Indian Chemical News (ICN), the most credible online media platform for Chemicals, Petrochemicals, and Energy sector, is organizing a virtual session on “Paints & Coatings: The Next Growth Frontier” on July 22, 2022 in the second edition of ‘NextGen Chemicals & Petrochemicals Summit 2022’.

The two-day virtual Summit is organised on July 21-22, 2022 and the main theme is "Driving Sustainable Growth." One can register as a delegate for the virtual session by clicking on the link (https://nextgensummit2022.dreamcast.in/signup )

The market size of the global paints and coatings is expected to rise from US$ 167.04 billion in 2022 to USD 235.06 billion by 2029 at a CAGR of 5% during the projected period. Asia Pacific is expected to dominate the global paints and coatings market share due to increasing construction activities and rising government initiatives in developing countries.

The speakers for the session are:  Ashok Kumar Gaind, Joint Managing Director, Acro Paints; Paresh Sakhalkar, General Manager - Sales & Supply Chain, Soujanya Color and Sagar Goel, President, Indian Paint & Coating Association. The session is moderated by Tej Dialani, Founder, Organica Solutions.

“The Indian paints and coatings industry, today worth US$8 billion, is also expected to grow steadily in the short and medium term on the back of strong growth in the Indian economy. India's per capita consumption of paints stood at 4.1 kgs in FY19. Compared to the global average of 13-15 kgs per capita consumption, India’s per capita consumption of paints is just 4.1 kgs in Fy 2019 despite the huge size of the market. Thus, there is immense opportunity for the domestic market to grow in the long term,” Pravin Prashant, Editor, Indian Chemical News, said.

The market for Indian paints and coatings is expected to expand at a CAGR of 8.6% during the next 7-8 years. The growth is propelled by demand in smaller cities at a faster pace than metro and tier I cities, he added. 

The entry of Grasim Industries and JSW Group and expansions by Indigo Paints and Shalimar Paints is bound to change the Indian Paints & coatings industry in days to come.

The e-Session will discuss and explore the possibility of realizing the potential of the Indian paints and coatings industry. The session for key discussion points are: Increasing demand from architectural industry, How Housing for All will change the dynamics of industry, Paints & Coatings: Growth and Sustainability, Use of nanotechnology offering growth opportunities, Impact of strict governmental and environmental regulations and New growth areas and how to drive market.