Page 65 - CV June-July 2023 Issue
P. 65

NIPPON PAINT




                                                                          TO TAP



                                                                          CONSTRUCTION




                                                                          CHEMICALS



                                                                          MARKET








                                                                         Paint  manufacturer  Nippon  Paint
                                                                         (India) Pvt Ltd would foray into the
                                                                         Rs  12,500  crore  construction
                                                                         chemicals  market  as  it  eyes  to
                                                                         expand  the  product  portfolio,  the
                                                                         company said on Saturday. With its
                                                                         entr y  into  the  construction
                                                                         chemicals  division  apart  from  the

                                                                         current paint and coatings product
                                                                         range,  Nippon  Paint  would  offer
                                                                         products  and  solutions  under  dry
                                                                         mix,  repair  and  maintenance,
                                                                         construction  chemicals  and
                                                                         waterproo ing categories.



               he products to be launched (in construction chemicals) would   and volume-based products would be manufactured by strategic
               be focused on three segments -- during construction, post   manufacturing partners.
         Tconstruction and taking up repair and maintenance. With this   "We are happy to expand into the construction chemical solutions
         expansion, Nippon Paint said it also has plans to increase the dealer   market. Pegged at being an Rs 12,500 crore market, this segment
         touch points by 50 per cent. Attributing to the increase in residential   provides ample opportunities for growth and innovation," Nippon
         and commercial building constructions for its foray into the   Paint (Decorative) President Mahesh Anand said. "With Nippon's
         construction chemicals division, Nippon Paint said the growing trend   strong presence, market know-how and distribu on strength, we are
         of urbanisation was expected to drive this category.    positioned perfectly to ace this segment," he said.

         "Through this expansion strategy, Nippon Paint will make its products   Housing sales in India in 2021 increased by more than 51 per cent as
         available across segments," the company said. Nippon Paint said   compared to 2020. Though awareness levels were low, research
         liquid based products would be manufactured at its Chennai unit while   reports project a compounded annual growth rate (CAGR) of over
         aerosol-based products would be supplied by acquired companies   10.4 per cent in the next three years, the company said.



















         CONSTRUCTION VISION                                                                                63                                                                                          JUNE-JULY 2023
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