India’s paint industry is valued at ₹75,000 crore
It is undergoing a fierce transformation marked by aggressive competition, dealer loyalty battles, and bold expansion strategies in 2025.
Legacy Leaders
Asian Paints
- Market share: ~40% in decorative paints
- Dealer network: 170,000+ outlets
- Repainting contributes ~85%–86% of revenues
Berger Paints
- Market share: 21%
- Dealer network: 70,000+
- Strong presence in tier-II and tier-III cities
Kansai Nerolac
- Market share: 13%
- Dealer network: 30,000+ outlets
AkzoNobel India
- Market share: ~3–4%
- Previously called ICI India Limited
- Focused on urban premium markets
New Challengers
Birla Opus
- Market share: 10%
- Dealer network: 50,000+ Target
- PaintCraft digital-first painting service integrates painters, dealers, and consumers, directly challenging Asian Paint’s Beautiful Homes.
JSW Paints
- Market share: 2-3%
- Dealer network: ~15,000 outlets
- Acquired a 75% stake in AkzoNobel India for ₹9,000 crore in June 2025, bringing Dulux India into its portfolio.
Indigo Paints
- Market share: <2%
- Dealer network: 12,000+
- CSR-driven painter programmes covering 32,500 families
Key Trends
- Dealer trust and inventory turnover are pivotal.
- Overcapacity risks loom, but rising urban and rural demand offer growth.
- Services like waterproofing, construction chemicals, and decorative solutions are gaining traction.
Market share in 2024