AkzoNobel, the maker of Dulux paints, is aiming a double digit growth in India, said Oscar Wezenbeek, managing director, decorative paints South East and South Asia (SESA).
In a chat with Moneycontrol, Wezenbeek said the company's focus has been on bringing premium paints to the Indian market.
Currently, decorative paints constitutes 60 percent of company’s revenue, which account for around 80 percent of the overall paint market in India.
Asian Paints is the market leader in this segment, followed by Berger Paints. AkzoNobel currently has 7 to 9 percent market share.
Commenting on the Indian market, Rajiv Rajgopal, managing director of AkzoNobel India said that the paint trend in India has been fairly buoyant, and the focus will continue to remain on the premium paints portfolio along with innovation and renovation for the brand.
The decorative paint segment is classified into interior paints and exterior or cement paints. Close to 80 percent of the decorative paints account for interior paints, which consists of premium, medium and economy categories.
The premium category consists of plastic emulsions, the medium-priced category consists of synthetic enamels and the economy category consists of distempers.
Headquartered in Netherlands, AkzoNobel, the paints and coatings operates in 80 countries with brands that include Dulux, International, Sikken and Interpon.
AkzoNobel is present in India for over 60 years and has an employee strength of 1,800.
The company on February 28 launched Spiced Honey as the colour of the year 2019 in Mumbai.