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Acrylates will be more in demand for water-based decorative paint applications in the forthcoming years.

At its discussion on January 6, 2023, the Board of Asian Paints gave their approval for the construction of a new water-based paint manufacturing facility with a capacity of 4 lakh kiloliters per year and an estimated investment of R5. 2,000 crore.

After acquiring the necessary site, the facility's manufacturing is anticipated to begin operation in three years.

The company is looking into the feasibility of making this investment and establishing the manufacturing plant in the state of Madhya Pradesh, subject to the government of Madhya Pradesh providing the necessary incentives and receiving all necessary permits and certifications.

The purposed manufacturing facility would be used by the company to make paints and intermediates in an environmentally friendly manner.

Grasim Industries Ltd., the holding company of the Aditya Birla Group, which is celebrating its 75th anniversary, has disclosed a CAPEX of 76,720 crores for FY 2023, including 73,542 crores for the paints division.

In order to achieve the timeframes for plant commissioning, the paints industry is focusing on project execution. The corporation has secured land ownership at each of its six locations.

Civil construction of paints has begun at four of its locations: Panipat, Ludhiana, Cheyyar, and Chamarajanagar. When the required legislative permits are secured, work will start at the remaining locations.

The entire capital expenditures for the paints company up till June 30, 2022, were 7825 crores. New capacities of 471 MW are scheduled to come operational in FY23.

In a B2B e-commerce platform for the building materials sector, the company has said that it will invest close to 2,000 crores over the next five years. The platform will primarily target MSMEs in the building materials industry, with the potential to grow to other relevant industries.

The major selling point would be an integrated procurement solution with timely delivery and an excellent product range at competitive rates.

Caustic soda's average price increased to USD 769/MT globally in the first quarter of FY23 from $719/MT in the fourth quarter of FY22 due to factors such as supply chain disruption and rising energy costs. The prices started to drop at the end of June and are now roughly USD 650/MT. As production of water treatment and sanitation goods increased during the quarter, so did captive chlorine usage.

As per Procurement Resource, the article inculcated that acrylates would become more popular in the coming year 2023 for applications involving water-based decorative paint. Butyl acetate prices decreased in the Asian market, with prices averaging USD 1725/tonne. According to dealers, there has been a negative trend in the Chinese market, and despite the ongoing disruption caused by the pandemic and the debt-ridden construction industry, consumer attitude has remained subdued.
 
China's economy saw a sharp fall during this time, which added to worries about global inflation. However, the downstream paints and coatings industry's decreased demand caused the price of butyl acetate to trend lower.

Few providers, however, cited a combination of increased material accessibility and a pessimistic prognosis for the product. Although in Europe, the demand for the product fell because availability remained stable, consumer sentiments in the downstream paints and coating business were dampened by the mounting European recession.