India Specialty Coatings Market Research Report: Forecast (2025-2030)

Market Definition

Specialty coatings are the protective chemical agents applied to the outer surfaces of different equipment to protect them from harsh environmental conditions, such as corrosion, abrasion, ultraviolet rays, fire, etc.

Market Insights & Analysis: India Specialty Coatings Market (2025-30):

The India Specialty Coatings Market size is valued at around USD 1,311 million in 2025 and is projected to reach USD 2,319 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 12.08% during the forecast period, i.e., 2025-30. The India Specialty Coatings Market is significantly growing due to several growth factors, including the rapid industrialization, the growth of the manufacturing industry, the expansion of specialty coatings producing manufacturing facilities, the development of the residential sector in India, the adoption of technological advancements such as nanotechnology in the production methods, etc.

One of the most prominent growth factors is the rising renewable energy sector in the country, backed by government support. This is due to the county’s sustainable goals for reducing carbon emissions and protecting environmental health. The renewable energy equipment consists of sustainable grids, solar panels, photovoltaic cells, and green insulation, which are highly prone to corrosion, UV damage, and scratches, increasing the demand for specialty coatings in the country.

Additionally, the country is increasing its manufacturing capacity to produce more specialty chemicals locally in the country to avoid import dependence, even for the raw materials, such as resins, epoxy, polyurethane, etc., and uplifting the market size & volume. Moreover, the rapidly growing automotive industry in India is accelerating the demand for specialty coatings to increase the shelf life of vehicles. For instance, in 2024-25, India produced over 30 million vehicles, which has substantially raised the demand for specialty coatings in the country. Furthermore, the integration of nanoparticles in the formulations of specialty coatings is positively transforming the market growth trajectory, as this technological innovation has increased the efficiency of these chemicals. However, the unavailability of raw materials to produce specialty coatings, India relies on imports, which is hindering the market growth & expansion.

India Specialty Coatings Market Scope:

India Specialty Coatings Market Driver:

Rapidly Expanding Manufacturing Facilities Driving Market Growth – India is one of the largest manufacturing hubs for the production of specialty chemicals, including specialty coatings, which has been significantly driving this market. For instance, India has over 100 production activities to substantially manufacture specialty coatings in India.

Additionally, several global players, like BASF, Arkema, Lubrizol, and many more establishing new manufacturing facilities in the country to further expand their manufacturing units in the country. For instance, BASF expanded its e-coating manufacturing facility in Mangalore, while Lubrizol has also announced recently that construct another one of the largest production facilities in Aurangabad, India. Similarly, the ACTEGA company (2024) inaugurated a new WESSCO® UV coatings production facility in India, while the Arkema group in India has increased its production capacity to produce resins, which are active raw materials for specialty coatings, thus supporting the market growth & expansion.

India Specialty Coatings Market Challenge:

Reliance on Imports for Raw Materials – Although the local production is growing due to the rising expansion of manufacturing facilities, the country heavily relies on imports of raw materials, such as resins, epoxy, additives, preservatives, etc., from foreign markets, such as China, Germany, South Korea, the United States, etc. For instance, in 2023, approximately 200,000 metric tons of epoxy resins were imported to India, which is significantly high, thus hindering the smooth market trajectory of this industry.

Additionally, the imported materials are subject to global price fluctuations and policy changes by the country’s government, which further increase the cumulative costs of the raw materials to be imported and lead to supply chain disruptions, ultimately causing losses to manufacturers. For instance, in 2025, the Indian government put import rules and restrictions on the low-ash metallurgical coke, which is an essential raw material for the coating of steel. This regulation has disturbed the supply of met coke from Indonesia and Poland to India in that year, restraining the market growth.

India Specialty Coatings Market Trend:

Adoption of Nanoparticles in Specialty Coatings Formulations – The market dynamics are changing due to the integration of nanoparticles in the formulations of specialty coatings. This is due to these being advanced chemical agents that are highly efficient as compared to the conventional coatings, as these are more protective against scratches, corrosion, harmful radiations, etc. Therefore, such innovative formulations are smarter, sustainable, and actively transforming the India Specialty Coatings Industry.

Several key Indian companies, such as Nanova, Muse Nanobots, Heat Cure, Pellucere Technologies, and many more, have started heavily investing in the manufacturing of specialty coatings by adding nanoparticles in their formulations to increase their efficiency. For instance, in 2025, Pellucere Technologies established a nano coatings plant in Maharashtra with high production capacity, producing over 8,500 metric tons of specialty coatings for solar panels, automotive glass, mirrors, etc. per year. Similarly, in 2024, the Trinano Technologies company launched a Nano-coated film for solar panels. These kinds of product launches are gaining momentum in this market.

India Specialty Coatings Market (2025-30): Segmentation Analysis

The India Specialty Coatings Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2025–2030 at the national level. Based on the analysis, the market has been further classified as:

Based on Product Type:

• Epoxy Coatings
• Polyurethane Coatings
• Fluoropolymer Coatings
• Acrylic Coatings
• Silicone Coatings
• Alkyd Coatings
• Others

Out of these, the acrylic coatings segment is leading the market, with a market share of more than 43%. The dominance is due to the high efficiency, versatility, durability, longevity, and anti-corrosive capacities of these kinds of coatings over other types, thus a highly preferred product type in this market. Additionally, these are highly cost-effective, which increases their affordability among a wide range of end users. For instance, the acrylic coatings cost around USD5-USD10 per liter, while those of other coatings, such as Polyurethane coatings valued over USD15-USD20 per liter, showing the cost-effectiveness of acrylic coatings.

Moreover, these agents have a wide range of applications in various industries such as construction, automotive, transport, electronics, and many more. This is due to the strong protective abilities of these coatings with plastics, glass, wood, metals, etc., contributing to the dominance of acrylic coatings in the market.

Based on Application:

• Industrial
  • Manufacturing
  • Automotive
  • Energy
  • Marine
  • Aerospace
  • Electronics
• Commercial
  • Infrastructure
  • Building
• Residential

Among these, the industrial segment holds the largest market share of more than 50%. This segment is leading due to the rapid industrialization in the country, which uses a substantial amount of equipment and machinery, raising the demand for specialty coatings for their protection from harsh conditions. Additionally, the Indian government is heavily investing in the development of industry in the country. For instance, in 2024, under the Production-Linked Incentive Scheme, the Indian government has allocated about USD2 billion, from which around USD250 million was allocated for the modernization and replacement of various industrial equipment and machinery.

Such kinds of efforts have increased the number of machines and equipment in the country, which has ultimately raised the demand for specialty coatings. Therefore, on average, the annual industrial coatings usage in India is about 2 million tons, which shows its dominance in the market.

India Specialty Coatings Industry Recent Development:

• 2025: Hempel India launched a new Avantguard solution for infrastructure assets requiring long-term protection in high-corrosivity environments, contributing to its sustainability efforts.

• 2025: AkzoNobel N.V. agreed to sell its shareholding in Akzo Nobel India Limited (ANIL) to JSW Group, marking a significant shift in the Indian coatings industry.

Gain a Competitive Edge with Our India Specialty Coatings Market Report

1. India Specialty Coatings Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. India Specialty Coatings Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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