2012-09-19 17:49:25 - Indian paint market experiencing substantial growth
The Indian paint market has been forecast to increase at a compound annual growth rate (CAGR) of approximately 15% through to 2015.Over the past few years, the Indian paint industry has substantially grown and caught the attention of many international players. The country continues to enjoy a healthy growth rate compared to other economies, backed by the increasing level of disposable income, and demand from infrastructure, industrial and automotive sectors.The industry consists of two segments, namely the decorative segment, which caters to the housing sector and the industrial segment , which consists of powder coatings, floor coatings and other protective coatings catering to the automobile, marine and other industries.In the domestic market, decorative segment accounts for 70% of the total
demand for paints whereas the industrial segment accounts for the remaining 30%.The top five companies make up more than 80% sales of the organized market. The market share of the organized sector is continuously improving as consumer preference is shifting towards better products offered by the leading brands.Asian Paints is the market leader in the Indian paint industry and gets the major portion of its revenue from the decorative segment. Over the years, it has outperformed its peers in every aspect by wide margins. This is mainly due to its strong moat (competitive advantage) which lies in its strong brand equity and an extensive distribution network.Kansai Nerolac holds second position in the Indian Paint market, and is the leader within the industrial paint sector, owing to its leadership position in the automobile paint segment.For more information on the Indian paint market, see the latest research: Indian Paint Market ReportFollow us on Twitter @CandMResearch
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