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Wednesday, 03 June 2020
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Markets & companies, Coatings market

Lanxess expects Indian coatings market to grow

Monday, 13 September 2010

Lanxess expects the Indian paint and coatings industry to grow up to 14 % in the next five years.

Consumption of paint and coatings in India in the domestic sector and in the industrial segment is on the rise. Source: Lanxess AG

Consumption of paint and coatings in India in the domestic sector and in the industrial segment is on the rise. Source: Lanxess AG

Lanxess, a specialty chemicals firm and supplier to the paint and coatings industry, is encouraged by the buoyant growth and robust potential in the Indian coatings market. Overall, the company expects the paint and coatings industry in India to grow at the rate of 11-14 % in the next five years. Consumption of paint and coatings in India in the domestic sector is on the rise and is triggered by factors such as increased purchasing power of the people, boom in the real estate and automobile sectors, enhancement in lifestyles, and frequent special occasions and festivals in India. In the industrial segment, there is a steady growth in spending on infrastructure and urbanization, which has increased sales of industrial paint and coatings.

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