The Indian paints and coatings industry has recorded a healthy growth rate of over 15% since the 1990s and is now estimated to be over Rs.20000 crore industry. This was mainly due to drastic reduction in excise duty from a staggering 40% in the early 90s to about 16% and also surge in demand from end use sectors as a result of economic liberalization. Going forward, the market is expected to exhibit double digit growth especially due to rising demand from end-use industries like Automotive, Steel, Furniture, Construction and other industries such as Aerospace and Defence.
But in spite of this strong growth over the past 2 decades, India’s per capita paints consumption is still very low (about 1.5 kg) as compared to our neighbor China (about 6.5 kg), indicating the significant potential which the paints & coatings market still has on offer. Also the ratio of decorative to industrial paints segment in India stands at 70:30 as compared to the international ratio of 50:50, indicating the growth potential that still exists in the industrial segment in India. Companies are getting more customer centric, focusing on providing the right products and value added services by adopting latest technology trends.
India’s economy has been growing at around 7-8% in the past decade and the country has made its mark on the global map as a manufacturing destination of choice. This has also led to a surge in country’s exports of both heavy and light engineering goods from a diverse set of high growth industries such as automobiles, auto components, steel products, machine tools, pumps, civil aerospace, consumer durables, electronics, pumps etc.
The resulting demand for paints & coatings has led to rise in the number of players (domestic as well as international) competing in the market, putting pressure on the players to develop more efficient products and processes be it raw material sourcing, manufacturing, delivery or application of paints and coatings. Rapid GDP growth has also led to rising concerns towards “Green Technology” – eco friendly paints & coatings, energy consumption, waste disposal, employee and consumer health and safety. Increasing awareness towards these issues is leading to evolution of the regulations and it is expected that in few years the regulatory standards in India would be on par with the global standards. Developed economies like EU and US are already putting in place stringent standards like REACH, especially for industries dealing with chemicals. Moving forward rapid growth is expected in 'green technology' in the country especially in relation to energy conservation, low VOC (Volatile Organic Compound) emissions and significant shift from solvent to water based paints.
The Conference had plenary sessions covering:
a) Pre-treatment and Surface preparation
b) Powder coating & application equipment
c) Liquid painting / electro-deposition coating, Protective Coating & application equipment
d) Optimization & Automation in Paint shops
e) Testing, Quality Control and Rating Systems for Coating
f) Environment, Health & Safety Regulations & Compliances
g) Recent developments in Architectural Coating
h) Other Emerging Technologies
Durr , Harita-NTI Ltd, VITECH and WAGNER were the sponsors of the conference.
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