MARKET ANALYSIS
Novel coatings in India R
R R R R R R
3C1B waterborne coating technology from 3C 2B solvent borne technology for automotives 3C 1B solvent borne coating for auto segment High solid/ low temperature curing technology High mar resistance and self healing coatings Radiation (UV, NIR, IR, etc) curable coatings High solar reflective index coating Super durable product (PVDF) with warranty
relatively new in the country compared to that of the developed world. However, it is gaining momentum each day. In order to meet the demands, reputed companies are proactively
working towards the elimination of lead-based raw materials and have substituted non-toxic raw materials. “However, this has increased the cost of input raw materials,” points out Singh. Other significant advances are use of nanotechnology and biobased products. “In keeping with the environmental norms prescribed world over, several paint manufacturers have initiated/implemented measures to curtail the use of components of hazardous nature, notably heavy metal contents. The significant fallout of the environmental concern is the shift in demand from the conventional solvent based paints to water-based paints and powder coating,” says Juthani. Any market demands new products when competition increases. And the paint market is no exception. In the recent past the segment too has witnessed the launch of some new products.
Future outlook According to Singh, rising demand from the construction and automobile sectors, has made the paint companies hopeful of witnessing steady business during the current financial year. He further adds, “Early signs of economic revival and mounting demand from key user industries are tipping the scales in favour of the paint industry.” Buoyed by these developments, paint manufacturers are charting out expansion plans cautiously. Sources closely monitoring the industry say that the strategic tie-ups and alliances are also in the offing. And, new and innovative products will soon find their way into the market. “There are clear signs of the economy stabilising in India. Experts say that in a few years the ratio between decorative and industrial paint marketshare will narrow down considerably and will reflect broad global trends,” avers Singh.
July 2010 | Chemical World
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