Paint is any liquid, liquefiable, or mastic composition that, after application to a substrate in a thin layer, converts to a solid film. It is most commonly used to protect, color, or provide texture to objects. Paint can be made or purchased in many colors—and in many different types, such as watercolor, synthetic, etc. Paint is typically stored, sold, and applied as a liquid, but most types dry into a solid.

Paints and enamel industry is gaining ground at a rapid pace in modern time accompanied with closed advance in surface coating technology. They are formulated for specific purposes: outside house paints and exterior varnishes are intended to give good service when exposed to weathering; interior wall paints are formulated to give excellent coverage. Enamel paint is paint that air dries to a hard, usually glossy, finish, used for coating surfaces that are outdoors or otherwise subject to wear or variations in temperature; it should not be confused with decorated objects in painted enamel, where vitreous enamel is applied with brushes and fired in a kiln. Indian paint industry has a bright future. The Indian paints market has the potential to grow over the next decade at 15 to 20 per cent per annum owing to more investments in the housing segment and improving infrastructure ,high growth in the Indian automobile industry, etc. which in turn would mean greater demand for paints, as most people aspire for better lifestyle. Moreover the per capita consumption is also low. The demand for premium category paints is likely to increase with rise in construction of commercial infrastructure. The players with aggressive marketing strategies and comprehensive product portfolios will grow at a faster rate. The emerging trends in technology and marketing indicate that the industry is likely to consolidate in the coming years with industry leaders improving their market share.

Market Outlook

 The Indian paint market will grow with a CAGR of around 14% during 2015-16 to 2019-20.arket Outlook.

The paints industry in India has been growing at the rate of around 12% a year.  The paints market has crossed the Rs. 135 bn mark.  By volume, the market is estimated at 1.4 mn tonne which is growing at an average annual growth of over 6 to 8% (12% by value). The unorganized sector, shrunk in the recent years, still commands a share of 46% (by volume) and 35% (by value).

The demand for decorative paints is correlated with growth in housing and construction sectors, while a substantial quantity is used also for applying paints to the existing building. While the decorative paints registered a modest growth, industrial paints segment showed a relatively higher growth rate. The government and associated agencies account for nearly 35% of the total demand. The offtake depends on the allocations for construction activities. The market for industrial paints (30% of the overall market) is growing faster than that for decorative paints. The paints majors were switching over to industrial paints sensing better prospects of the segment. The industrial paints are produced principally by the organised sector as this segment is relatively more technology driven.

The decorative paints & coatings market is projected to reach USD 114.72 Billion by 2021, at a CAGR of 5.7% from 2016 to 2021.

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