India's coatings industry ushered in a "spurt" growth, market value exceeding 9 billion euros

India's economic glory: driving explosive growth in the coatings industry and other industries

The Indian coatings industry has a basically linear relationship with India's overall economy, and its growth rate is 1.6-2.0 times the country's GDP. Some of the parent industries that drive the development of the coatings industry have also promoted economic development such as the construction and automotive industries. India's middle class of more than 400 million people has higher disposable income and purchasing power, which has also boosted consumerism, which in turn is related to the growth of the coatings industry. Heavy government spending on infrastructure is another factor driving the rapid growth of India's coatings industry. The Indian coatings industry is currently worth more than 9 billion euros, with a compound annual growth rate of approximately 14%, and is expected to maintain this growth, doubling in value in the next five to six years and will soon reach nearly 10% of the global market size.

We are seeing explosive growth in Indian coatings industry manufacturing. Can you describe this and explain why?

As mentioned above, the Indian coatings industry already has a very solid scale and future growth foundation. As a result, we see significant expansion of production capacity by all existing players. This is to meet foreseeable and growing demand and have a better geographical footprint across the country (remember that India is a big country). This is true for local Indian companies and multinational companies. This is true for not only large companies, but also small and medium-sized enterprises are beneficiaries and participants in this growth story. In addition, we have many new players entering the coatings industry. Many of these are large listed companies that are viewing coatings (especially architectural coatings, which account for about 77% of India's coatings industry) as an extension of their current construction businesses (steel, cement, piping). ETC）。We are discussing that the capital expenditures committed by all these players will exceed € 3.7 billion over the next three years or so. Given that these companies always conduct in-depth due diligence, this bodes well for the industry to see huge potential and beliefs over the next decade and beyond. Growth in the country's manufacturing, transportation and infrastructure has also stimulated investment in the industrial coatings sector. Powder coatings are growing fastest in China's coatings field. All in all, this shows explosive and equitable growth in the Indian coatings industry with a large number of participants (India has more than 3,500 coatings manufacturers)