Asian Paints identified as an Innovator in the "Top 16 Paints and Coatings Companies by MarketsandMarkets 360 Quadrant"

Paints & coatings are colored substances that, when spread cover surfaces, dry, and leave thin coatings that protect surfaces. They are used for the purposes of decoration and protection in architectural and industrial applications. Paints and coatings provide specific properties such as anti-fouling, flame retardancy, and anti-microbial properties. The demand for eco-friendly and healthier coating systems in the construction industry, as well as the growing need to increase performance, durability, and aesthetics, are important factors driving the growth of the paints and coatings market. The market participants are projected to benefit from increased investment in emerging markets. Stringent and time-consuming regulatory measures, on the other hand, present an expense to market participants.

The Paints and Coatings Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Paints and Coatings. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 300 Paints and Coatings companies of which the top 16 paints and coatings manufacturers were categorized and recognized as the quadrant leaders. The 360 Quadrant effectively maps the companies based on factors such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies that were considered for the market presence of the paints and coatings quadrant.

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Asia Paints - As an Innovator

With a cumulative turnover of 345 billion, Asian Paints is India's major paint and decor industry and is among the top 10 Decorative coatings companies in the world. The company is ranked second in Asia and seventh in the world among major coatings companies. Asian Paints has operations in 15 countries and 27 paint manufacturing plants worldwide, serving customers in over 60 nations. Asian Paints, the parent company, has subsidiaries all over the world, including Asian Paints Berger, Apco Coatings, SCIB Paints, Taubmans, Asian Paints Causeway, and Kadisco Asian Paints.

Asian Paints produces a diverse range of paints for both decorative and industrial applications. Asian Paints Decorative Paints include Interior Paints, Exterior Paints, Wood Paints, and Metal Paints. The company's portfolio also includes waterproofing, adhesives, and wall coverings. It has also introduced the 'Beautiful Homes Service,' an exclusive end-to-end solution that offers users a personalized interior design service with expert execution to help them build their dream homes. Asian Paints has also recently launched a line of Furniture, Furnishings, and Lighting Products under three brands - Nilaya, Royale, and Ador - providing a diverse range of options in the 'Home Décor' sector.

Asian Paints engages in the industrial coatings industry through two 50:50 joint ventures with PPG Inc, USA, one of the world's major automotive coatings manufacturers. The first joint venture, 'PPG Asian Paints Pvt Ltd,' caters to the expanding needs of the Indian automobile coatings sector. The second joint venture, 'Asian Paints PPG Pvt Ltd,' serves the Indian markets for protection, industrial powder, industrial containers, and light industrial coatings.

The business approved the establishment of a manufacturing plant for VAE (Vinyl Acetate Ethylene Emulsion) and VAM (Vinyl Acetate Monomer) in India in October 2022 for an estimated investment of roughly Rs. 2,100 crores over a three-year period. The production facility's installed capacity would be 100,000 tons per year for VAM and 150,000 tons per year for VAE.

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360 Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

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This release was published on openPR.