New Delhi, Dec 16 || India’s paints and coatings industry is projected to grow at a compound annual growth rate (CAGR) of 9.4 per cent till 2030, reaching nearly $16.5 billion in the next five years, up from $9.6 billion in 2024, a report said on Tuesday.
The report from Rubix Data Sciences (Rubix) said that the robust growth is supported by rapid urbanisation, rising disposable incomes, sustained infrastructure development and expanding housing construction.
Further, India’s position as the world’s third‑largest automobile market, and its efforts to reach top spot within five years, is also creating demand for automotive and industrial coatings, the report noted.
The central government’s housing schemes, such as Pradhan Mantri Awas Yojana – Urban, and Pradhan Mantri Awas Yojana – Gramin, are also expected to be major growth drivers.
However, the report added that FY25 marked a turning point for the industry, exposing competitive pressure, margin stress and structural challenges across the value chain.