Nippon Paint aims to become ‘significant player’ in India market

In this news, we discuss the Nippon Paint aims to become ‘significant player’ in India market.

Nippon Paint India, part of the Singapore-based NIPSEA group, aims to be a “significant player” in the domestic paint market and is investing to achieve it, according to a company official. The company, which operates in paint segments such as decorative, industrial, automotive and wood coatings, reported sales in September nearly equal to the corresponding month of last year and expects a major improvement in October.

Expanding its portfolio, Nippon Paint introduced the ‘a + program’ on Tuesday, which is a complete ecosystem to meet the growing demand for unique design solutions and aims to have a Rs 100 crore business within the next two years. “In the future, India will be a critical market for us. We expect that in the Indian market, we will double and triple our revenues in the next few years, ”Sharad Malhotra, president (automotive refinishing and wood coatings) of Nippon Paint India, told PTI.

He added that the company is investing heavily in the Indian market in terms of infrastructure, manpower and technology, and “we believe we would be a significant player in the Indian market”. Globally, Nippon Paint operates in more than 25 countries. It is a major player in Asia.

Nippon Paint has been operating in India for over 10 years and has expanded into several verticals – from decorative paints to automotive paints, industrial paints and wood coatings. “In total our turnover in the past year was around Rs 1,000 crore and we are one of the fastest growing paint companies in India,” he said. .

Nippon Paint India derives about 60% of its revenue from the decorative paints segment, followed by industry and automotive, Malhotra said. “The opportunities in India are immense and being a relatively newcomer to India, we can expand into all areas where we are present,” he said. The national paint industry is estimated at Rs 50,000 crore and is largely dominated by players such as Asian Paints, Berger Paints India, Kansai Nerolac Paints and Akzo Nobel India.

While talking about his “a + program”, Malhotra said that Nippon Paint India will collaborate with more than 500 leading architects and designers across India. “A + is a unique partnership platform where we co-create and collaborate with architects, designers and consumers to create beautiful finishes for interior spaces. As part of this platform, we will provide holistic solutions from concept to creation, ”he said.

He also said that the space the company enters is fragmented and does not have organized players in the segment. “Right now it’s not a volume game or a revenue game for us. It’s about creating a special solution for customers, who can then create their own market, ”he added.

News Highlights:

  • The company, which operates in paint segments such as decorative, industrial, automotive and wood coatings, reported sales in September nearly equal to the corresponding month of last year and expects a major improvement in October. Expanding its portfolio, Nippon Paint introduced the ‘a + program’ on Tuesday, which is a complete ecosystem to meet the growing demand for unique design solutions and aims to have a Rs 100 crore business within the next two years.
  • Nippon Paint aims to become a ‘significant player’ in the Indian market
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