Market Size and Growth

• The Indian paint market size was estimated to be around ₹70,000 crores (approximately $9.5 billion USD) in 2022.
• Karnataka accounts for around 15-20% of the Indian paint market share
• The paint market in Karnataka is expected to grow at a CAGR of 10-12% from 2022 to 2025.

Production Capacity

• Karnataka has a total paint production capacity of around 1.5-2 million tons per annum.
• The state is home to several major paint manufacturing units, including those of Asian Paints, Berger Paints, and Kansai Nerolac.

Employment and Revenue

• The paint industry in Karnataka employs around 50,000-60,000 people directly and indirectly.
• The industry generates significant revenue for the state, with estimates suggesting around ₹5,000-6,000 crores (approximately $670-800 million USD) in annual revenue.

Key Segments

• Decorative paints account for around 60-70% of the paint market share in Karnataka.
• Industrial paints account for around 20-25% of the market share.
• Automotive paints account for around 5-10% of the market share.