Competition Tightens Among The Top Paint Companies

Paint Industry went through different challenges in the current financial year. Thus, all the companies are looking for better ways to deal with the increasing competition in the paint industry. There has been an average performance of the industry in the current financial year. The data states the growth of some companies while others maintain the same level. Let us have a look at the current situation of the paint industry’s competition below.

How The Paint Companies Are Facing The Rising Competition?

The paint industry has top companies such as Asian Paints, Berger Paints, Nerolac, Dulux, and many more. If we talk about their performances, Asian Paints witnessed around 7% YOY volume growth. On the other hand, Berger Paints performed even better with 11.8% volume growth. Nerolac is also having a volume growth of 5%. Apart from that, the paint industry is also facing new entrants. Companies like Birla Opus performed exceptionally well in the market. As we know Asian paints was not able to achieve its double-digit target in growth. They are expecting the same in the coming quarters.

Apart from that, recent studies also show that the paint industry will not have any disruption from the new entrants. It will be a level playing field for all the companies. It will also be interesting to see what all the new and existing players do differently to attract more customers. According to sources, there is not much difference in the price and quality of the Birla Opus compared to other companies. There was a lot of hype for the new entrant in the industry in the beginning. Birla Opus also came up with a lot of enthusiasm in the beginning.

However, things are fading now. Everything is normalising. The price lines are almost similar now. The Nomura reports state that the paint industry will not have any destruction from the new entrants. Thus, it will have a better scope of growth in the coming quarters. As the demand is increasing, the prices and sales will also increase. The market is big enough to have space for all of them. The companies are also taking it quite normally now. Asian Paints and other big companies lowered their prices in the beginning. However, they state that they can grow despite the competition. It makes them even more confident in their growth in the coming quarters. It will be a positive sign for the industry’s growth. Stay tuned for more information.