Top 10 Best Paint Manufacturing Companies In India 2023

India’s paint business is one of the fastest-growing in all of Asia. An estimated Rs. 50,000 crores are spent on the domestic paint market. This category has a market share of almost 75%. On the other hand, the industrial paint category has a 25% share in the market.

The businesses’ selection of decorative Indian paints includes exterior and interior wall paints, enamels, and wood treatments. In addition, primers, putties, and other supplementary goods are some of the Indian paint brands’ commodities.

Manufacturers of paint want their products to come level with waterproofing.
Waterproofing materials are similar to paints in terms of technology and commercial factors. As a result, Indian paint manufacturers do not need to spend much money on this because it can be delivered using their current distribution channels.

The profit pool in the Indian paints business is expected to decrease in FY22–23, according to ICICI, as market leaders protect their volumes and market positions at the price of profitability for a few quarters as a deterrent to new entrants.
The Indian paint industry will continue to attract scrutiny as time goes on since it will be exciting to see how new competitors devise strategies to compete with rival firms.

 

FACTORS AFFECTING THE INDIAN PAINT INDUSTRY

Inflationary pressures on raw materials have been a problem for Indian businesses and the paints sector over the last few months. The increase in oil costs and the price of titanium dioxide had the most significant impact on Indian paint business profitability in the previous forty years. Unorganized players were in far more substantial hazard since they lacked the physical strength to negotiate for lower raw material prices.

However, factors like price increases imposed by businesses in the second and third quarters of this fiscal year and some decline in raw material costs, which will help all participants in the sector improve their margins, are starting to look beneficial for the industry.

 

More than 65% of the market for Indian paints and coatings as a whole and 75% of the need for decorative paints are accounted for by the Big Four of the Indian paints industry: Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel India. These four businesses comprise 51% of the Indian Paint industrial market, indicating a highly fragmented industry.
The Indian paints and coatings industry will see great investments from two new entrants in addition to capacity expansion and greenfield plants by current paints and coatings industries.

By the beginning of 2024, it is predicted that the entry of Grasim Industries and JSW Group in the Indian paint industry, and the expression of interest in expansions by two current mid-sized producers (Indigo Paints and Shalimar Paints), will alter the dynamics of the Indian paint and coating manufacturing industry.

Growth In Indian Paint Industry

One sector with the most regulations around the world is the paints, varnishes, and coatings sector. In 2020, the Indian paints sector was the second-largest in the APAC empire. However, the Indian Paint industry has developed remarkably in recent years. The wholesale pricing index for Indian paints and coatings reached its highest level in the past five years in 2019, reaching 112.7. The trade value of the country’s paint sector in 2019 exceeded 57 trillion Indian rupees. The Indian paint industry, the second-largest in the world, had an export value of around 17.43 billion rupees and an import value of about 29.32 billion rupees in the financial year 2020-21.

 

Categories In Indian Paint Industry

Industrial and ornamental paints are the two main categories into which the South Asian country’s paint industry has been divided. The exterior and interior wall paints, enamel and related goods, and wood finishes make up the ornamental part. The industrial section included the automotive, powder, and protective coatings categories. The rhetorical type dominated the Indian market, accounting for nearly 75% of the market share, as opposed to the industrial section, which had a share of just over 25%. This huge gap in market share was caused by less technical accuracy and participation from organized and unorganized players.

 

 

INDIAN PAINT MARKET

 

According to estimates, the domestic paint business is about Rs. 50,000 crores, with decorative paints making up roughly 75% of that market. Decorative paints are divided into several categories based on the surface they are applied to, including external wall paints, interior wall paints, wood finishes, and supplementary goods like primers and fillers.
The industrial paints category makes up the final 25% of the market for paints. It comprises various industries such as automotive, marine, packaging, powder coating, protective coatings, and other industrial paints.

India’s Top 10 Paint Manufacturing Corporations of 2023.

 

  1. Asian Paints Limited

Indian paint company Asian Paints Ltd. has its global headquarters in Mumbai, Maharashtra. It produces, markets, and distributes paints, coatings, furniture, bathroom fixtures, and related products and services.

The third-largest paint manufacturer in Asia, Asian Paints is the biggest in India. Asian Paints is the parent business of Berger International. On revenues of 25,002.5 crores, the company earned a profit of 2,654 crores in 2021-22. The corporation has production facilities in 15 countries, including India, and is well-established in the Middle East and the Indian subcontinent.

Asian Paints first entered the Indian paint market in 1952 and made Rs. 23 crores in sales, although its PBT margin was only 2%. However, by 1967, it had become the largest paint manufacturer in the country.

The four families owned most of the company’s shares. However, international rights surfaced when the firm took its business outside India in the 1990s. Due to the disagreements, Choksey sold its 13.7 percent interest and left in 1997. After Champaklal’s death in July 1997, Atul took over as leader. After futile partnership arbitrations with the British company Imperial Chemical Industries, the remaining three families and Unit Trust of India acquired Choksey’s shares on a mutual basis. As of 2008, the families Choksi, Dani, and Vakil owned 47.81% of the business.

This company is ranked 1st in the Indian paint industry.

Manufacturing locations

Accompanying its subsidiaries, the company runs 26 production facilities across 16 countries, serving clients in more than 65 countries.

Revenue: Rs 25,002.5 Crore
Market Value: Rs 3,18,000.23 Crore
Total Assets: Rs 22,984 Crore
Promoter Holding: 52.79%
Listed Stock Exchange: BSE & NSE
Ticker Symbol: ASIANPAINT

 

2 . Berger Paints

An international paint business with headquarters in Kolkata, India, is called Berger Paints Ltd. 16 production facilities are owned by the corporation, with 2 in Nepal, 1 in Poland, and 16 in India. In addition to Howrah and Rishra, it has production plants in Arinso, Taloja, Naltoli, Goa, Devla, Hindupur, Jejuri, Jammu, Puducherry, and Udyognagar. India, Russia, Poland, Nepal, and Bangladesh are the five countries where the company has The second-largest paint business. One of the fastest expansions is Berger Paints India Limited. In addition, the company has a widespread scattering network of more than 25,000 dealers and more than 3450 employees (excluding its subsidiaries).

Hadfield’s (India) Limited was the business’s original name, with just one factory in Howrah, West Bengal. Hadfield was acquired by British Paints (Holdings) Limited, a British company, in late 1947. This company then went by the name British Paints (India) Limited. Berger Paints India Limited became the company’s new name in 1983. The Delhi-based Dhingra siblings hold the bulk of the shares.

Revenue: Rs 8826.41 Crore
Market Value: Rs 77,412.21 Crore
Total Assets: Rs 7212 Crore
Promoter Holding: 74.99%
Listed Stock Exchange: BSE & NSE
Ticker Symbol: BERGERPAINT

3. Kansai Nerolac Paints Ltd.

 

Based in Mumbai, Kansai Nerolac Paints Limited (formerly Goodlass Nerolac Paints Ltd.) is India’s largest industrial paint manufacturer and third-largest decorative paint producer. It is a division of the Japanese company Kansai Paint. With a 15.4% market share, the firm ranked third in the Indian paint market in 2015. The business is active in the powder coating, automotive, and industrial industries. In addition, it created and supplied paint systems for finishing electrical goods, material handling equipment, bus bodies, and the furniture industry.

Some of the most well-known goods and brands produced by Kansai Nerolac Paint include the following:
Interior wall paints, exterior wall paints, wood surface paints, and metal surface paints are all examples of decorative paints.

Pre-Treatment Chemicals and Electrodeposition in Automotive Coatings. Topcoats, clear coats, touch-up paints, auto refinishing products, heat-resistant paints, underbody paints, PVC sealants, and Rapgard transit protection films are available.

Performance Coatings: Performance Coating can be beneficial for a variety of products. For household appliances and metal fixtures in industries, there is a wide variety of industrial coating systems available, including P.T. chemicals, Primers and Lacquers, Coil coatings, Heat Resistant Paints, and Metal Decoration Coatings.

 

Because of its high quality, corrosion resistance, apparent ease of application, and technological sensitivity to the environment, powder coating is growing in popularity. Due to its significant attribute, resistance against corrosion, the apparent ease of application, and environmental friendliness, powder coating is growing in popularity.

Revenue: Rs 5,305 Crore
Market Value: Rs 32,645.06 Crore
Total Assets: Rs 5,209.12 Crore
Promoter Holding: 74.99%
Listed Stock Exchange: BSE & NSE
Ticker Symbol: KANSAINER

 4. Indigo Paints

 

Indigo Paints Limited is an Indian paint business with three production facilities in Jodhpur, Kochi, and Pudukkottai. Its headquarters are in Pune, Maharashtra. The company makes, sells, and distributes decorative paints, emulsions, enamels, wood coatings, distempers, primers, fillers, and cement paints.

 

One of the 25 anchor investors, the Singapore government, donated $348 crore to the company’s IPO in 2021, together with Fidelity, Goldman Sachs, Nomura, Pacific Horizon Investment Trust, SBI Mutual Fund, ICICI Prudential Mutual Fund, and Axis Mutual Fund.
In 2000, Hemant Jalan founded Indigo Paints to produce cement paint; by 2021, the business had developed itself to rank as the sixth-largest revenue producer in the decorative paint sector.

Revenue: Rs 600 Crore
Market Value: Rs 10,982.25 Crore
Total Assets: Rs 3,993.80 Crore
Promoter Holding: 54%
Listed Stock Exchange: BSE & NSE
Ticker Symbol: INDIGOPNTS

 

                    5. Dulux Paints Ltd.

The corporation has been a remarkable strength in the Indian paints industry for almost a century. Over the years, it has undergone continual expansion, growth, and change. In 2008, Imperial Chemical Industries Ltd. joined the AkzoNobel Group after AkzoNobel N.V. purchased the whole equity share capital of the business.

AkzoNobel India produces and sells paints, coatings, and special chemicals. The most well-known brand in the Decorative Coatings sector is Dulux. On the other hand, the Performance Coatings company provides solutions for several markets and industries, including automotive, consumer electronics, energy, aeronautical, shipping, and recreational craft, construction, petroleum and natural gas, water & wastewater, food & consumables, and so forth.

Within organic peroxides, metal alkyls, and polymer additives, its chemicals company in India sells more than 30 commodities to medical firms, polymer makers, and composite and rubber manufacturers. To maintain our standing as a cutting-edge manufacturer of specialized chemicals, we try to develop new products in India further each year.
All five industrial locations have acquired certification for their management of the environment under ISO 14001 standards.
The company is well-known for its Dulux brand of decorative coatings. One of India’s top paint manufacturers, it is thought to be.

6. Nippon Paint Holdings Co. Ltd.

Nippon Paint Holdings CO., LTD. focuses on manufacturing and supplying fine chemicals and coating materials. The business produces and markets fine chemicals and general, industrial, and automotive paint. Three parts make up the business. The Japan department Asia department handles automobile paints, public and industrial purposes, and fine chemicals for sale in China, Hong Kong, Taiwan, Korea, Southeast Asia, and standard and industrial paint for India.

It has locations in four countries, including Singapore and the United States. It has existed in India for over ten years. The main products are paints, coatings, and fine chemicals. All objects have microbially resistant shields, are water-resistant, and are machine washable.
The business generated 9.34 billion dollars in total revenue and 30 billion rupees in net income last year.

 

 

7. Shalimar Paints

The Shalimar Paint Color & Varnish Company was founded in Howrah in 1902. In 1902, Shalimar Paints opened its first-ever notable manufacturing plant in Southeast Asia in Howrah, West Bengal. In 1992, the firm opened a second manufacturing plant in Nashik, Maharashtra, to serve the western area as it increased its presence all over India.

In 2002, Shalimar Paints built its third manufacturing site in Sikandrabad, Uttar Pradesh.
In addition to decorative paints, the company also manufactures and sells industrial coatings. Some Indian constructions, such as the Howrah Bridge, Rashtrapati Bhawan, Salt Lake Stadium, All India Institute of Medical Sciences, and many others, are still painted with Shalimar Paints.

Revenue: Rs 367.3 Crore
Market Value: Rs 1200.97 Crore
Total Assets: Rs 3,993.80 Crore
Promoter Holding: 53.1%
Listed Stock Exchange: BSE & NSE
Ticker Symbol: SHALPAINTS

8 . British Paints India Limited

Even though British Paints India Limited was established in the U.K. in 1919, it only made its way to India in 1947. However, our varied and vibrant industrial and architectural coatings helped them achieve a lot of traction as a paint company in India.

From decorative paints like texture and enamel to waterproofing solutions like British Waterproofing, British Paints has a solution for all home surface issues, including wall care, maintenance, and industrial solutions like epoxy coatings. Glo Advanced, Shingar Advanced, British Emulsion, Master Blaster, and Acri-silk are some of the company’s well-known goods. Customers receive top-notch coating solutions backed by a committed group of experts with professional and beneficial experience.

 9. Sheenlac Paints

Located in Chennai, India, Sheenlac Paints is a paint producer. The company manufactures and sells paints, thinners, and wood polish products for decorative and commercial uses. One of the top ten manufacturers of paint in India. There are almost 2,000 different types and tones of colors available.

John Peter founded it. It was primarily a tiny business that produced thinners and wood polish goods, but it has since grown into a sizable corporation with more than three branches.

A well-recognized maker of decorative and industrial coatings in India is Sheenlac Paints Ltd. In India, Sheenlac has 26 branches spread out over the country, serving more than 15,000 dealers. In 1962, Mr. John Peter founded the business. The company’s main products include emulsions, distempers, enamels, wall and wood putty, primers, fillers, sealers, thinners, and paint removers, to name a few.

10. Akzo Nobel India

 

Akzo Nobel India firm is competently known for its best paint and coating product. It operates in a total of five locations in India. And its respective workplaces and depots spreading around the country. Further, it tops the list of the largest coating companies in the world.

Above all, it is well recognized for its innovative products. They differ from initial to refinishing products, including decorative paints, coatings, chemicals, etc. This company, one of the top paint companies in India, is known as Dulux Paints.
For more than 60 years, AkzoNobel India has operated in India. One of the top manufacturers of paint and coatings. The corporation has five operating entities with offices and warehouses located all over India. The leading paint brand in India is Akzo Nobel.

Revenue: Rs 3,184.40 Crore
Market Value: Rs 9,613.56 Crore
Total Assets: Rs 3,993.80 Crore
Promoter Holding: 74.76%
Listed Stock Exchange: BSE & NSE
Ticker Symbol: AKZOINDIA

 

 

 

CONCLUSION

 

Paint is something that gives life to a newly constructed building or a house that is to be renovated. With the best color combinations, one can give joy to his eyes.

Above is a list of the top 10 paint companies in India for the year 2023. If you want the best paint for your house, building, or office, you can put your eyes on the attributes of the paint companies mentioned above and select the best suitable one for you.