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10+ Best Paint Companies in India (2023)
Looking for the top paint companies in India? We have rounded up the best paint companies in India with a wide range of paint quality and materials to help you identify the best among all.
The estimated size of the Indian paints market is about US2.5$ billion contributed by organized and unorganized segments. This gap has been steadily decreasing providing a level playing field to both by a steady and steeped reduction in excise duties over the last few years from 40% to 14% as the organized sector is subjected to excise duty.
The Indian paint industry is segmented into the decorative and industrial markets. The decorative market catering to the housing sector has been valued at US 1.7 billion and the Industrial market catering to automobile OEM, industries, and railways has been valued at US $0.8 billion. With the current demand of 6,50,000 tonnes, the per capita consumption of India is amongst the lowest in the world.
Owing to the boom in the housing sector, increasing urbanization, easy availability of loans, and shift from kaccha or semi-permanent to permanent housing structure the demand for the decorative paints segment is increasing which constitutes 70% of the Indian paint industry. However, due to rapid industrialization, and the increase in manufacturing over the past few years the ratio of industrial to decorative paints is expected to be 50:50 in line with global trends.
Top 10 Paint Companies in India (2023)
Apart from global players like Akzo Nobel, Sherwin Williams, Nippon, and Jotun have set up their shops in India, here are the best paint companies in India.
1. Asian Paints Ltd.
Asian Paints is one of the largest paint companies in India with a market share of over 50%. Founded in 1942 by four friends who were willing to take on the world’s biggest, most famous paint companies operating in India at that time. Asian Paints is India’s leading paint and decor company and is ranked among the top ten Decorative coatings companies in the world. The company is ranked 2nd in Asia and 7th amongst the top paint companies in the world.
Asian Paints manufactures a wide range of paints for decorative and industrial use and also offers Wall Coverings, waterproofing, adhesives, and services under its portfolio. The company also manufactures and sells chemicals, decorative paints, and industrial finishing products like varnish for wood and coating elements.
The company has many manufacturing facilities and distribution lobbies maintained by about 8,000 employees. Recently the company entered into an agreement with Weatherseal Fenestration for acquiring a 51% stake. Asian Paints operates in 15 countries and has 27 paint manufacturing facilities in the world servicing consumers in over 60 countries.
Besides Asian Paints, the group operates around the world through its subsidiaries – Asian Paints Berger, Apco Coatings, SCIB Paints, Taubmans, Asian Paints Causeway, and Kadisco Asian Paints.
2. Berger Paints India Ltd.
Berger Paints was founded by Lewis Berger way back in 1760 in the UK. With modest beginnings in India in 1923, today, Berger Paints India Limited is the second largest paint company in the country with a consistent track record of being one of the fastest growing paint companies, quarter on quarter, for the past few years.
Currently, the majority stake is with the Delhi-based Dhingra brothers. Berger Paints has established itself over a long course of time. The company has 16 manufacturing facilities including 2 in Nepal and 1 in Poland outside India.
Berger Paints India is headquartered in Kolkata, with 16 strategically located manufacturing units across India (including the subsidiaries), 2 in Nepal, 1 each in Poland and Russia, and about 162 stock points. The company also has an international presence in 4 countries (Nepal, Bangladesh, Poland, and Russia).
With an employee strength of above 3,450 excluding the subsidiaries and a countrywide distribution network of 25,000+ dealers, Berger is acclaimed as a game changer in the sector with a vibrant portfolio of paints and tailor-made customer services in every paint segment. Today the company has more than 25,000 unique dealers with ‘Green Light’ being one of the best products of Berger Paints. Due to its market cap, it scores 2nd position in the list of top 10 paint companies in India.
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3. Dulux Paints Ltd.
Dulux is the most popular among the top 10 paint companies in its Decorative coatings business while the Performance Coatings business provides solutions to many industries and sectors including automotive, consumer electronics, power, aviation, shipping & leisure craft, construction, oil & gas, water & wastewater, food & beverages, etc. AkzoNobel India manufactures and markets paints, coatings, and specialty chemicals.
With an employee strength of close to 1,800, AkzoNobel India has manufacturing sites, offices, and a distribution network spread across the country. All of their paints are of high quality with a long adherence period and germ protection shields installed.
The company offers a wide range of products and one such excellent product is Dulux Trade Vinyl Matt makes it one of the top paint brands in India. Its chemicals business in India sells more than 30 products grouped under organic peroxides, metal alkyls, and Polymer additives to pharmaceutical companies, polymer producers, composite, and rubber industries.
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4. Indigo Paints
Indigo Paints is one of the leading paint companies in India where Indian cricketer M.S. Dhoni is the brand ambassador for this company. It offers ready-made color combinations and compliments so that you don’t need to get confused by hundreds of shades.
Their range of products includes interior and exterior emulsions, enamels, putties and primers, sleek wood coatings, and more. But what makes Indigo different from other paint brands in India? The answer is not only are products from Indigo Paints different, but they have introduced products where none existed.
They have identified and catered to niche, unique customer requirements have been in the DNA, and products like Ceiling coat emulsion, Metallic emulsion, and Floor Coat emulsion are just a few examples of how they have trendsetters in the industry. Also, they have dedicated themselves to satisfying true customer needs.
5. Nippon Paint Holdings Co. Ltd.
Nippon Paint Holdings is a Japanese paint and paint products company. It was founded by Jujiro Motegi under the brand name Komyosha. The company established a 50/50 joint venture with bee chemicals and grew to one of the largest paint companies in India.
It has branches in four countries including Singapore and the United States. It has been in India for a decade now. The main products are paints, coating, and fine chemicals. All of the pains are easily washable, are water-resistant, and have germ protection shields.
6. British Paints India Ltd.
British Paints is another one of the best paint companies in India. It is widely acclaimed for offering customized painting services as a part of its sales service. They majorly aid hospitals, corporates, and institutions with their painting needs.
It offers a huge collection of decorative paints and industrial paints, wherein decorative, there are various emulsions, primers, distempers, waterproofing, putty, and texture paints whereas Industrial offers a coating segment and industrial products list.
7. Nerolac Paints Ltd.
Kansai Nerolac is one of the leading and among the top 10 paint companies in India. Formerly known as Goodlass Nerolac, it is also the third-largest decorative paint company in India. It is headquartered in Mumbai and was founded by Katsujiro Iwai in 1918 in Amagasaki City, Japan.
It develops and supplies paint systems used on the finishing lines and furniture industries. The main products are chemicals, decorative paints, industrial finishing products, and coatings.
The total number of employees is 3,008 as of recent data. Its wide range of products such as Nerolac Beauty GOLD makes it one of the best paint companies in India.
8. Sirca Paints
Sirca Paints is one of the best paint companies in India which can bring Italy to your Home. Yes, you heard that right. You can upgrade your home, office, or anything with the premium range of Italian products from Sirca India can definitely be your best pick.
Sirca Paints offers the beauty of the city of lakes, Roman architecture, Italian art, and beautiful decor while sitting at home by creating an unmatchable class, the natural products add finesse and grandeur to your space.
The key features of Sirca Paints are that they are effective UV protection with non-yellowing properties which are resistant to wear over time and preserve the natural beauty and color of the wood.
Also, this paint comes with low odor, and low VOC is easy to apply, and comes with a premium range of Italian finishes. It offers a full range of interior, exterior, wall primers, wall putty, effects, and finishes making it one of the best paint brands in India.
9. Shalimar Paints Ltd.
Shalimar Paints is an Indian paint manufacturing company listed on BSE. The company’s core business is to manufacture and market decorative paints and industrial coatings. Some of our national buildings like Rashtrapati Bhawan and AIIMS are famous contractors.
Two British entrepreneurs AN Turner and AC Wright founded it. It is headquartered in Mumbai. Shalimar is also the first company to paint an Indian aircraft for the army.
The company also has other chemical finishers like alkyd products and acetones. In India, the company has also established itself as a successful company in the southeast.
10. Jenson & Nicholson Paints
Jenson and Nicholson is a joint venture company of Sheenlac & Jenson and Nicholson. It established its presence in 1922. The company is considered the second-oldest paint company.
Their main products include both industrial and decorative paints. All of their products are eco-friendly and effective against germs. Automotive paints bring a large number of industrial contractors to the company. Industrial paints have a long adherence period.
11. Sheenlac Paints
Sheenlac Paints is an Indian paint company headquartered in Chennai, India. The company manufactures and distributes paints, thinners, and wood polish products for both decorative and industrial purposes. It is one of the top 10 paint companies in India. The colors come in 2,000 types and several shades.
It was founded by John Peter. Initially, it started as a small company for manufacturing thinners and wood polish products and later turned into a big firm operating more than three branches.
The company also has 4 manufacturing plants in the country including one in Sri Lanka operating since 2012.
12. Snowcem Paints
Snowcem Paints is an Indian-based paint manufacturing facility founded by Muraru Lal Kundlas. The company has established its presence by manufacturing a wide range of paint and related products.
The products include interior and exterior paints, finishing products, chemicals, and wood polish products. The company’s total annual revenue is about 95C INR, and the EBITDA value has increased by 5.90% from last year.
13. Agsar Paints
Agsar Paints is a leading paint manufacturing company located in Tuticorin, Tamil Nadu. The company has been involved in manufacturing paints and paint-related products for a long time.
All of their products are eco-friendly, dustproof, weatherproof, and sunproof. The main categories of their products are decorative, industrial, and ancillary.
They have a wide range of budget plans for different designs to meet the needs of consumers.
Q1. Which is the No. 1 paint company in India?
Asian Paints and Dulux Paints are the best paint companies in India.
Q2. Which is the best paint stock in India?
Asian Paints is the best paint stock in India.
Q3. Which are the top paint brands in India?
All the mentioned in this list are top paint brands in India though some are widely used such as Asian Paints, Dulux Paints, and Berger Paints.
Q4. Which is the largest paint manufacturer in India?
Undoubtedly, Asian Paints Limited scores the #1 position as the largest paint manufacturer in India with close to 50% market share.
The Top 10 Paint Companies in India
So, these were the top 15 best Indian paint brands ranked in ascending order in terms of Market Cap, Annual Revenue, Net Profit, Total Assets, and Equity Values.
I hope you found this list of the best paint in India helpful to decide which paint to buy as per your desire. If you have doubts or suggestions, feel free to comment below.
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