Mahesh Anand, President, The Indian Paint Association
“Specialty contracting has been beneficial for the industry as these specialised contracting companies are well informed about the latest technologies in paints; for example, when we talk about anti-DPUR (dirt pickup resistance), a builder may not know what DPUR is, but these contractors do. When paint companies launch new technology emulsions, these contracting companies are well aware of the technologies and appreciate them.
Paint contracting companies offer turnkey jobs. They directly buy from the manufacturer, so the intermediary cost is negated, and they are able to do the job at a reasonable price for the builder. These contractors also have a team of architects who can give design-specific colours that can be used.
Real estate in India has drastically dropped in this fiscal owing to poor market sentiments and a liquidity crisis. Thus, demand in new painting has come down considerably but the repainting segment is still providing fodder to the decorative paint industry. Last quarter, paint companies witnessed 8-9 per cent growth, which is not seen in any of the building material segments. This growth is because repainting makes 70 per cent of the paint industry. This is expected to continue. But if we need double-digit growth, new painting also needs to flourish, which I expect in the second half of 2020.
In terms of trends, eco-friendly paints have already started gaining momentum and are expected to see more consumption. In interiors, paints also add a lot of value to indoor air quality—there are air-purifying paints that keep the indoor air pure.”