VOL 08 | ISSUE 09 | 2021
Industry Scenario
Scope of Paints & Coating Industry in India
Aesthetics and Designs The Psychological Effects of Aesthetics in Commercial Spaces
India's
Most Admired
PAIN S & C ATING Companies-2021 Sandeep Bhagat
Managing Director
Manufacturing a Wide Array of Industrial Paints
Editor’s Note TOUCHING LIVES AND BRIGHTENING HOMES WITH SHADES OF EXCELLENCE
E
very individual wants to design and decorate their dream home with the most vivid coats of paint. They want their homes to look gorgeous and attractive, while also being free from chemical emissions. As such, they are in the lookout for efficient paint and coating companies, which would deliver excellent services and lasting comfort and experiences. To satisfy this requirement of the customers, step in the renowned paints and coating companies. They focus on attaining excellence in every task they take up, while ensuring the safety of their clients and all the employees. With an eye on the future, these top paints and coating companies employ cutting-edge technologies to create the finest products. The prime emphasis of these companies is to deliver the ultimate comfort to the customers. Accordingly, they always use environment-friendly components in their products, which also do not emit harmful fumes. This, in turn, ensures that the customers are free from any problems related to fume emission and so on. Driven by the zeal to provide clients with beautifully crafted products, these leaders of the paint and
Ananda Kamal Das
ananda@insightssuccess.com
coating industry always innovate and introduce advanced products. This, in turn, attracts the attention of the customers, and they keep coming back for more.
customers with the scope to provide feedback about the products. These companies are always open for suggestions so that they can rectify their shortcomings and come up with new and improved products.
These companies always put their clients first, listen to their needs, and are passionate about delivering the best. They are passionate about their products and never compromise on their quality. The noteworthy names in the paint industry consider their clients as their family and help them in shaping their dream home.
These prominent companies are future focused, and as such, always come up with strategies that would help them to steer confidently towards a promising future. They do not shy away from challenges and try to make a difference in the industry with their focused endeavours.
Strong believers in teamwork, these companies motivate all the employees to work as one cohesive unit. They train all the subordinates to give their very best and to keep the customers happy. Accordingly, each team member works with total dedication to fulfil all the requirements of the customers and to retain them efficiently. Major players of their domain, these dominant companies believe that effective communication is the key to success. With this perspective, they maintain smooth communication with all the employees and between every department. They also provide the
Hence, in this issue, India's Most Admired Paints and Coating Companies 2021, we present to you some of the most celebrated paints and coating companies, which transforming the industry with innovation, excellence, and dedication. Hence, to know more about these excellent companies, read away!
18 British Paints India
Offering a Wide Palette of Decorative and Generic Industrial Paints and Coatings
24 Grand Polycoats
14
Industry Scenario
Scope of Paints & Coating Industry in India
A R T I C L E S
High-Performance Protective Paints & Coatings
22
Aesthetics and Designs
The Psychological Effects of Aesthetics in Commercial Spaces
S t o r y C o v e r
C O N T E N T S
08
Manufacturing a Wide Array of Industrial Paints
Editor-in-Chief Sumita Sarkar Deputy Editor Abhishaj Sajeev
sales@insightssuccess.com
Managing Editor Sayali Sangewar
AUGUST, 2021
Assisting Editor Ananda Kamal Das
Corporate Offices: Chief Designer Priyanka Rajage Designing Head Vishal Pawar Co-designer Rashmi Singh
Operations Head Megha Mishra
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Technical Head Aditya Kothare
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Company Name
Featuring
Brief
Advance Paints Pvt. Ltd.
Ravi Jagannathan General Manager
Advance Paints Pvt Ltd commences operations with manufacture of General Purpose Paints and Synthetic Enamels.
Alfa Paints & Allied Products
Sandeep Bhagat Managing Director
Alfa Paints & Allied Products are engaged in processing and manufacturing a wide array of industrial paints and primer for its clients.
British Paints India Ltd.
Mr. Yogesh Bhatia COO
British Paints endeavours to serve its customers with top of the line coating solutions, backed by committed teams of professionals across all functions.
Monarch Coating Pvt. Ltd.
Ashwin Dedhia MD
Established in the year 1996, Monarch Coating Pvt. Ltd. take immense pleasure in introducing itself as the leading coating manufacturer, supplier, and service provider in India and abroad.
Grand Polycoats Company Pvt. Ltd.
Bharat Chokshi Chairman and Managing Director
Grand Polycoats is among the leading industrial paint manufacturers in India that specializes in High-Performance Protective Paints and Coatings.
Scope of
a nts
Coating Industry in India
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T
he Indian paint industry has been around for almost a century. It all started with the establishment of a plant by Shalimar Paints in Calcutta (now Kolkata) in 1902. Small producers and two foreign corporations dominated the business until World War II. The domestic paint business is projected to be worth Rs 500 billion, with decorative paint accounting for about 75% of the market.
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The decorative paint market is divided into several categories based on the nature of the surface, such as external wall paints, interior wall paints, wood finishes, enamels, and supplementary items such as primers, putties, and so on. Asian Paints and Berger Paints are the two biggest companies in the Indian decorative paint market, with the category accounting for more than 80% of their total revenue. The automotive industry is crucial to the growth of the industrial paint segment. The automotive industry has been the largest consumer of industrial paints, accounting for 40-50 percent of total demand. Kansai Nerolac is the market leader in industrial paints, accounting for 45 percent of the company's total revenue. Small, unorganised paint manufacturers that cater mostly to the lower end of the pricing spectrum nevertheless hold a 30-35 percent share of the entire paint market. The paints industry uses about 300 basic ingredients in its manufacturing process (50 percent of which are crudebased derivatives). The sector benefits from lower crude prices because most of the raw ingredients are petroleumbased. The key forces driving the growth of the organised paint industry include an increase in average middleclass disposable income, urbanisation, a larger rural market, a shorter repainting cycle, and an increase in sales of premium-end products. Researching the Paints’ Sector Supply: In both the decorative and industrial paints areas, the supply surpasses the demand. Demand: In FY19, India's per capita paint usage was 4.1 kilogram. Despite the enormous scale of the market, India's per capita consumption of paints is considerably behind the global average of 13-15 kg per capita.
As a result, the domestic market has a lot of space to grow in the long run. Barriers to entry: High because the brand, distribution network, and technology are all important. Bargaining power of suppliers: Because petroleum-based derivatives and particular solvents are key raw material inputs, the cost is high. Crude prices are determined by global demand-supply dynamics, whereas Titanium Oxide is in short supply.
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Competition: High. Because there are so many competitors in the organised market, there is fierce competition. Threat of Substitutes: Low to Medium Intensity Limestone's application as a replacement is restricted to rural areas. There is no practical substitute for paint in urban marketplaces. Wallpaper isn't particularly popular. Prospects • On the strength of solid expansion in the Indian economy, the Indian paints sector is predicted to rise steadily in the near and medium term. During the forecast period of 2019–2024, the Indian paints and coatings market is estimated to grow at a CAGR of 8.6%. • With a fast-growing middle class and overall population, India's young population poses a big opportunity. The Indian middle class is predicted to account for 17 percent of global consumption by 2030, thus driving demand for the paint sector. • Smaller cities and towns have been rising at a quicker rate than metro and tier I cities in recent years. The paint industry's expansion in these areas will be fueled in the future by an increase in disposable income, incremental consumption expenditure, and the development of rural markets.
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The paints sector will benefit from increased demand from the construction industry, as well as increased infrastructure activity. On the back of the government's affordable housing initiatives, the decorative paints category is predicted to rise at a faster rate. The government's emphasis on infrastructure development will also help to support the market for industrial coatings. The Indian government's Make in India project intends to raise the manufacturing sector's contribution of GDP from 16 percent to 25 percent by 2022, from its current level of 16 percent. By 2025, the manufacturing industry has the potential to exceed $1 trillion in revenue. These variables are projected to enhance industrial paint use dramatically. In recent years, several paint companies have entered the waterproofing and construction chemicals market. In comparison to China's US$ 22 billion waterproofing business, India's market is relatively underutilised at US$ 0.7 billion. As a result, there is plenty of possibility for growth in this sector over the next 15-20 years. Along with construction chemicals, paint companies have joined the adhesives sector in recent years, potentially allowing them to access huge B2B and B2C channels while also using their existing distribution network. Some paint producers, who have hitherto been minor players in the adhesives and sealants business, seek to increase their market share in the coming years, thereby intensifying competition.
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Mr. Yogesh Bhatia (COO) AUGUST 2021 | 18 | www.insightssuccess.in
India's Most Admired Paints & Coating Companies-2021
British Paints india I
Offering a Wide Palette of Decorative and Generic Industrial Paints and Coatings
n recent times, growth in India’s paint sector has been an outlier in the overall domestic consumer space. The industry has been witnessing a gradual shift in terms of consumer preferences from the traditional whitewash to better quality paints. Besides, it is also witnessing healthy competitive environment, where players are applying different strategies to tap the growing demand in the market for a larger regional share. Additionally, rise in disposable income of the average middle class, urbanization, growing rural market, shortening of repainting cycle, upgradation, increase in sale of premium-end products and launch of many innovative products are the major drivers that are pushing the growth of the organized paint industry.
British Paints brings with it the proud legacy of 100+ years in Industrial and Architectural coatings with 1000+ appealing shades to match every space, mood, and taste. British Paints is headquartered in Delhi and has been serving varied project verticals that include both the Industrial and Retail sectors. With 56+ branch offices and 12,000+ channel partners spread over the length and breadth of the country, the wide palette of Decorative and Generic Industrial Paints and Coatings are what makes British Paints people’s choice. The dedicated manufacturing units are located in Uttar Pradesh, Jammu & Kashmir, Andhra Pradesh, and Assam which also strengthen the pan India reach and functioning. The wide range of products gives 360-degree solutions to interiors and exteriors of homes along with enamels. The waterproofing, wall putty, distemper, primers range, etc. makes British Paints a one-stop solution. Backed by a dedicated team of professionals with rich and valued experience, British Paints brings its customers, top-notch coating and décor solutions. Various campaigns by the company touch the hearts of the masses and make the vibrant colors of their homes with the tune of happiness as they say ‘Rang Gungunaye’. It captures the intuitive happiness of a home that buzzes around with all the emotions inside it while creating happy memories to nurture for a lifetime. Read along to learn more about British Paints and its place in the Indian Paint Industry.
Mentioned below are the highlights of the interview: Brief us about Mr Yogesh Bhatia and shed some light on his professional tenure. Mr. Yogesh Bhatia holds a vast experience of 26 years in the field of Sales and Marketing. His journey started with Sales in Crompton Greaves from the year 1995-1998. Presently, he is working with British Paints (A division of Berger Paints India Limited) & handling both Decorative & Industrial domains as a Chief Operating Officer (COO). It's been a remarkable journey of almost 15 years with the brand & he aims to take the brand to the next level amid various competitive challenges. What made you venture into the Paint and Coating Space? Coming from a background of working in the Electronic/Consumer goods and Sanitary ware industry (from 2011-18) and then venturing into the paints and coatings segment, I have always felt that the paint market has been dynamic on a day-to-day basis. The challenges faced on the customer front, the quick reflexes, or one-can say actions that happen here require one to keep themselves self-attaining to adapt to the complex situations. And this environment helps one to become a dynamic individual while contributing to overall growth and development. What kind of offerings do you provide to your clients? We serve our customers with a diverse range of warranted Decorative and Industrial coatings. Our All-Rounder Range gives all-round protection to both interiors and exteriors, which makes it pocket-friendly with a whole range of advantages such as Bacterial and Virus resistance, Color retention properties, Hi-Sheen, Silicon Protection, etc. Our Interiors and Exteriors range includes smart range like Splendor Luxury Emulsion, Glamour Anti Stain, Glamour Advanced Premium Acrylic Emulsion that provides Silklike Sheen, Shingar All Rounder which is suitable for
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Our latest addition in Exterior Emulsions i.e., Expa Floor Coat is designed specifically for application on Exterior Floor Tiles. It is reinforced with Special Silicone Emulsion to offer outstanding Water Resistance, Scrub Resistance with Enhanced adhesion over Terrace Floor Tiles, Cement Tiles, or any other plain cement surfaces. Our Expa and Shingar series in the Exteriors range is equally fascinating and comes with various unique and beneficial features. Apart from this we also offer Enamels Range, Distempers, Wall & Metal Primers, Putty, Wood Finishes, Water Proofing, etc. We provide expert solutions to satisfy our customers and keep them happy in long run by ensuring the best quality products and services. What kind of challenges have you faced while entering the paint and coating? Life is nothing without challenges & just like any other industry, the Paints & Coatings segment is also not an exception. The very first challenge that one will have to overcome and win over is to attain market intelligence. It is of utmost priority and importance. The ever-changing and developing competition keeps one on their toes at all times be it product innovation, revising pricing strategies, or even distribution. Another challenge that comes with the distribution front is to gain and hold on to your customers who are always being lured by the competitors. To survive and excel one needs to keep rebooting and expanding knowledge to be an All-Rounder themselves. Where do you envision your company to be in the long run and what are your future goals? How do you plan to embrace the changes happening in your industry?
turn of events on that front be it product innovation or increasing reach or penetration of the products, we would stand tall and continue our legacy of 100+ years to add happy colors to everyone's life. What is the current industrial scenario of the Indian Paint and Coating space? Like every business, the Indian Paint and Coating space was also hit by the effects of the pandemic, but the market curve is bound to rise from here on. People are back in the market space with the ‘revenge shopping’ psychology to make up for the missed opportunities. This is giving birth to a huge market rise and we are getting geared up to make the most of it. Undoubtedly there is plenty of headroom in tier II, III, and IV towns, as a result, they are growing at a faster clip for the paint markers. We are looking forward to and hoping for the best in the coming years.
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Life is nothing
without challenges.
The ever-changing and developing
competition keeps
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exterior & interior with 3 Years of warranty, British Advanced Emulsion that provides rose fragrance and keeps the interiors refreshing & many others.
one on their toes
With a vision to be a customer-friendly brand with products that give satisfactory at affordable prices, my future goal for British Paints is to expand our distribution level to make our diverse products reach our customers at a faster rate and efficiently to provide them a 360-degree solution for all their woes. We look forward to catering to the changing needs of our customers with our innovative products and be cautious about going green to be an environment and ecofriendly paints brand. We are also aiming to inculcate antiviral and anti-bacterial coatings to be a healthy choice for our end users and protect them in the long run. Moreover, the changes are inevitable, paints industry has seen a major
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at all times
The
of
in
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S
tudying the psychology of art and aesthetics helps in gathering better knowledge about the perception and experience of the visual arts, music, film, literature, design, environment, and so on. Art is a human form. Accordingly, aesthetics is also fundamentally a psychological process. It is entirely personal how we perceive different things. Human psychology is very intricate and depends on various factors such as the person’s mood, their mindset, their perceptions, and so on. Keeping this in mind, let us explore different forms of psychology related to aesthetics: Colour Psychology Colours act as powerful force in our lives. It has various effects on our bodies and minds. Perception of different colours may be subjective; however, some colour effects bring a universal meaning. Colours in the red colour spectrum are known as warm colours. These include red, orange, and yellow colours. These are warm colours which evoke a variety of emotions ranging from feelings of warmth and comfort to feelings of anger and hostility. On the other hand, colours in the blue spectrum are known as cool colours, which include blue, purple, and green. These colours bring out different emotions such as calmness but can also include the feelings of sadness or indifference. Colorology is a holistic and alternate form of treatment, in which colours are used for treatment purposes: • •
Red colour helps in stimulating the body and mind to increase circulation. Yellow is used to stimulate the nerves and purify the body.
• • •
Orange can assist in healing the lungs and in increasing energy levels. Blue is used to soothe illnesses and treat pain. Indio shades can help in alleviating skin problems.
Colour psychology also plays an important part in branding and marketing. Using the right colour can help any brand to show off its ‘personality’ and make the right impact on the target audience. Colours help in branding and marketing because they have a direct impact on the customers. They also help in creating a good identity for a company. Colours are not only a type of visual aid, but are also used in conveying emotions, feelings, and experiences. Psychology in Design Before designing any structure, architects or designers always focus on the psychological principles of human behaviour, aspirations, and motivations. If a designer applies psychology in the creative process of constructing any structure, it gives them a clear idea of the target audience. Accordingly, they focus hard and deliver better and impactful end products. For any product to be a success among the customers, companies should make sure that the design should be simple and not too complex, so that it does not distract or confuse the audience. The design should be able to convey the desired message of the company. Similarly, if the design of any commercial space is simple and is devoid of too many complexities, it attracts the audience and keeps them hooked to the details. Efficient interior designs are also essentials to attract the
attention of the customer or other audience. To ensure impactful designs at workplaces, companies should understand that with too many complexities, there will be an increase in the cognitive load for the users. It is essential to keep things simple so that the audience is satisfied. Font Psychology Typography and font size play an important role in influencing the audience or reader’s decision subconsciously. An excellent typeface can create a solid visual hierarchy, compliment the graphical balance, and act as the centrepiece of the design. A dedicated typography strategy can help in creating unique branding and in empowering user experience. It can also influence people through emotion and direct attention. Therefore, using supportive fonts throughout a workspace can help in successfully telling a story (through notices on walls, instruction, and so on). Adequate font styles and sizes can help companies to effectively share the information. They can also help in directing attention, guide the audience with efficiency, and help in structuring the information properly. The primary objective of any commercial space is to attract the audience’s attention and to keep them hooked to their establishment be it a website, a company, or an office. Human psychology plays an important part how an individual perceives things. Keeping in mind the various aesthetics mentioned above, commercial spaces can utilize them to achieve better outcomes.
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- Ananda Kamal Das
Grand Polycoats High-Performance Protective Paints & Coatings
T
he objective of a coating is to provide a film that will give protection and decoration to the surface being painted. The success of any paint application is governed by not only the product quality, but also on parameters such as surface preparation, method of application, film thickness applied and environmental conditions at the time of application. There are two main factors that regulate the performance of a protective paint system, mainly the nature of the coating and the degree of surface preparation. The optimum performance of any coating is directly dependent upon the correct and thorough preparation of the surface prior to coating. The most expensive and technologically advanced coating system will fail if the surface pre-treatment is incorrect or incomplete. Hence, it is of vital importance that all parameters are taken into account in designing a product to ensure zero to minimum failures. Grand Polycoats is one such manufacturer of exclusive, high performance, specialty coatings, based on Polyurethane, Epoxy and Special Polymers’ chemistries. From its humble origin, the company has grown into a prospective giant. Read along to know more about how Grand Polycoats has risen to become one of the leading industrial paint manufacturers in India. Mentioned below are the highlights of the interview. Describe about your company in detail. Grand Polycoats’ story began in 1981 when we first introduced high performance polyurethane coatings into the industrial paints and coatings space that had never seen this technology before. Fast-forwarding to today, we are a leading manufacturer, exporter, supplier and service provider of industrial paints and coatings with a customer base of over 1700 strong. Our mission is to bring Perfection in Protection as we prioritize developing customized solutions to protect our customer’s assets. We serve a variety of industries such as Agriculture, Automotive, Construction, Defense, Power & Electrical, Railways, etc. with our range of technologies including
traditional and high-performance Polyurethane Coatings, specialized Epoxy Coatings for high chemical resistance, highly flexible Elastomeric Polyurethane Coatings, very quick drying Polyurea Coatings, a variety of Floor Coatings and Special Polymer Coatings for very specific applications. Our company was built on a single mantra, Profit, Growth and Happiness. We believe these are the key attributes in building a long term and sustainable business. Over the years, with a mix of cultures, values, from our team members, the GP Family continues to hold on to this mantra as we stride ahead in our field. Brief us about Mr Bharat Chokshi and shed some light on his professional tenure. The company was founded by Mr. Bharat Chokshi, Chairman and Managing Director. With no prior background, he started the business by formulating paint in the kitchen of his home determined to make coatings that competed with the best in the world. He started by approaching large plants such as GACL, then IPCL and IFFCO Kandla, which faced major problems due to corrosion. Working in tandem with contractors, he convinced these large corporations to use high quality and more expensive two component polyurethane paints instead of the traditional oil-based enamel paints. Later, he forayed into the OEM (Original Equipment Manufacturer) space as manufacturing ramped up in India. This led to a major growth trajectory in the story of Grand Polycoats. Today, Mr. Bharat Chokshi, along with his son, Mr. Ankur Chokshi, lead the company from the forefront into a variety of new segments such as oil and gas, powder coating, and retailing. What made you venture into the Paint and Coating Space? I saw a huge opportunity in this space. India was still an underdeveloped economy back in 1981 and having traveled to other parts of the world, I could envision the potential of this industry as our country would develop over the years. I had no prior knowledge of this industry, but with a degree
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India's Most Admired Paints & Coating Companies-2021
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Having a positive, highly charged and motivated team can help a company get through any challenge in chemistry, I was always intrigued in working with various chemicals to solve problems. I saw huge potential in this industry, so I started working in that direction without ever looking back. What kind of offerings do you provide to your clients? We pride ourselves in providing a customized high performance coating solution. These solutions help solve a variety of problems but can largely be grouped as providing protection along with aesthetic appeal. The coating industry is a highly technical industry where each client has different specifications based on their application. Some may be painting a steel pipe, whereas others could be painting a small component part of a larger auto assembly. For this very reason, it is very important to customize and innovate to always provide the client with the most efficient product while still surpassing their performance requirement. Our product offering ranges from highly chemical resistant epoxy coatings to highly durable fluorocarbon-based coatings that provide a life in excess of 25 years. We offer the full range of paints and coatings that are required for solving the client’s problem. What kind of challenges have you faced while entering the paint and coating? As with all things in life, challenges have always been persistent, but it is with the motivation of our team that we have gotten through all of these challenges. Different times called for different challenges. In the very inception of the company, challenges faced were more towards sales and winning people’s trust so they would give you an opportunity to serve them with your products. This was especially challenging because I had no track record to boast of, but with time and lots of hard work, consistently solving their problems, I was able to gain their trust and build a sustainable business with our clients. Today, especially now, supply chain is one of our biggest
Mr. Bharat Chokshi Chairman and Managing Director challenge. The COVID-19 pandemic coupled with many other issues has completely disrupted the world’s supply chain and hence made raw material availability a big problem. Our team at GP though, has been doing a fantastic job at managing this crisis and ensuring excellent customer service. Where do you envision your company to be in the long run and what are your future goals? How do you plan to embrace the changes happening in your industry? Grand Polycoats is currently seen to be a partner of choice by Indian engineering equipment manufacture Entity and we would further like to consolidate this position in the broader market. We aspire to become a highly integrated player in the paints and coating space by becoming selfsustaining wherever possible and are very focused on doing so. From a market approach standpoint, GP will be expanding its footprint and will strengthen its position in the industries we already play in. We have already forayed into a variety of new segments such as powder coatings and retail business, so in the medium to long term we will be consolidating our position in these markets as well as integrate by working with our other business units. As far as embracing changes is concerned, Grand Polycoats has always been a trend-setter and not a trend-follower. In 1981, we pioneered the use of Polyurethane coatings for
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protecting our fertilizers and chemical plants and changed the way in which the assets were protected. Again in 1998, we introduced high-performance coatings to the engineering equipment manufacturers and redefined the market space. We were also the first to introduce Polyurea coatings for water tunnels to protect the concrete walls from the abrasion of the extreme velocity of water containing high levels of silt. The last example I would like to quote is the way in which GP had developed a special coating for India’s space program in only six months, making us only the third manufacturer in the world to produce that coating. Thus, it is this pioneering spirit of Grand Polycoats that differentiates us from the rest of the industry and allows us to push far above our weight in the industry. We have always been a technology driven company, both, in terms of technologically superior product offerings and in terms of accepting and embracing the shift in the times of technology. This has always enabled us to ride the wave of change without many hurdles. Last, but surely not the least, having a positive, highly charged, and motivated team, can help a company get through any challenge. What is the current industrial scenario of the Indian Paint and Coating space? As I mentioned earlier, the COVID-19 pandemic has brought upon quite a lot of changes to the landscape of Indian paint and coating space and will continue to do so at least till the end of this year. The disruption of the world’s supply chain has had many rippling effects across our industry especially here in India. India has always been a low-cost producer/provider of many products/services and with low costs come even lower input costs. Due to this, many global players have decided to restrict the allocation to India and jacking up the prices. This has led to a death trap of high input costs, but only a marginal increase in the pricing. This landscape is highly tricky to maneuver through especially for smaller manufacturers who do not have a wide customer base. We hope and wish these changes soon though, as things settle down. India should also look to shed the image of being a low-cost producer of goods and services not only to raise the per capita income, but also to rise in the ranks of a highly competent nation that delivers high quality products. For this, everyone in the value chain needs to recognize that paying for performance build a healthy ecosystem in the long run.
How Technology has Helped the Paint and Coating Space Worldwide? Paint and coating technology is always driven by the customer’s need, change in the aspirations of end users, economy, ecology, regulations, etc. Hence, paint technology has undergone constant innovation to meet these challenges. India loses approximately Rs 10,000 crores every year due to the corrosion and corrosion related problems faced by many industries. That is when coating formulators like us, have to work continuously to innovate and come up with newer and better technologies to reduce those losses. Recently, when the world experienced COVID-19 and its devastating effect, besides medical science, coating technology also chipped in by developing a product that protects surfaces from viruses for up to 90 days. Similarly, as industrial activities increased, users wanted to reduce cost and time of application. This led to the birth of technologies such as mastic coatings that require lesser surface preparation, and unicoat products, which combined the performance of two coats into a single layer of coating. The concept of smart cities and the push towards better quality of construction lead to the development of super durable product for preserving the aesthetic for a longer duration of time. This included technologies such as PTFE or fluorocarbon technology, anti-graffiti coatings, selfhealing coatings and many more such technologies. Another example being due to the change in environmental norms and in trying to make our environment greener, some hazardous chemicals such as lead, chrome, silica, asbestos, etc., were banned. This led to the development of alternate coatings that were lead and chrome free, heavy metal free and RoHS compliant. The biggest example of innovation due to environmental norms is the change from solventbased coatings to water-based coatings with equal or even superior performance. Work is currently under progress on many new technologies such as nano technology products offering extremely superior properties, self-detectable coating, self-healing anti corrosive coating, colour changing coatings, etc. So, as a result, technology has and will continue to be at the core of the coating industry. It keeps pushing the limits of technology to answer to any challenges or demands or aspirations of the end users.
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