Paints And Coatings Industry In India: USD 21.17 Billion Valuation By 2032, Supported By Construction Growth And Rising Automotive Demand, Says Mordor Intelligence

(MENAFN- GlobeNewsWire - Nasdaq) The India paints and coatings market is projected to grow at a CAGR of 9.14% during 2027–2032, driven by expanding construction and infrastructure activity, rising decorative repaint demand, and growth in automotive and industrial production.

Hyderabad, India, Nov. 09, 2026 (GLOBE NEWSWIRE) -- According to latest report from Mordor Intelligence, the India paints and coatings market USD 12.51 billion in 2026 to USD 13.67 billion in 2027, reaching USD 21.17 billion by 2032 and registering a CAGR of 9.14% during 2027–2032. India's expanding housing and manufacturing sectors continue to support demand for architectural paints and industrial coatings, while growing adoption of waterproofing services is creating additional demand for building maintenance and repair applications. Paint manufacturers are also expanding their dealer networks and production capacities to strengthen market reach and meet rising demand. However, crude oil price volatility amid the West Asia conflict is adding to input cost pressures, making effective pricing strategies and demand management increasingly important for sustained growth.

India Paints and Coatings Market Emerging Trends:

Rising Demand from Housing and Infrastructure Development

Ongoing residential construction creates opportunities for decorative paint suppliers as newly built homes move into the finishing stage. Demand also extends beyond major cities, with rural housing projects supporting paint consumption across smaller towns and villages. This gives manufacturers opportunities to reach a wider customer base through local distribution networks and retail channels.

Increasing Repainting Demand in Urban Homes

Frequent home renovations and interior upgrades create repeat demand for decorative paints among urban homeowners. Repainting allows suppliers to generate sales from existing residential properties without depending entirely on new construction. Demand varies according to the scale of renovation, surface area, and type of paint required.

Growth in Automotive and Industrial Manufacturing

Rising automotive production and expanding industrial activity are creating additional opportunities for industrial and automotive coatings. Higher manufacturing output supports demand for coatings used in vehicle finishing, machinery, equipment, and factory applications. This also allows manufacturers to diversify their customer base beyond the residential construction sector.

“The India Paints and Coatings Market is growing as residential and infrastructure construction expands, demand for decorative repainting increases, and automotive and industrial manufacturing activities strengthen. This report examines key market trends, growth drivers, and emerging opportunities across technologies, resin types, and end-user industries, providing decision-makers with insights to support strategic planning,” says Himanshu Vasisht, Senior Research Manager at Mordor Intelligence.

For a comprehensive analysis of market, including key growth drivers, market segmentation, regional trends, and the competitive landscape, explore the full report from Mordor Intelligence:

India paints and coatings Industry Segments:

By Technology

• Water-Borne

• Solvent-Borne

• Powder Coatings

• Other Technologies

By Resin Type

• Acrylic
• Alkyd

• Polyurethane

• Epoxy

• Polyester

• Others

By End-User Industry

• Architectural

• Automotive

• Wood

• Protective Coatings

• General Industrial

• Transportation

• Packaging

Regional Overview:

Growing Paint Demand in Smaller Cities

Smaller cities are becoming important growth markets for paint manufacturers as residential construction and renovation activities expand beyond major urban centres. Increasing demand for decorative paints is encouraging suppliers to strengthen distribution networks, improve retail reach, and serve customers across emerging towns.

Strengthening Paint Manufacturing in Maharashtra

Maharashtra is strengthening its position in the paints and coatings industry through investments in manufacturing facilities and upstream material production. Greater integration of raw material supply with paint manufacturing helps producers manage production requirements and improve operational coordination.

India paints and coatings Companies:

• Asian Paints
  

• Berger Paints India Limited

• Birla Opus

• GEM PAINTS PVT. LTD

• Grand Polycoats Company Pvt. Ltd

• Hempel A/S

• Indigo Paints Ltd

• JKMaxx Paints Ltd

• Jotun

• JSW Paints

• Kansai Paint Co., Ltd. (Kansai Nerolac Paints Limited)

• KCCL

• Nippon Paint Holdings Co. Ltd

• PPG Asian Paints

• Shalimar Paints

• Sheenlac Paints Ltd

• Sirca

• Snowcem Paints

• Surfa Coats India Private Limited

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About Mordor Intelligence

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