Most of the paint companies in India have taken a massive transition from the solvent-based paint to water-based paints for much better performance. Because of the much-increased input cost of crude oil in the last few years, it has taken the massive plunge in their gross margins in the past few years. Nearly more than 55% of raw materials used by most of the paint companies and the crude oil derivatives and account for nearly 30-35% of the total raw material cost of the sector produced. In the past few months, prices of crude oil have a huge plunge by approximately e than 40%. Not only that, the cost of various pigments like titanium dioxide, iron oxide, and zinc oxide also remain elevated for the mentioned reason. So, considering the cost pinch of the process, there’s an elevating graph to use water-based paints, just because water-based paint is much less sensitive to movement in current crude oil prices. As the phrase suggests, for the water-based paints, the binding molecule is a water-based compound.