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NEW DELHI: The marketplace for automotive paints had gone down through the interval of Covid lockdowns and restrictions, however has come up strongly as shopping for picked up as business opened up and companies and faculties began coming again to pre-pandemic ranges. Led by the resurgence, the automotive paints business sees a wholesome progress over the approaching years, with a forecast of 30% CAGR between 2021 -2026. TOI speaks to Sharad Malhotra, Automotive Refinishes and Wooden Coatings president at Nippon Paint India. The corporate has additionally launched a brand new pan-India initiative in direction of uplifting, rewarding, and recognizing the storage painter group and establish India’s prime automobile painters.
Excerpts:
How do you see the marketplace for Automotive Paints & Coatings market in India?
Whereas the demand had been suppressed over the previous couple of years, the present yr may be pivotal for India’s automotive paints market when it comes to progress & improvement. With the Covid scenario stabilising, and a build-up of beneficial market situation throughout the automotive sector, the paints market can also be anticipated to witness a good progress. By way of enterprise worth, we count on to hit pre-pandemic ranges quickly. India’s automotive paints market is exhibiting loads of constructive traits attributable to initiatives such because the scrappage coverage and likewise altering market dynamics. The business is estimated to develop at a CAGR of over 30% between 2021 -2026.
What are your views on India’s automotive after-market?
Over the previous couple of years, India’s automotive business has skilled a pointy rise within the sale of second-hand or used autos. The marketplace for used autos is anticipated to take over the motive force’s seat as we transfer forward. As per a latest business estimate, the used automobile market in India is anticipated to succeed in a quantity of 70 lakh models in 2025-26, from 38 lakh models in 2020-21. This sharp progress throughout the used car phase will additional set off the expansion of automotive paints and consumable options.
What are a few of the international traits which have began to make their means into India’s automotive paints and coatings market?
If we discuss concerning the Industrial Automobiles phase, the Indian coating business is kind of forward of many Asian counterparts and is step by step catching up with the European markets as nicely. The newest applied sciences that we now have noticed throughout the market have largely been devoted in direction of greater productiveness options just like the Moist-on-Moist (WoW) methods which might be obtainable in some European markets too. The emergence of recent applied sciences and traits is additional enabling corporations to scale back the processing time, whereas rising the general productiveness. On the merchandise aspect, extra focus is approaching Low VOC or Water-base methods that are extra environmentally pleasant and sustainable for the ecology.
Are you able to share a quick about Nippon’s product portfolio right here in India?
We’ve an in depth and broad portfolio, comprising a number of merchandise and options. Our vary consists of new-age technology-based paint options resembling WoW primers, direct-to-metal (DTM) coatings, quick drying clears, and the scratch-resistant and self-healing CyGlaz protecting end. Our WoW methods supply greater productiveness than standard methods which in flip saves price as nicely improves general productiveness of the end.
Being one of many largest producers of paints and coating options for business autos, what advantages does Nippon supply to the customers?
Our experience in being “Paint Course of Specialists” has enabled us to supply solution-based resolutions to our prospects’ coating dilemmas. With the assistance of know-how and core R&D, our merchandise have been in a position to supply prospects paints and coating options that are extra sturdy and supply a premium high quality end. We additionally supply options which might be past paints and have actively assisted to design portray line/ system in manufacturing workshop.
What are a few of the new-age options launched by Nippon in India?
R&D performs a pivotal position at Nippon Paints. We’ve an unbiased and devoted R&D staff in India and are actually nicely on our means in direction of reaching “Atma Nirbharta”, or self-reliance, with main options being personalized and indigenously developed regionally. Varied paint options such because the stain-free resolution – that restores the unique end in excessive and numerous Indian weather conditions — are a few of the few paint improvements which have been indigenously-developed right here.
What are your views on the PLI scheme and the way essential has this intervention been from the business’s perspective?
Retaining in thoughts the continuing exodus of OEMs from China, the introduction of production-linked incentive (PLI) scheme has been a recreation changer for India’s automotive business. The PLI incentives will assist appeal to a number of OEMs to return and arrange their base right here, turning India right into a hotspot for automotive manufacturing. Owing to the provision of low cost labor, land and investment-friendly insurance policies, the economic phase within the Indian subcontinent is poised to expertise an upswing. We’ve already witnessed a number of corporations shifting their base from China to India, particularly loads of OEMs and electrical car producers. It will have a ripple impact throughout India’s industrial coating market as nicely.
How has the Covid pandemic impacted the automotive refurbishing enterprise in India and what kind of restoration have you ever noticed up to now?
As public transport stopped throughout lockdowns, the manufacturing of faculty and luxurious buses got here to a standstill together with the discount in shopper demand for passenger autos. This had an opposed impact on India’s automotive paints and coatings business. Owing to the Covid-induced lockdowns and challenges, the business noticed its first income de-growth of the last decade. As per estimates, the demand for automotive paints and coating options went down by virtually 50% throughout this era. Nonetheless, within the final quarter of 2021, we noticed varied OEMs and associates getting again with orders with encouraging motion alongside the manufacturing line. Varied state transport departments are additionally in a revival mode, as they launch tenders for brand spanking new buses and upkeep of the prevailing ones.
India’s automotive painters have been amongst those that have been the toughest hit through the pandemic. What are your initiatives to assist them tide over the tough interval?
The pandemic-induced lockdowns have been certainly fairly harsh for the painter group and particularly relating to the automotive refurbishing business. To assist them, we now have launched a novel, pan-India program known as ‘Rangon Ke Badshah’ that goals to uplift, reward, and acknowledge the storage painter group and establish India’s prime automobile painters. We’re connecting over 10,000 automobile painters throughout the nation via a nationwide outreach programme which incorporates abilities contests, loyalty advantages in addition to advantages like unintentional insurance coverage, schooling grants for kids and different rewards.
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