The huge scope for decorative paint market in India

Colours have a rejuvenating effect on our mind, body and soul. A colourful and lit up room can pep our mood while darkly lit room with dull shades can bring back all the gloomy blues. People nowadays understand the concept of a colouring the homes in specific shades and experimenting with the space. However, in India there is a lot of scope for the paint market to evolve and come of age.

In India, at an average only 0.6 kg of paint is used per household annually whereas in countries like China, it is 1.6 kg and in western countries, it is as huge as 22 kg. Of the paint purchased, the major component is formed by decorative paints. Decorative paints refer to the paints used in exterior walls, rooms, other interior spaces, wood finishes and ancillary products such as primers and putties. Paint purchased for this purpose makes around 75 per cent of the total paint market in India.  

The decorative paint market is price sensitive. Its demand increases during the festive season (September to December) as compared to the other months. Also, a paint company earns better margin in this segment as compared to industrial paints, which primarily deals with automotive coatings, powder coatings and protective coatings. However, this segment is far more technologically more intensive than the decorative paint segment. Nevertheless, it is speculated that paints for home decor will witness a boom in sales in the coming few years as compared to their technological paint counterpart because of the increasing government incentives to the housing sector. And in this change, Dulux is at the helm of the affairs, striving to bring the best solutions in the paint industry to its consumers!