ANNUAL 2023 WINNERS Paint Company

Today, the Indian paints industry is worth over Rs 62,000 crore ($ 8 billion) and is the fastest-growing major paint economy in the world with over 3,000 paint manufacturers and a consistent double-digit growth over the past two decades. It registered fast-paced growth across all segments, from architectural to powder, automotive to coil, high-performance to general industrial, refinish to wood, and packaging to plastic.

The architectural segment accounts for nearly 69 per cent of paint consumption in the country on a volume basis, while the industrial segment accounts for the remaining 31 per cent of the paints and coatings produced in the country. The share of the architectural segment has declined over the past five years, indicating that the consumption of industrial sub-segments such as automotive has risen, which is a positive sign for the future growth of the overall paints and coatings industry in India.