About the Author
Dr. Gaurav Chandra Srivastav earned his Ph.D. in Chemical Synthesis from the Indian Institute of Technology, where his research focused on Controlled Radical Polymerisation. With over 18 years of experience in the paints, coatings, and ink industry, Dr. Gaurav has contributed significantly in the fields of physical chemistry, surface chemistry, chemical reactions, and reaction mechanisms.
His professional journey spans the development of new formulations, raw materials, and synthesis processes, backed by a strong portfolio of patents, research papers, and technical articles that enhance industry knowledge. Over the years, he has worked with several renowned organisations, and today, he serves as Technical Service & Development Manager – PCR, Indian Subcontinent at Allnex Resins, where he leads technology development, technical services, and planning strategy to initiate business growth.
The Growth Story
When most people think of paints, they picture vibrant walls and colourful homes. But the Indian paints and coatings industry is much more layered. Beyond decorative paints lies the powerful engine of industrial coatings — a segment that quietly powers manufacturing, infrastructure, and exports.
Today, decorative paints account for nearly 70% of India’s market, while industrial coatings make up the remaining 30%. The former is driven by socio-economic aspirations and rising incomes, while the latter grows steadily with India’s expanding manufacturing base and infrastructure push. Together, they form a sector that reflects both India’s domestic growth story and its global ambitions.
A Market with Untapped Potential
Despite India’s large population, per capita paint consumption is still far below developed countries. This gap highlights massive headroom for growth. At the same time, international markets are increasingly sourcing building materials and coatings solutions from India, opening global doors for domestic players.
Raw Materials: The Achilles’ Heel
Raw materials define both the opportunities and risks for paint makers. Around 80% of polymers used in paints are crude oil derivatives. Solvents, pigments, and additives are largely imported. This makes the industry highly vulnerable to global crude oil swings, exchange rate fluctuations, and supply chain disruptions.
The way forward lies in reducing dependency. Backward integration and domestic manufacturing of polymers, pigments, and additives are not just desirable — they are essential for long-term resilience.
R&D: The Missing Link
India’s R&D ecosystem in paints and coatings is evolving but remains behind global benchmarks. Much of the research adapts global technologies instead of pioneering original breakthroughs.
Emerging segments like powder coatings, UV-cured coatings, antibacterial paints, and specialty coatings for textiles and paper are expanding. However, these require sustained investment. Stronger collaboration between industry and academia could fast-track innovation and put India on the global map as a technology hub.
SMEs: The Growth Challengers and Game Changers
Small and medium enterprises form the backbone of India’s coatings sector but face unique challenges. High technical complexity and financial risk often deter them from entering new segments.
Large MNCs can diversify easily, but SMEs must rely on strategic focus, partnerships with research institutions, and innovative business models. Toll manufacturing and alliances offer them safe entry into high-potential niches.
Barriers to Market Diversification
Expansion into specialty sectors such as textile, paper, and electrical coatings is constrained by several factors:
- The need for highly specialised technical knowledge
- Strong marketing expertise to educate customers
- Substantial funding to support R&D and scale-up
Because of these barriers, regional players often choose to consolidate their strengths in existing decorative or industrial coating segments rather than take risks in unfamiliar territories. This limits innovation and slows diversification in the industry.
Digital Transformation: Still Early Days
The digital wave has yet to fully reach India’s paint factories. Many SMEs are hesitant to adopt AI, production tracking software, or supply chain management tools. Generational mindsets and lack of awareness remain barriers.
Yet, the payoff is clear. Pilot projects have shown that digital adoption can reduce costs, improve quality, and enhance competitiveness in export markets.
Sustainability: Tomorrow’s Demand
Eco-friendly coatings are gaining ground, but mainly because global buyers demand them. Within India, consumer awareness is still limited. That said, water-based and low-VOC paints are gradually entering the mainstream.
Forward-looking companies that adopt sustainable practices today will enjoy a strong edge as Indian regulations tighten and consumer awareness rises in the future.
Future Growth Drivers
The future growth of India’s paints and coatings industry will depend on companies embracing visionary leadership that priorities innovation and long-term transformation. Strategic collaborations with global players, research institutes, and startups will be essential to strengthen technical expertise and open new opportunities. At the same time, robust risk management will help businesses navigate raw material volatility and supply chain uncertainties. A sharper focus on solution-centric approaches, tailored to evolving customer needs, will drive stronger market relevance. Finally, aligning with global standards will enhance the competitiveness of Indian products in international markets. By pursuing these priorities, Indian manufacturers can not only solidify their domestic position but also emerge as trusted partners in the global coatings supply chain.
The Road Ahead
The paints and coatings industry in India stands at a critical juncture. Domestic demand is rising, export opportunities are opening, and specialty segments are expanding. But challenges remain: raw material dependency, limited R&D, slow digital adoption, and lukewarm sustainability awareness.
Companies that embrace innovation, build collaborations, manage risks, and embed sustainability into their DNA will not just grow — they will lead India toward becoming a global coatings hub.
Editor’s Closing Note
In the vibrant world of paints and coatings—where science blends seamlessly with creativity—our conversation with Dr. Gaurav Chandra Srivastav was both insightful and inspiring. This wasn’t just about molecules and formulations; it was about the meaning and vision that drive innovation in our industry.
Dr. Srivastav highlighted the importance of reproducibility in lab trials, the delicate balance of pigment dispersion with resin compatibility, and the evolving role of technical documentation in ensuring industrial excellence. His thoughts on collaborative experimentation and process clarity reflect a professional deeply committed not only to technical rigor but also to guiding the next generation.
What resonated most was his unique ability to connect technical depth with cultural and even emotional undertones—whether drawing parallels between formulation and storytelling, or reflecting on sustainability, scale-up challenges, and the fine line between innovation and reliability.
At Industrial Front – PaintVision, we believe in amplifying voices that inspire change, challenge norms, and elevate conversations in the coatings community. Dr. Srivastav embodies all of these qualities—with humility, humor, and an unwavering pursuit of progress.
We thank him for this engaging dialogue and look forward to seeing its impact ripple across labs, classrooms, and boardrooms alike.
— Kanish Malhotra, Editor
Industrial Front – PaintVision