Paint Prices Set to Rise in India Amid Crude Oil Surge Due to Iran-US Conflict
Leading paint companies in India plan price hikes as crude oil prices rise בעקבות Iran-US tensions and supply disruptions.
Prasanth Subramani
Rising crude oil prices triggered by escalating tensions between Iran and the United States are set to impact the paint industry in India, with leading companies preparing to increase prices. The disruption in global oil supply, particularly after the closure of the Strait of Hormuz, has led to fuel shortages and increased raw material costs across multiple sectors.
India, which depends significantly on imported crude oil, has been affected by the price surge, forcing manufacturers to revise pricing strategies. Following a 6% to 10% rise in costs after the Middle East conflict, paint companies have begun announcing price hikes to offset rising input expenses.
Asian Paints, the country’s largest paint manufacturer, has announced a price increase of 3% to 5% effective from May 5, citing raw material shortages and rising costs. Birla Opus has also declared a sharper increase of 8% to 10%, after previously raising prices by 2% to 4% in January.
Other major players such as Berger Paints, Kansai Nerolac, Indigo Paints, and JSW Paints had already implemented price hikes of 6% to 8% in multiple phases during March and April.
Market sources suggest that further increases of 6% to 8% could be announced soon, with crude oil prices currently hovering around $90 per barrel and expected to rise by up to 20% by early 2027. Industry insiders indicate that additional price hikes of 5% to 7% may also be necessary to balance production costs and maintain supply stability.
