Starting with cave paintings, the history of Indian paint can be traced back to 10,000 BC, still rich back then, when colors did not even begin to exist.
It has been a fascinating period of evolution in this industry with introduction of new shades every now and then, not to mention the already existing background of rich Indian culture.
While the anthropologists began naming colors mostly in shades of black and white, sooner than later a huge range of shades including pink, red, orange, brown etc. started growing on people.
Paint is generally made of pigments, which is basically why they are valued so high. The price varies based on the quality of pigments, but it is often unknown that price of paint can surpass gold!
The painting sector is divided into two categories namely: Decorative Paint and Industrial Paint. The Decorative Paint is used for housing sector providing multiple products like exterior wall paints, interior wall paints, wood finishes, enamels as well as ancillary products like primers, putties, etc.
While the Industrial Paint covers less than half of this market, its products apply to various segments like automotive coatings, marine coatings, packaging coatings, powder coatings, protective coatings and other general industrial coatings.
Beginning with the setting up of factory in 1902, by Shalimar Paints, India today has more than 20,000 outlets spread across its regions, marking the highest in comparison to other countries.
Having a strong correlation with the GDP of the country, the Indian Paint Industry has shown significant growth over the years, with the Decorative Paint category constituting almost 75% of this category, while the other half covered by Industrial Paint.
The boom in Indian Housing Sector, leading to easy access of housing loans has driven the growth of Decorative Paint Segment up to 70%. It is expected to grow exponentially in the coming future, with rise of technology and increased housing and automotive expenditure.
Since the manufacturing process in painting industry involve intensive application of raw materials, with over 300 types of raw materials most of them being petroleum based, any fall in crude oil prices deems maximum benefit to this industry
Here is the List of Top 10 Paint Companies In India:
Asian Paints
Beginning in 1942, with its corporate office located in Mumbai, Maharashtra, Asian Paints makes the leading industrial and decorative paint manufacturing company. It consists of 27manufacturing plants spread over 22 countries.
The Decorative Segment includes exterior wall finishes, interior wall & wood finishes and enamels. It’s marketing strategy led to the company’s massive growth, emerging as the market leader in 1967. By 1985, the turnover of Asian Paints increased 100 crores and acquired Berger international paints in 2001.
With constant efforts of introducing premium and innovative products in the market to setting up new stores across the nation, Asian Paints made it to the Forbes50 at a pretty early stage.
Why Asian Paints?
- Caters to all segments
- Diverse range of products
- Holds over 50% of the Market Share
- International Presence
- Strong Financials
- Efficient Technology
Challenges?
- Threat of change in consumer taste in Decorative Segment
- Less hold in Industrial Segment
- Growth in Competition
Akzo Nobel India Ltd
Founded in 1993, Akzo Nobel India Ltd has its headquarters in Amsterdam, Netherlands, having over 5 operating centers in the country. It became the only Integrated Paints and Coatings Company in 2012, with the merger of 3 AkzoNobel companies.
Being one of the leading companies, it provides all the essential colors and protection to its consumers and industries, its known for its sustainability. It has made its presence not only through quality, but also through efforts towards various CSR events, over the course of its tenure, and still continues.
Why Akzo Nobel?
- International Presence
- Major producer of Specialty Chemicals
- Diverse range of products
Kansai Nerolac Paints Ltd
Kansia Nerolac Paints Ltd makes the second largest position in the Industrial Paint Coating Sector. It is a subsidiary of Kansia Nerolac Paints which began in 1920, in Japan. It has made an impression on the country by its wide range of paints.
It is a no brainer, that Shah Rukh Khan is the brand ambassador of this company. Having established a tie up with GNPL, for the manufacture of Cathodic Electrodeposition Primer and several other fancy coatings it became the first country to bring this technology in India.
Why Kansai Nerolac Paint?
- Market leader in Industrial Coating
- Technological Edge
- Efficient Supply Chain
- Celebrity Brand Ambassadors
Berger Paints India Limited
Headquartered in Kolkata, Berger paints is one of the leading brands with an international presence namely in four countries – Nepal, Bangladesh, Poland and Russia. It is one of the fastest growing companies I the industry, with massive employee base and wide distribution chain of over 25,000 dealers.
Previously named as Hadfield’s India Limited, it had one factory in Howrah, West Bengal. It was until 1947, after which it was acquired by British Paint UK, and made its presence in India. Berger Paint is the only supplier of Protective Coating for nuclear power plants.
Why Berger Paint?
- Pool of products
- Brand Recognition
- International Presence
- Competent Leadership
- Good Quality
- Loyalty to Consumers
- Exponential Growth
Challenges?
- Dependence on Decorative Segment
- Lack of Premium Alternative
- Restricted Pricing Power
Shalimar Paints
Established in 1942 in Howrah, West Bengal, Shalimar Paints has over three manufacturing units and over fifty-four branches across the country. It is mainly involved in architectural, decorative and industrial segments.
It has been involved in projects including Rashtrapati Bhavan Delhi, Salt Lake stadium Kolkata, Vidyasagar Setu Kolkata, Malankara Orthodox Church, Kerala etc. Gaining access to high-end technology, it set foot in aviation, coating marine paints and thermal plants painting.
Why Shalimar Paint?
- Hold in both Decorative and Industrial Segment
- Offers paint to companies in all price bracket
- Wide range of products
- Rapid innovation
- Pan-India presence with an established network
Challenges?
- Despite having first mover advantage, lags behind companies like Asian Paint and Berger Paint
Jenson & Nicholson (I) Ltd
With its corporate office in Gurgaon, Haryana, Jenson & Nicholson launched in India in 1973. It has successfully taken part in many renowned projects including Birla Mandir, Birla Museum Bhopal, Commonwealth Games Village Delhi, St. Pauls Seminary Shillong and many more.
It became the first paint company in India to join the Nova Paint Club. It impressed upon various innovations and marketing techniques, and in 2016, it formed along with Sheenlac, an organisation to provide more viable alternative in the retail Decorative Paint market.
Why Jenson & Nicholson?
- Brand Loyalty
- Efficient Technology
- Diversified Segments
- Rapid Growth
Snowcem Paints
Starting in the year 1959,with its corporate office in Mumbai, Maharashtra, Snowcem Paints has managed to thrive as the leading manufacturer pf cement paints, textured paints, primers, liquid paints, surface preparation products and construction admixture.
It has become a trusted brand due to its high-quality products and after service and is a pioneer for eco-friendly paints in India.
British Paints
Having an international presence, British Paint set its foot in India in 1947, with its corporate office in Delhi, India.
The vast array of decorative products offered by the company include interior emulsion, enamels, exterior emulsion, distempers, textures, putty, cement paints, primers, wood finishes and waterproofing compounds.
Why British Paint?
- Exclusive decorative solution
- Vast range of products
- Pan India network
Sheenlac
Sheenlac was established in 1962, having its corporate office in Chennai, Tamil Nadu.
It has made its mark on the nation with its quality products which comprises mainly of wood finishes, auto finishes, industrial finishes and decorative finishes.
Dulux Paints
Dulux Paint was the production of AkzoNobel India, established in 1932. It is considered amongst the world’s best paint companies and it is a manufacturer of wide range of products for the housing and healthcare sector like wall painting, house painting, door painting etc. It is known for its safe and long-lasting quality, increasing loyalty among consumers.
Why Dulux Paint?
- Luxury-Look
- Great Durability
- Pioneer in Washable paint
- Brand Image
- First mover advantage in Dulux Velvet Touch
Challenges?
- Limited Market Share
Nippon Paints
Nippon is another key player in the paint and coating industry.
It is based out of Japan, with over 100 years of experience. Its innovative and eco-friendly product range includes decorative paints, Marine coatings, Industrial coatings, automotive coatings and fine chemicals. It is marked as the only paint provider for all existing surfaces.
Why Nippon Paint?
- High quality/ Eco-friendly Products
- International Presence
- Wide range of products
- Vibrant marketing
Jotun India Pvt Ltd
Jotun India Pvt Ltd was established in the year 1926, headquartered in Sandefjord, Norway. It mainly offers performance coating including powder, protective, marine and decorative paints. This leading paint company has its presence in over more than 100 countries.
Why Jotun Paints?
- Wide variety
- Pan India network
Not only shades but there are also range of types of the colors available namely:
- Acoustic paint (designed for acoustic tiles)
- Alkyd Resin paint (suitable for areas with maximum usage. Ex: doors, faux finishes)
- Drip less paint (best application for ceilings due to thick texture)
- Latex paint (simple application as it quickly dries and easy to wash)
- One-Coat Paint (expensive, less affordable version of Latex and Alkyd Resin paint)
- Primers (used as base painting for any surface)
- Rubber-Base paint (applicable for concrete and bricks)
- Textured paint (good for flawed surfaces)
Manufacturing Business India
Industrial Manufacturing unit of India makes majority share of growth in Indian economy. Varying in types including machinery and equipment, electrical and metal products, cement, building and construction materials, rubber and plastic products and automation technology products, it has shown promising returns to the GDP of India.
According to the industrial analysis, the manufacturing unit is expected to reach USD 1 trillion by 2025,bringing India to the top rank globally. These factors are expected to significantly boost the industrial plant consumption.
The Indian Paint Industry has made its mark internationally due to the uniqueness of its performance. India holds the most number of outlets in comparison to the paint companies across the world.
Its Paint companies distribution policy leads the market by directly catering to its large number of shops and outlets, unlike other countries where companies generally work through distributers.
Factors Affecting Growth Of Paint Companies:
- Prices of Raw Materials
- Government Laws
- High Competition
- Technology
- Threat of New Entrants
- Seasonal Fluctuations
How is the Paint Industry adding to the development of the country?
There is huge demand for employees in the Paint Industry. Ranging from painting experts to technical experts, this industry is generating jobs for people in huge number, and responsible for bringing down the unemployment rate.
Sector Analysis:
- Supply/Demand
The supply exceeds demand as demand fluctuates depending on housing sector and seasonal nature.
- Barriers to Entry
It is high due to the existing brand presence, distribution network and technology.
- Bargaining Power
Power of suppliers is limited due to competition in sector. Buyers have high bargaining power due to wide range of choices.
Future Prospects:
- Growing market due to increase in middle/upper class population.
- Industrial Coating demand can receive boost due to government initiatives on development of infrastructure.
- The population of youth plays major role in growth of the sector, due to increased workforce.
- Government’s fiscal benefits to housing sector will provide long term benefits.
- Encouraged investments and FDIs.
- Rapid technology developments.
- Under make in India initiative, government aims to increase the share of manufacturing industry.
