印度油漆和塗料市場：市場佔有率分析、行業趨勢和統計數據以及成長預測（2026-2031 年）

根據 Mordor Intelligence 預測，印度油漆和塗料市場預計將從 2025 年的 114.5 億美元成長到 2026 年的 125.1 億美元，到 2031 年達到 195 億美元，2026 年至 2031 年的複合年預計成長率為 9.28%。

本報告按技術（水性塗料、溶劑型塗料、粉末塗料及其他技術）、樹脂類型（丙烯酸樹脂、醇酸樹脂、聚氨酯樹脂、環氧樹脂、聚酯樹脂及其他）和終端用戶行業（建築、汽車、木材、防護塗料、一般工業、運輸和包裝）進行細分。市場預測以美元計價。

印度油漆和塗料市場的趨勢和洞察

建築項目（住宅和基礎設施）蓬勃發展。

2023-24會計年度，政府資本支出激增，較2015年增加了兩倍。 「智慧城市計畫」、「印度公路網走廊」以及地鐵網路擴建等措施持續推動對防護塗料、地板塗料和建築塗料的需求。 「飲用水入戶計畫」（Jal Jeevan Mission）為農村地區提供了自來水，也帶動了水質淨化廠和管線防腐蝕塗料的需求。 「總理城市住房計畫（PMAY-Urban）」已成功實現2024年前的住宅交付目標，直接促進了裝飾塗料的銷售量。同時，國家高速公路的定期維護也增加了對工業塗料的需求。

縮短都市區住宅裝飾性塗料的重新粉刷週期

預計到2031年，可支配收入的成長和數位色彩視覺化工具的普及將縮短平均重新粉刷週期。低氣味、高品質的乳膠漆能夠實現當天即可入住，從而促進高附加價值產品組合的構成比。國內製造商正透過承包商的培訓項目，將水性漆定位為“從整個重新粉刷週期來看極具成本效益”，以此對抗當地承包商“只注重價格”的銷售策略。

原物料價格波動與原油價格相關

2024年至2025年間，二氧化鈦（TiO2）價格波動劇烈。二氧化鈦是塗料配方中的關鍵成分，佔塗料成本的很大一部分。這種波動主要源自於全球供應鏈中斷和原油價格波動，進而影響了石化衍生的黏合劑和溶劑。原物料價格上漲擠壓了利潤空間，企業為了維持市場佔有率不得不承擔不斷上漲的投入成本，導致毛利率下降。此外，日益激烈的競爭也縮小了整個產業的利潤空間，使得企業難以將上漲的成本完全轉嫁給消費者。同時，鋅和鋁價格的波動也影響了彩塗鋼板的塗層，而彩塗鋼板則廣泛應用於屋頂和外牆材料。進口產品的競爭進一步加劇了這項挑戰，進口產品的價格低於國產產品，進一步擠壓了本地製造商的利潤空間。整個產業正面臨著如何將飆升的原物料價格轉嫁給消費者的難題。尤其是來自 Birla Opus 和 JSW Paints 等新參與企業的激烈競爭，迫使各公司最佳化配方、降低包裝成本並推進自動化，以維持其營運優勢。

細分市場分析

截至2025年，水性塗料產品將佔印度油漆和塗料市場45.41%的佔有率，預計到2031年將以9.72%的複合年成長率成長。監管壓力以及水性塗料與溶劑型塗料相近的成膜性能，正推動水性塗料產品在裝飾和一般工業應用領域的普及。水性UV固化胺甲酸乙酯和丙烯酸酯塗料在木器塗裝領域市佔率不斷成長，而粉末塗料在家用電器和汽車外飾領域的市佔率也持續擴大。溶劑型塗料在船舶和重工業領域仍佔據主導地位，因為這些領域需要快速固化和極高的耐化學性，但催化氧化設備的投入推高了營運成本，促使原始設備製造商轉向混合型和高固態含量塗料。

第二代水性乳液透過採用核殼結構和可再分散粉末技術，克服了耐磨性和濕度誘導固化方面的局限性，從而縮短了印度塗料行業在熱帶氣候下的重塗間隔。粉末塗料在北部製造業走廊地區蓬勃發展，這得益於德里-NCR地區家電產業叢集的擴張。高固態醇酸塗料和輻射固化油墨滿足了金屬包裝和軟性薄膜層壓等特殊應用的需求，有助於技術組合的多元化。

其他好處：

• Excel格式的市場預測（ME）表
• 3個月的分析師支持

目錄

第1章：引言

• 研究假設和市場定義
• 調查範圍

第2章：調查方法

第3章執行摘要

第4章 市場狀況

• 市場概覽
• 市場促進因素
  • 建築項目（住宅和基礎設施）蓬勃發展。
  • 縮短都市區住宅裝飾性塗料的重新粉刷週期
  • 新冠疫情後汽車和工業生產的復甦
  • 有組織的防水售後市場的興起
  • 到 2027 會計年度將產能翻倍的計畫將實現規模經濟。
• 市場限制因素
  • 原物料價格波動與原油價格相關
  • 印度標準局/中央污染控制委員會加強了對揮發性有機化合物和鉛的監管。
  • 日益激烈的競爭給利潤率帶來了壓力。
• 價值鏈分析
• 波特五力模型

第5章 市場規模與成長預測

• 透過技術
  • 水溶液
  • 溶劑型
  • 粉末塗裝
  • 其他技術
• 依樹脂類型
  • 丙烯酸纖維
  • 阿爾基多
  • 聚氨酯
  • 環氧樹脂
  • 聚酯纖維
  • 其他
• 按最終用戶行業分類
  • 建築學
  • 車
  • 樹
  • 保護塗層
  • 一般工業
  • 運輸
  • 包裝

第6章 競爭情勢

• 市場集中度
• 策略趨勢
• 市佔率和排名分析
• 公司簡介
  • Asian Paints
  • Berger Paints India Limited
  • Birla Opus
  • GEM PAINTS PVT. LTD
  • Grand Polycoats Company Pvt. Ltd
  • Hempel A/S
  • Indigo Paints Ltd
  • JKMaxx Paints Ltd
  • Jotun
  • JSW
  • Kansai Paint Co., Ltd.（Kansai Nerolac Paints Limited）
  • KCCL
  • Nippon Paint Holdings Co. Ltd
  • PPG Asian Paints
  • Shalimar Paints
  • Sheenlac Paints Ltd
  • Sirca
  • Snowcem Paints
  • Surfa Coats India Private Limited

第7章 市場機會與未來展望

According to Mordor Intelligence, the India paints and Coatings Market size is expected to increase from USD 11.45 billion in 2025 to USD 12.51 billion in 2026 and reach USD 19.5 billion by 2031, growing at a CAGR of 9.28% over 2026-2031.

This report is Segmented by Technology (Water-Borne, Solvent-Borne, Powder Coatings, and Other Technologies), Resin Type (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), and End-User Industry (Architectural, Automotive, Wood, Protective Coatings, General Industrial, Transportation, and Packaging). The Market Forecasts are Provided in Terms of Value (USD).

India Paints and Coatings Market Trends and Insights

Booming Construction Pipeline (Housing and Infrastructure)

In 2023-24, government capital expenditure surged, marking a threefold increase from FY 2015. Initiatives like the Smart Cities Mission, Bharatmala corridors, and metro-rail expansions are fueling a consistent demand for protective, floor, and architectural coatings. The Jal Jeevan Mission, which has provided rural tap-water connections, is spurring a heightened need for anti-corrosive coatings in treatment plants and pipelines. The Pradhan Mantri Awas Yojana-Urban (PMAY-Urban) has successfully delivered houses by 2024, directly benefiting decorative coating volumes. Meanwhile, industrial coatings are in demand due to the regular maintenance needs of national highways.

Shortening Decorative Re-paint Cycle among Urban Homeowners

Disposable-income gains and digital color-visualization tools are reducing the average repaint interval by 2031. Premium low-odor emulsions allow same-day reoccupation, supporting higher-value product mixes. National manufacturers are using contractor-training programs to position water-borne offerings as cost-effective over a full repaint cycle, countering price-only pitches from local players.

Crude-Linked Raw-Material Price Volatility

In 2024-2025, titanium dioxide (TiO2), a key component constituting a significant portion of paint formulation costs, saw its prices fluctuate. These swings were largely influenced by global supply disruptions and fluctuations in crude oil prices, which in turn impact petrochemical-derived binders and solvents. Inflation in raw materials led to margin compression, with gross margins declining as companies absorbed rising input costs to maintain their volume share. Industry margins also contracted due to heightened competitive intensity, which hampers the industry's ability to fully pass on cost increases. Additionally, volatility in zinc and aluminum prices impacts color-coated steel coatings, commonly used in roofing and cladding. Compounding the challenge, import competition prices these products lower than domestic offerings, further squeezing margins for local manufacturers. The sector grapples with the challenge of passing on raw material inflation. Intense price competition, especially from new entrants like Birla Opus and JSW Paints, has led companies to optimize formulations, trim packaging costs, and ramp up automation efforts to maintain their operating leverage.

Other drivers and restraints analyzed in the detailed report include:

1. Post-COVID Recovery in Automotive and Industrial Production
2. Emergence of Organised Waterproofing After-market
3. Stricter BIS/CPCB VOC and Lead Regulations

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Water-borne products held 45.41% of India's paints and coatings market share in 2025 and are projected to grow at a 9.72% CAGR through 2031. Regulatory pressure, coupled with improved film-property parity versus solvent systems, underpins adoption in both decorative and general industrial applications. Water-based UV-curable urethane-acrylate systems are gaining a foothold in wood finishes, while powder coatings continue to build in appliance and automotive exterior trims. Solvent solutions still dominate marine and heavy-duty segments that require rapid curing and extreme chemical resistance, but investments in catalytic-oxidation units raise operating costs, nudging OEMs toward hybrid or high-solid alternatives.

Second-generation water-borne emulsions use core-shell and redispersible-powder technologies to overcome scrub-resistance and humidity-cure limitations, enabling faster re-coat windows in tropical climates across the Paint Industry in India. Powder coatings are enjoying growth in the northern manufacturing corridor, supported by appliance cluster expansion around Delhi-NCR. High-solid alkyd and radiation-curable inks fill specialty gaps in metal packaging and flexible-film lamination, diversifying technology portfolios.

Complete Report Scope:

• By Technology
  • Water-Borne
  • Solvent-borne
  • Powder Coatings
  • Other Technologies
• By Resin Type
  • Acrylic
  • Alkyd
  • Polyurethane
  • Epoxy
  • Polyester
  • Others
• By End-user Industry
  • Architectural
  • Automotive
  • Wood
  • Protective Coatings
  • General Industrial
  • Transportation
  • Packaging

List of Companies Covered in this Report:

1. Asian Paints
2. Berger Paints India Limited
3. Birla Opus
4. GEM PAINTS PVT. LTD
5. Grand Polycoats Company Pvt. Ltd
6. Hempel A/S
7. Indigo Paints Ltd
8. JKMaxx Paints Ltd
9. Jotun
10. JSW
11. Kansai Paint Co., Ltd. (Kansai Nerolac Paints Limited)
12. KCCL
13. Nippon Paint Holdings Co. Ltd
14. PPG Asian Paints
15. Shalimar Paints
16. Sheenlac Paints Ltd
17. Sirca
18. Snowcem Paints
19. Surfa Coats India Private Limited

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Booming Construction Pipeline (Housing and Infrastructure)
  • 4.2.2 Shortening Decorative Re-paint Cycle among Urban Homeowners
  • 4.2.3 Post-COVID Recovery in Automotive and Industrial Production
  • 4.2.4 Emergence of Organised Waterproofing After-market
  • 4.2.5 Capacity-Doubling Plans up to FY-27 Creating Economies of Scale
• 4.3 Market Restraints
  • 4.3.1 Crude-Linked Raw-Material Price Volatility
  • 4.3.2 Stricter BIS/CPCB VOC and Lead Regulations
  • 4.3.3 Margin Compression from Intensifying Price-Based Competition
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Value)

• 5.1 By Technology
  • 5.1.1 Water-Borne
  • 5.1.2 Solvent-borne
  • 5.1.3 Powder Coatings
  • 5.1.4 Other Technologies
• 5.2 By Resin Type
  • 5.2.1 Acrylic
  • 5.2.2 Alkyd
  • 5.2.3 Polyurethane
  • 5.2.4 Epoxy
  • 5.2.5 Polyester
  • 5.2.6 Others
• 5.3 By End-user Industry
  • 5.3.1 Architectural
  • 5.3.2 Automotive
  • 5.3.3 Wood
  • 5.3.4 Protective Coatings
  • 5.3.5 General Industrial
  • 5.3.6 Transportation
  • 5.3.7 Packaging

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 Asian Paints
  • 6.4.2 Berger Paints India Limited
  • 6.4.3 Birla Opus
  • 6.4.4 GEM PAINTS PVT. LTD
  • 6.4.5 Grand Polycoats Company Pvt. Ltd
  • 6.4.6 Hempel A/S
  • 6.4.7 Indigo Paints Ltd
  • 6.4.8 JKMaxx Paints Ltd
  • 6.4.9 Jotun
  • 6.4.10 JSW
  • 6.4.11 Kansai Paint Co., Ltd. (Kansai Nerolac Paints Limited)
  • 6.4.12 KCCL
  • 6.4.13 Nippon Paint Holdings Co. Ltd
  • 6.4.14 PPG Asian Paints
  • 6.4.15 Shalimar Paints
  • 6.4.16 Sheenlac Paints Ltd
  • 6.4.17 Sirca
  • 6.4.18 Snowcem Paints
  • 6.4.19 Surfa Coats India Private Limited

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-need Assessment