The prices of paints largely depend on cost of raw material. There are around 300 odd raw materials required for the manufacturing of paints. The major raw-materials are titanium dioxide, phthalic anhydride and peutarithrithol. These constitute around 50 percent of total cost. Titanium dioxide alone contributes 30 percent of the cost.

The other raw materials like linseed, castor, soya-bean oils, etc. add up to the whole raw material cost of 70 percent of total cost. So, the prices of paints are very much dependent on raw materials and any fluctuations in the price of raw materials will eat up the margin of the company.

Grace Corporation has been a leading supplier of a wide range of chemicals, industrial systems, machinery and spares in paint industry.