CHENNAI: Nippon Paint (India) Private Limited (Decorative Division), Asia Pacific’s leading paint manufacturer, has announced its strategic expansion into the Construction Chemicals market.
Mahesh Anand, president, Nippon Paint India (Decorative) said the company's entry into the Rs 12,500 cr market provided enormous opportunities for growth and innovation.
In line with its global vision, Nippon Paint India is expanding its portfolio beyond the paint and coatings product range. As part of this, the brand is all set to offer products and solutions under the broad categories - dry mix, repair and maintenance, construction chemicals, and waterproofing.
The products will be focusing on three key market segments such as during construction (Concrete admixtures and membranes), post construction (New buildings concrete repair, water proofing, hybrid sealants, and adhesives) and repair and maintenance (Protective coating, sealants, and water proofing).
Its liquid-based products will be manufactured in the Chennai unit, while aerosol-based products will be supplied by acquired companies and volume/powder-based products to be manufactured by strategic manufacturing partners.
While there is a potential to expand dealer network from paint dealers to tile fixers and hardware suppliers across tier II and tier III cities, the focus will also shift towards training different sets of people such as painters and masons, to become expert solution providers:
In 2021, the housing sales in India had risen by over 51 per cent compared to 2020. Though awareness is still low in this huge market segment, research reports project a CAGR of over 10.4 per cent in the next three years. This is expected to increase the present per capita consumption by 2X, the release said.
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