AkzoNobel aims for double digit growth in India and it is planning to focus on its premium paints business to achieve the target.
Currently, 60% of AkzoNobel’s revenue comes from its decorative paints segment - which accounts for approximately 80% of the overall paint market in India.
As the Indian paint market remains quite buoyant, AkzoNobel wants to focus on its premium paints portfolio.
The decorative paint segment has two categories - one is interior paints and the other is exterior or cement paints. Almost 80% of the decorative paints account for interior paints, with categories such as premium, medium and economy.
Further the premium paints can be classified into plastic emulsions while the medium-priced category includes synthetic enamels. Lastly, the economy category consists of distempers.
Find out more about decorative paint markets in Asia at CMT's 19th ASIA Coatings Markets on 21-22 August 2019 in Bangkok.
