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The Indian paint industry has witnessed enormous growth over the past few years with rapid urbanisation, revival of the economy and increase in the disposable incomes. This has put the paint market and specifically the decorative paint market, on a growth trajectory. Under the decorative paint market, emulsion paints are the fastest growing segment. According to the latest report by RNCOS ‘Booming Paint Industry in India’ emulsion paints are becoming popular among the masses as they are less toxic than most oil-based paints, with no profound odour and release less VOCs (Volatile Organic Compounds).
Increasing penetration of emulsions in the market has also been supported by the efforts on the part of the paint manufacturers to provide varying degrees of shine in emulsions ranging from matte and eggshell to gloss and luxurious silk effects. Moreover, manufacturers have also forayed into providing a wide choice to customers with the introduction of plastic, acrylic and textured emulsions, each having their unique properties to lure the customers.
The report divides the market into decorative and industrial paints, with market forecasts until FY 2015-16 for various components along with their segments.