2023's Top 10 Paint Companies in India: Meet the Industry Leaders

India is a country where the use of paint is very high. The paints are used in different ways to give the buildings, houses, and other infrastructure a good look.

The paint industry in India has seen significant growth in the last decade, with new companies coming in and the existing ones expanding their business. The Indian paint industry is one of the largest in the world, and it is expected to continue to grow in the coming years.

This article will discuss the top 10 paint companies in India in 2023. We will discuss the background of these companies, their products, their market share, and their financial performance.

Top 10 Paint Companies in India 2023: Unveiling the Industry Leaders Dominating the Market!

1. Asian Paints

Asian Paints is the largest paint company in India, with a market share of around 54% in the decorative paints segment.

The company was founded in 1942 and has its headquarters in Mumbai, Maharashtra. The company has a presence in 15 countries and has 26 paint manufacturing plants in India.

Asian Paints has a wide range of products, including interior and exterior paints, enamels, and emulsions. The company is known for its innovation and is constantly coming up with new products.

In 2020, the company reported a revenue of Rs. 20,522 crore and a net profit of Rs. 2,674 crore. The company's market capitalization is around Rs. 2.3 lakh crore.

2. Berger Paints

Berger Paints is the second-largest paint company in India, with a market share of around 20% in the decorative paints segment.

The company was founded in 1923 and has its headquarters in Kolkata, West Bengal. The company has a presence in 5 countries and has 14 paint manufacturing plants in India. Berger Paints has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 6,630 crore and a net profit of Rs. 569 crore. The company's market capitalization is around Rs. 68,000 crore.

3. Kansai Nerolac

Kansai Nerolac is the third-largest paint company in India, with a market share of around 16% in the decorative paints segment.

The company was founded in 1920 and has its headquarters in Mumbai, Maharashtra. The company has a presence in 4 countries and has 5 paint manufacturing plants in India. Kansai Nerolac has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 5,245 crore and a net profit of Rs. 526 crore. The company's market capitalization is around Rs. 29,000 crore.

4. AkzoNobel India

AkzoNobel India is the fourth-largest paint company in India, with a market share of around 8% in the decorative paints segment.

The company was founded in 1918 and has its headquarters in Mumbai, Maharashtra. The company has a presence in 80 countries and has 9 paint manufacturing plants in India.

AkzoNobel India has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 2,779 crore and a net profit of Rs. 257 crore. The company's market capitalization is around Rs. 13,000 crore.

5. Shalimar Paints

Shalimar Paints is the fifth-largest paint company in India, with a market share of around 4% in the decorative paints segment.

The company was founded in 1902 and has its headquarters in Gurugram, Haryana. The company has a presence in 4 countries and has 7 paint manufacturing plants in India.

Shalimar Paints has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 384 crore and a net loss of Rs. 77 crore. The company's market capitalization is around Rs. 370 crore.

6. Nippon Paints

Nippon Paints is the sixth-largest paint company in India, with a market share of around 3% in the decorative paints segment.

The company was founded in 1881 and has its headquarters in Osaka, Japan. The company has a presence in 17 countries and has 5 paint manufacturing plants in India.

Nippon Paints has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 1,170 crore and a net loss of Rs. 23 crore. The company's market capitalization is around Rs. 4,200 crore.

7. Jotun Paints

Jotun Paints is the seventh-largest paint company in India, with a market share of around 2% in the decorative paints segment.

The company was founded in 1926 and has its headquarters in Sandefjord, Norway. The company has a presence in 90 countries and has 2 paint manufacturing plants in India. Jotun Paints has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 490 crore and a net profit of Rs. 25 crore. The company's market capitalization is around Rs. 1,300 crore.

8. Snowcem Paints

Snowcem Paints is the eighth-largest paint company in India, with a market share of around 1% in the decorative paints segment.

The company was founded in 1959 and has its headquarters in Mumbai, Maharashtra. The company has a presence in 6 countries and has 3 paint manufacturing plants in India. Snowcem Paints has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 144 crore and a net profit of Rs. 7 crore. The company's market capitalization is around Rs. 120 crore.

9. Jenson & Nicholson

Jenson & Nicholson is the ninth-largest paint company in India, with a market share of around 1% in the decorative paints segment.

The company was founded in 1922 and has its headquarters in Kolkata, West Bengal. The company has a presence in 3 countries and has 5 paint manufacturing plants in India.

Jenson & Nicholson has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 102 crore and a net loss of Rs. 7 crore. The company's market capitalization is around Rs. 90 crore.

10. Indigo Paints

Indigo Paints is the tenth-largest paint company in India, with a market share of around 1% in the decorative paints segment.

The company was founded in 2000 and has its headquarters in Pune, Maharashtra. The company has a presence in 27 states in India and has 6 paint manufacturing plants. Indigo Paints has a wide range of products, including interior and exterior paints, enamels, and emulsions.

In 2020, the company reported a revenue of Rs. 1,052 crore and a net profit of Rs. 99 crore. The company's market capitalization is around Rs. 18,700 crore.

Conclusion

The Indian paint industry is a growing industry, with a lot of potential for future growth. The top 10 paint companies in India in 2023, as mentioned above, have a combined market share of around 78% in the decorative paints segment.

The companies have a wide range of products and a strong presence in the Indian market.

The Indian paint industry is expected to grow at a CAGR of 11.7% between 2020 and 2025.

The growth can be attributed to factors such as increasing urbanization, rising disposable income, and growing infrastructure development.

The industry is also witnessing a shift towards the use of eco-friendly and sustainable products, which is likely to drive the growth of the industry in the coming years.

In conclusion, the Indian paint industry is poised for growth, and the top 10 paint companies in India are well-positioned to capitalize on this growth. 

The companies are continuously investing in research and development to come up with innovative and eco-friendly products to cater to the changing needs of consumers.

With their strong distribution networks and brand presence, these companies are expected to maintain their dominance in the Indian paint industry in the years to come.