Leading Japanese automotive paint supplier Nippon Paint's Indian operation is expanding its business into the Middle East region to tap into a US$ 250 million annual market opportunity. The company aims to scale its business to Rs 100 crore over the next two years.
14 Oct 2023 | 6291 Views | By Mayank Dhingra
Nippon Paint India which clocked Rs 500 crore in revenues in FY23 has expanded its business into the Middle East with a new subsidiary - Nippon Paint Middle East - which serves markets like the UAE, Oman, Qatar, Kuwait, and Bahrain, and aims to be one of the leading aftermarket players in the region.
Sharad Malhotra, President, Automotive Refinishes and Wood Coatings, Nippon Paint India talks about the company's growth plans for the Middle East market, which offers a US$ 250 million annual opportunity. Nippon Paint Middle East will also soon expand its portfolio to offer water-based paint products which are environmentally friendly, and aims to set up local manufacturing as well to cater to the growing demand from the region. Nippon Paint India aims to aggressively grow its Middle East business to touch Rs 100 crore milestone by 2025.