India Industrial Coatings Market Size & Outlook, 2023-2030
India industrial coatings market, 2018-2030 (US$M)
India industrial coatings market highlights
- The India industrial coatings market generated a revenue of USD 6,300.5 million in 2023 and is expected to reach USD 7,313.7 million by 2027.
- The India market is expected to grow at a CAGR of 3.8% from 2024 to 2027.
- In terms of segment, acrylic was the largest revenue generating product in 2023.
- Acrylic is the most lucrative product segment registering the fastest growth during the forecast period.
Industrial coatings market data book summary
| Market revenue in 2023 | USD 6,300.5 million |
| Market revenue in 2027 | USD 7,313.7 million |
| Growth rate | 3.8% (CAGR from 2023 to 2027) |
| Largest segment | Acrylic |
| Fastest growing segment | Acrylic |
| Historical data | 2016 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Acrylic, Alkyd, Polyurethane, Epoxy, Polyesters, Other |
| Key market players worldwide | Akzo Nobel NV, Axalta Coating Systems Ltd, PPG Industries Inc, Sherwin-Williams Co, Nippon Paint Holdings Co Ltd, NKT A/S |
Other key industry trends
- In terms of revenue, India accounted for 7.0% of the global industrial coatings market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2027.
- In Asia Pacific, China industrial coatings market is projected to lead the regional market in terms of revenue in 2027.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 22,239.1 million by 2027.
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Industrial Coatings Market Scope
Industrial Coatings Market Companies
| Name | Profile | # Employees | HQ | Website |
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India industrial coatings market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial coatings market will help companies and investors design strategic landscapes.
Acrylic was the largest segment with a revenue share of 35.86% in 2023. Horizon Databook has segmented the India industrial coatings market based on acrylic, alkyd, polyurethane, epoxy, polyesters, other covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing industrialization coupled with government initiatives, such as Make in India and FDIs under the automatic route, is anticipated to fuel the growth of manufacturing sector in the country which expected to create high demand for industrial coatings.
India has a large coastline, which facilitates easy import & export of goods such as crude oil, mineral ores, coals, and other consumable products through marine transport network.
Powder coating is being used by automobile manufacturers in the country owing to properties such as excellent durability, corrosion resistance, heat resistance, and high color retention. Thus, the growing demand for powder coatings from automotive industry is anticipated to significantly fuel the market growth.
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Our clientele includes a mix of industrial coatings market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the India industrial coatings market , including forecasts for subscribers. This country databook contains high-level insights into India industrial coatings market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India industrial coatings market size, by product, 2018-2030 (US$M)
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