The louvers market is witnessing a significant change in product offerings that is causing the prices to go down. Although being a new product in the Indian market, it is still the fastest growing and has a considerably good demand among decorative panels or interior wall cladding solutions. When the product was introduced in the market in 2019, its sizes were normally available in 8 feet by 5 inches with a uniform thickness of 12 mm, but with time, as the product's offering increased in the market, the sizes changed to 8 ft, 9 ft height and 5 inches to 12 inches width.
Initially, the product was available in 12 mm thicknesses but now it has reduced to 10 mm in some brands. With rising competition, the product is witnessing a thickness reduction and a similar reduction has been observed in its weight as well. The market sources said that the new practices are being observed to attract customers due to rising competition, and as with thickness and weight reduction, the prices are also going down.
The traders claim that the thickness and weight reduction haven't adversely affected their sales; in fact, with the price down, the customers are happy, as with it, their project cost has come down correspondingly. The newly introduced 12 mm louvers have also seen a significant reduction in thicknesses. The retailers indicate that due to competition, there is a price decline of nearly 15% in all segments, and to match that price, the manufacturers are compromising on thickness and weight.
Although, in two years in this segment, lots of innovations have been done, the product's growth is faster than that of other interior decorative solutions. The product was initially popular in metros and big cities, but slowly it has reached tier two and three cities and is getting a very good response everywhere. In this segment, there are over 100 catalogues in the market and over a dozen domestic manufacturers in Gujarat and north India. A large quantity is also being imported from Korea and China. The imported product market share is high due to frequent innovations and new offerings on a regular basis in terms of colors and designs.