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India Paint Market Outlook, 2023

‘Asian paints digital innovations to become customer centric.’ – Bonafide Research
Asian Paints is creating a great digital vision and helping build technology platforms for customers with new innovations. The company has a strong web presence and thus is a strong platform for consumers looking for painting and decorating their homes. All main websites of Asian Paints, www.asianpaints.com, www.sleekworld.com, www.beautifulhomes.com and the websites of international units have been significantly helping out customers.

There is a huge supply in today’s paint market and it is necessary to be different. A retailer needs to be different from the masses and anticipate market changes. There needs to be strong channel between online and physical stores in order to make the profile strong. There is lot of information available for consumer and can easily compare prices. Also online and in-store a chosen colour combination may be sent to an e-mail address. This way the consumer can let it sink in, discuss with others and always has the right colour codes at hand. Thus, it would be great for both consumers and retailers. With the paint industry growing faster and faster, due to increase level of education, customer awareness and willingness to spend, this has brought about a revolutionary change in the paint industry.

According the report on 'India Paint Market Outlook, 2023' published by Bonafide Research, the paint market has grown with a CAGR of more than 12% in volume terms during 2011-12 to 2016-17 period. Rapid industrialization and increasing customer needs have forced leading manufacturers to develop differentiated products, which results new products or variant, and pricing.
So to address this customer need, Asian Paints has invested in 3-D visualization technology for the ‘Asian Paints Homes Stores’ and for the kitchen business. This empowers the Asian Paints consultants to create a visual model within a short period of time and making the customers work easy. Asian Paints is devising innovative ways to help customers help themselves. It is in the process which can help customers in taking the right decisions. Asian Paints has also come up with software “Eureka” for getting new ideas around new products. It has helped in generating a significant number of ideas and has seen an encouraging response across. These initiatives are devised keeping the customer in mind and helps them to deliver better.
Report Link: https://www.bonafideresearch.com/product/180660041/India-Paint-Market-Outlook-2023

Major Companies
Major companies that operate into the Paint market in India are Asian paints Ltd, Berger paints Ltd, Akzo Nobel India, Kansai Nerolac paint Ltd, Pidilite industries ltd, Jenson & Nicholson India Ltd, Shalimar paints ltd, Snowcem paints Pvt Ltd, British paints India Ltd, Jotun India Pvt Ltd, Mysore paints and Varnish Ltd, British Paints, Birla white, Gem paints, Suraj coats, Apollo paints Pvt Ltd, Advance paints Pvt ltd and Nippon Paints.

Report: India Paint Market Outlook, 2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23
Pages: 130 Figures: 47 Tables: 57

Bonafide Research is a multi-disciplinary research and consulting company which provides all the information streams required to solve strategic, business and marketing problems. Bonafide is a one of the fastest growing market research and consulting company offering syndicated research reports, custom research solutions and marketing services for a variety of industry verticals. We have already reached a milestone of 200 niche market research studies. Bonafide Research has been closely working with fortune 500 clients by helping them in tracking the constantly changing market scenarios. Not only fortune 500`s, we have served to mid-size companies, small specialists and even start-ups. Our customers do not see Bonafide merely as a research provider, but a long-term partner who can help them maximize the value of information. Our quality of work has ensured repeat business, recognition and recommendations from clients across the world. It is believed that clients come first and we are always willing to take a step ahead to serve them better.

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