Kamdhenu tie-up with Spanish paint manufacturer Graphenstone to present the eco-friendly paints in India which will propel the paint & coating market
India: India’s leading manufacturing Kamdhenu came together with Spanish firm Graphenstone to bring safe eco-friendly paints in India. Graphenstone is the first global manufacturer to introduce organic paints. The move is aimed at tapping the growing demand for high-quality, green paints in the country as a result of an increasing consciousness among consumers for the environment. The government is also supporting such innovations that are free of VOC to improve the environment and to provide healthy surroundings. The company products are produced from fewer than 250 chemical components and more than 98% of these chemicals are derived from plant sources and minerals.
According to BlueWeave Consulting, Increasing demand from several end-use industries such as automotive, construction, marine, aerospace, protective, transportation, and packaging will upsurge the paint and coating industry in the upcoming year. Paints and coatings are key elements in protecting building structures and components. The eco-friendly paints are free of volatile organic compounds (VOC) emission. Many countries have introduced new regulations regarding the use of VOC products which is also fueling the demand for eco- friendly products. Additionally, the sales of thinners and specialist paint preparation and cleaning products will decline due to the emerging demand for environment approachable paints. The global paints and coatings market is expected to rise in the coming years as leading companies have decided to add more organic and natural finished products to their portfolio. Also, coatings have an impact on air quality and odor elimination, mildew and mold resistance, and microbicidal properties. Moreover, they improve air quality and reduce the presence of unpleasant odors along with neutralizing airborne concentrations of formaldehyde and other aldehydes.
According to BlueWeave consulting’s report, Titled –“Global Paints and Coatings Market Size, By Resin (Acrylic, Polyurethanes, Polyesters, Epoxy, Alkyd), By Technology (Water-based, Solvent-based, High Solid, Powder, and Others), By Application (Automotive and Transportation, Aerospace, Building and Construction, Packaging, Health Care and Medical Devices, Marine, Electrical and Electronics), By Region (North America, Europe, Asia Pacific, Middle East &Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2015-2025”
The Global Paints and Coatings Market is expected to grow at a significant rate, during the forecast period 2019-2025. Owing to rising urbanization, increasing global population and changing lifestyles coupled with advancements in the building & construction industry. Furthermore, the growth of middle-class population in emerging economies, improved standards of living, coupled with growing disposable income, has led to rising purchase of vehicles among consumers which will trigger the global paints and coatings market in the future timeline. Also, a rise in demand for bio-based products and sustainable solutions, including amendments in regulations in the recent past will propel the growth of global paints and coatings market during the forecast period.