 cities are contributing significantly to volume growth, especially in the decorative segment.
Industrial and automotive sectors are also increasing their reliance on high-performance coatings for durability and compliance. The market is increasingly dominated by water-based and low-VOC formulations, reflecting growing awareness of sustainability and indoor air quality. Foreign direct investment and the expansion of organized retail further fuel product availability and innovation in this highly competitive market.
India’s paints and coatings market comprises three segments: decorative paints, industrial coatings, and specialty coatings. As of 2024, the decorative paints segment dominated the market, accounting for 77.25% of the total sector.
By the end of 2030, the decorative paints segment is expected to hold a share of around 77.55% of the overall market. The popularity of industrial coatings is growing, driven by increasing demand for powder coatings and water-based solutions, which are gradually replacing solvent-based alternatives. Specialty coatings are also expected to emerge as a high-margin, high-tech niche, supported by research-driven advancements.
The Indian paints and coatings industry is undergoing major shifts, led by sustainability, digital transformation, and consumer behaviour changes. Eco-friendly and low-VOC paints are increasingly favoured due to environmental regulations and growing health awareness. Premiumization is driving growth in urban areas, where consumers prefer long-lasting, easy-to-clean, and designer finishes. Smart paints, with functionalities like temperature regulation and air purification, are gaining attention in urban housing and commercial projects.
On the industrial side, automation and robotics are enhancing the precision and efficiency of coating applications. Companies are investing in green chemistry and nano-technology-based coatings to reduce environmental impact and improve performance.
Competitive landscape: Akzo Nobel India Limited, Asian Paints Limited, Berger Paints India Limited, Indigo Paints Limited, Kansai Nerolac Paints Limited, Shalimar Paints Limited, Jenson & Nicholson (India) Limited, Nippon Paint (India) Private Limited, Sheenlac Paints Limited and Snowcem Paints Private Limited. Fiinews.com
