India’s industrial paints and coatings market is booming with a massive ramp up in infrastructure development, expanding automotive production and growing focus on sustainability. The market is expected to grow at 8-10 percent CAGR over the next few years. The country's rapid urbanization and the ongoing implementation of large scale infrastructure projects like the development of smart cities, highways and industrial corridors are principally driving this trend upward. These initiatives have raised the demand for protective and durable coatings significantly in construction and manufacturing sectors.
The automotive industry, a major area of application for industrial coatings, has been reviving in the course of recent years, too. As vehicle production has increased and electric vehicles have begun to proliferate, there has been an increased demand for advanced coatings that provide better protection and more aesthetic appeal. Industrial coatings enable the extension of automotive component life by resisting corrosion, abrasion, and environmental wear. At the same time, the move towards electric vehicles needs specialized coatings that meet thermal management and conductivity requirements. Market dynamics are further being shaped by environmental regulations that require manufacturers to produce low VOC and water based coatings. Industry is moving towards eco-friendly sustainable solutions as a way of limiting its environmental footprint. Other notable development includes the rise of smart coatings with self-healing and anti-corrosion properties to meet the growing needs for high performance and long lasting solutions.
In this special issue, we introduce you to the top companies in this segment. Industry Outlook has identified the select few companies that have done particularly well with a high level of dedication. We have found that they have gone the extra mile in proving their commitment to excellence in an integrated manner.
We welcome your feedbacks and suggestion that you may have concerning this special issue.
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