What Indaco does

Indaco Warna Dunia (PT Indaco Warna Dunia), branded as 'Green INDACO PAINTS,' is an Indonesian paint and coatings manufacturer founded in 2005 and headquartered in Karanganyar, Solo. The company designs, produces, and distributes a comprehensive portfolio of water-based, environmentally-friendly coatings organized around two flagship lines — the premium Belazo range and the eco-focused Envi range — with additional offerings spanning automotive refinish (KREANOVA, iCare, iGloss), waterproofing and construction chemicals (MODACON, TOP SEAL, HOT SEAL, REKANA), stone and effect coatings (Belazo Stonagard, Graniteur, Stonaplas, Woodgrano), and ancillary tools and sealants.

The technical platform is centered on green chemistry rather than software: formulations emphasize low toxicity, low VOC, and reduced water/energy consumption, with proprietary BIO ZINC anti-virus and anti-bacterial technology (validated by Universitas Airlangga at 87% SARS-CoV-2 reduction in 60 minutes) layered across all water-based SKUs. Supporting technology assets include Colour Shield UV-resistant pigments with 15-year warranties (Belazo Climagard), heat-reflective coatings reducing surface temperature by up to 7°C (HOT SEAL), and the COLOUR INNOVATION Tinting System offering 100,000 color variants on Belazo Maxima. Multiple stacked certifications — Singapore Green Label, Halal, SNI, SIMPK, and TKDN — underpin both export eligibility and government-procurement access.

Commercially, Indaco generates revenue through one-time product sales across decorative, specialty, and industrial coating categories, distributed through a nationwide network of more than 115 depots spanning Sabang to Merauke, supplemented by independent retail paint stores, an owned e-commerce storefront at indaco.id, and B2B engagement at construction industry exhibitions. Customer segments span residential homeowners, professional painters and contractors, the construction industry, automotive refinish shops, and Halal-conscious consumers, with the annual INDACO Customer Appreciation (ICA) event and Envipedia Champions loyalty program institutionalizing channel relationships. The company operates as a private, founder-led corporation under President Director Iwan Adranacus, with no public listing, no external institutional investment, and no disclosed financials in the source material.

Name

Indaco

Legal name

PT INDACO WARNA DUNIA

Website

https://indaco.id

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

PT Indaco Warna Dunia is an Indonesian paint manufacturer (founded 2005) producing eco-friendly decorative, waterproofing, automotive, and specialty coatings under the Belazo, Envi, KREANOVA, iCare, and MODACON brands, distributed through 115+ depots across Indonesia.

Ownership category

akta.pro rank

Product category

Paint & Coatings Manufacturing

NAICS

Paint and Coating Manufacturing (325510), Paint, Coating, and Adhesive Manufacturing (3255)

SIC

Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851), Adhesives & Sealants (2891)

akta.pro primary industry

Industrial & Protective Coatings (IMAEAGAB)

akta.pro secondary industry

Adhesives & Sealants Chemicals (IMAEABAA)

Keywords

• Architectural paints
• Eco-friendly coatings
• Decorative paints
• Industrial coatings
• Water-based paints

Headquarters

HQ city

Karanganyar

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Technology or R&D, Personnel, Infrastructure

Revenue model

1. Architectural/Decorative Paints: Primary revenue stream from manufacturing and selling a wide range of architectural paints for interior, exterior, wood, and metal applications. Products are sold through a network of depots and retail stores across Indonesia.
2. Industrial and Protective Coatings: Revenue from automotive OEM coatings, protective coatings, and industrial paints under the KREANOVA and iCare brands for vehicle refinishing and industrial applications.
3. Specialty and Construction Coatings: Specialty products including waterproofing (MODACON, TOP SEAL, HOT SEAL), stone coatings (Belazo Stonagard), sports court coatings (Belazo Stonafil), and epoxy floor coatings (Belazo Bepoxy).

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

PT INDACO WARNA DUNIA (Green INDACO PAINTS) manufactures and sells a comprehensive portfolio of eco-friendly paint and coating products in Indonesia. Its offerings span architectural/decorative paints (Belazo and Envi lines), industrial and protective coatings (KREANOVA, iCare), specialty construction coatings (MODACON, TOP SEAL, HOT SEAL, Belazo Stonagard), automotive refinishing products, and supporting tools and sealants (REKANA, NUSATEX). Products are sold under sub-brands such as Belazo (premium), Envi (environmentally-focused), KREANOVA, iGloss, iCare, MODACON, TOP SEAL, REKANA, NUSATEX, and HOT SEAL, distributed via 115+ depots across Indonesia.

Product overview

Indaco Warna Dunia (Green INDACO PAINTS) is an Indonesian paint manufacturer offering a comprehensive portfolio of eco-friendly coating products organized into distinct product lines. The core product family includes Belazo premium paints (Belazo Climagard, Belazo Maxima) and Envi environmentally-focused paints (Envi CAT TEMBOK, Envi CAT INTERIOR, Envi CAT EXTERIOR). The product ecosystem includes: GREEN INTERIOR DECORATIVE (Belazo Maxima, Envi CAT INTERIOR, Envi CAT TEMBOK, Belazo Alkali Sealer, Envi ANTI ALKALI, Envi DEMPUL TEMBOK & KAYU, Envi PEMBERSIH LUMUT & JAMUR, Belazo Kidzdream); GREEN EXTERIOR DECORATIVE (Belazo Climagard, Envi CAT EXTERIOR, Belazo A.G.E MAX, Belazo Climapro 2in1); GREEN ROOF COATING (Belazo Roof Paint, Envi CAT GENTENG, TOP SEAL series, HOT SEAL); GREEN METAL AND PROTECTIVE COATING (Envi CAT KAYU & BESI, NUSATEX, Envi PRIME ECO, Envi CAT DASAR ANTI KARAT, Envi LINE MARKING, Envi XTREM COLOUR, Envi ANTI FOULING, INDACO STOP KARAT, INDACO PAINT REMOVER); GREEN AUTOMOTIVE/OEM (KREANOVA spray paints, iGloss/iCare automotive coatings); GREEN MODERN CONSTRUCTION (Belazo Stonagard, Belazo Stonabid, Belazo Lem Epoxy, MODACON waterproofing/mortar products, TOP SEAL BITUMEN SPRAY); GREEN INNOVATION COATING (Belazo Graniteur, Belazo Stonaplas, Belazo Woodgrano, Belazo A.G.E, Belazo Spray Paint MARBLE EFFECT, Belazo AEROMUSION spray paints, Belazo CERAMIC GLASS SPRAY COAT); GREEN STONE COATING (Belazo Stonagard, Belazo Stonabid); GREEN FOOD CONTACT AND CREATIVE CHILDREN SAFE PAINTS (Belazo Kidzdream, Envi ECO GLOSS, Belazo Woodstain, Belazo Wood Filler, Belazo MATTING LIQUID); TOOLS (INDACO AMPLAS, INDAPLAS, INDACO PAINTS ROLLER, KUAS INDACO); and SEALANT & ADHESIVE (REKANA silicon sealants, Belazo Lem Epoxy). All products feature proprietary BIO ZINC Anti Virus & Bakteri technology for health protection and carry certifications including Singapore Green Label and Halal. The company operates through INDACO INNOVATION CAMPUS and distributes through over 115 depo locations across Indonesia.

Differentiator

Problem solved

Functional benefit

Brands

• Belazo: Premium paint brand featuring products such as Belazo Maxima, Belazo Climagard, Belazo A.G.E, Belazo Woodstain, and Belazo Graniteur.
• Envi
• KREANOVA
• iGloss
• iCare
• MODACON
• TOP SEAL
• REKANA
• NUSATEX

Products and services

• Belazo Climagard Premium 100% acrylic exterior wall paint with Colour Shield Technology and UV Resistant Colour Pigment, providing 15-year climate protection warranty against Indonesia's tropical weather conditions. Target users: homeowners and contractors for exterior wall applications.
• Envi CAT TEMBOK Acrylic Copolymer Emulsion paint for interior and exterior walls, plaster, fiber, and wood surfaces with BIO ZINC Anti Virus & Bakteri technology and Singapore Green Label certification.
• TOP SEAL SATIN Elastomeric acrylic copolymer coating with anti-alkali and waterproof properties, providing elastic, waterproof, and weather-resistant finish on walls, concrete, asbestos, galvanized metal, and zinc surfaces.
• Envi CAT KAYU DAN BESI Synthetic Alkyd Enamel paint for wood, metal, and iron constructions in exterior and interior applications, with fast-dry formula, Halal certification, and Singapore Green Label.
• Belazo Maxima Premium 100% acrylic interior wall paint with optimal coverage, 100,000 colour variants through COLOUR INNOVATION Tinting System, Multi Function Formula, and Lavender scent (mosquito repellent).
• Belazo Roof Paint Specialized roof coating with dual protection: functional waterproofing that fills roof pores and prevents leaks, and aesthetic protection with UV-resistant pigments for long-lasting colours.
• HOT SEAL Full acrylic heat-resistant coating that reduces heat absorption by up to 7°C, provides anti-condensation, sound dampening, and waterproofing for galvanized/zinc roofs, walls, and concrete decks.
• Belazo A.G.E Water-based multi-purpose acrylic gloss enamel for wood, iron, and concrete with bright finish, multi-substrate capability, and colour protection layer without lead, heavy metals, or mercury. Includes BIO ZINC technology.
• Belazo A.G.E MAX Premium exterior paint with maximum acrylic content for extreme weather and climate change resistance. Semi-gloss luxury finish with UV ray and heat resistance.
• Belazo Climapro 2in1 Modified acrylic exterior wall paint functioning as both finish paint and anti-alkali primer in one layer, with elastic film and high alkali resistance. Ideal for new exterior walls.
• Belazo AEROMUSION OPTIMUM Water-based spray paint for various media including canvas, walls, wood, and iron with doff finish, fast-drying, UV-resistant formula, and perfect coverage.
• Belazo AEROMUSION CUSTOM PAINT Water-based aerosol spray paint for multicolour motif painting on exterior and interior walls, eliminating the need for expensive wallpaper.
• Belazo Stonagard Natural stone coating based on Thermoplastic Acrylic providing maximum protection for natural stone while enhancing its beauty, with anti-moss and anti-fungus properties.
• Belazo Stonafil Environmentally friendly sports court coating for concrete floors, asphalt, and paving with flexible, anti-slip film properties.
• Belazo Bepoxy Solvent-free Epoxy Self-Leveling coating resistant to solvents and chemicals for concrete floors, GRC, and wood with self-leveling and high-gloss properties for heavy-duty areas.
• Belazo Graniteur Single-component water-based granite-style special effect paint for adding beauty and artistic value to exterior and interior rooms, available in Single Tone, Multi Tone, and Triple Tone variants.
• Belazo Kidzdream Premium interior wall paint with Stain Proof Anti Graffiti Technology that repels stains from coffee, tea, crayons, sauce, ketchup, mud, and other contaminants. Features Lavender scent and satin finish.
• Belazo Woodstain Single-component water-based wood polish with transparent oxide pigments that coat wood surfaces while preserving natural wood grain beauty, with UV protection and water-repellent properties. Singapore Green Label and Halal certified.
• MODACON 300 Mortar Serbaguna MSG 4 in 1 Universal mortar serving as plaster, acian, mortar repair, and decorative coating in a single product for modern construction applications.
• iCare 2K EPOXY SURFACER + ANTI CORROSIVE 2-component Epoxy with special formula functioning as anti-rust primer and surfacer with perfect adhesion and smooth layer results for industrial and automotive needs.
• iGloss 2K EPOXY SOLVENT

Quantifiable outcome

• 87% reduction in SARS-CoV-2 infection on surfaces treated with Belazo A.G.E paint after 60 minutes of exposure (validated by Universitas Airlangga, Report No.029/LPT-SP/IV/2022)
• +3 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Universitas Airlangga (Tropical Disease Diagnostic Center)coreStrategic or Co-development Partner · 1 April 2022Academic research partnership for validation of the proprietary BIO ZINC anti-virus and anti-bacterial technology. Universitas Airlangga conducted anti-SARS-CoV-2 testing (Report No.029/LPT-SP/IV/2022) on Belazo A.G.E, Envi Cat Tembok, and blank paint samples, demonstrating 87% reduction in viral infection after 60 minutes of exposure to Belazo A.G.E.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Propan Raya: Indonesian paint and coatings manufacturer producing decorative, industrial, marine, and wood finishes under the Propan and Decolith brands, competing with Indaco across multiple Indonesian coating segments.
• Avian Brands: Indonesian paint manufacturer and one of Indaco's closest domestic competitors, producing architectural, industrial, and automotive coatings under brands like Avian, No Drop, and Superpaint with nationwide distribution across Indonesia.
• Mowilex Indonesia: Indonesian premium paint manufacturer focused on eco-friendly and weather-resistant coatings, with strong presence in architectural and wood finishes, directly competing with Indaco's Belazo and Envi product lines in the Indonesian market.

Regional players

• Dana Paint Indonesia: Indonesian coatings manufacturer producing decorative and protective paints with nationwide distribution, comparable in scale and market positioning to Indaco within the Indonesian paint market.

Broad incumbents

• Kansai Paint Indonesia: Japanese-owned paint manufacturer with Indonesian operations offering architectural, automotive, and industrial coatings under brands such as Kansai and Sawa, competing with Indaco across multiple Indonesian coating verticals.
• Nippon Paint Indonesia: Subsidiary of Japan's Nippon Paint Holdings, one of the largest paint manufacturers in Indonesia with a broad portfolio spanning architectural, automotive, industrial, and protective coatings, posing significant scale and brand competition to Indaco.
• AkzoNobel (Dulux Indonesia): Global paints and coatings major operating Dulux and Sikkens brands in Indonesia, offering premium architectural and protective coatings that compete directly with Indaco's Belazo premium line across the Indonesian decorative segment.
• Berger Paints (Asia/Oceania operations): Regional paint manufacturer with presence across South and Southeast Asia, offering decorative and protective coatings that overlap with Indaco's product portfolio in similar market segments.
• Hempel (Indonesia): Danish coatings multinational with Indonesian presence focused on protective, marine, and industrial coatings, competing with Indaco's KREANOVA and industrial protective coating product lines.
• Jotun Indonesia: Norwegian paint multinational with significant Indonesian operations focused on decorative, marine, and protective coatings, competing with Indaco particularly in industrial and protective coating segments across Southeast Asia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCk9w7tYd3XE0olC8mkgHDUw
• Facebookfacebook.com/indacogreenpaints
• Instagraminstagram.com/green_indaco_paints
• Xx.com/indaco_green_p
• LinkedInlinkedin.com/company/pt-indaco-warna-dunia

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indaco