Editorial February-2019 Chemical Industry Fun Facts
10 Feb 2019
- India is the third largest consumer of polymers in the world.
- Fourth Largest producer of agrochemicals in the world.
- Sixth largest producer of chemicals in the world.
- The Indian chemical industry is projected to reach $304 bn by 2025
- Indian chemicals industry excluding pharmaceuticals products ranks 14th in exports globally.
- Demand for chemical products is expected to grow at approximately 9% per annum over the next 5 years.
- Indian chemical industry employs more than 2 mn people.
- 100% FDI is allowed under the automatic route in the chemicals sector (except in case of certain hazardous chemicals)
|Dyestuff and dye intermediates share (global)
||Nation’s Gross Value Added
||Chemical products exports share
||Contribution to global chemical industry
As per the investindia government portal, the market size of the chemicals industry in India stood at $163 bn in 2017-2018
Total production of chemicals and petrochemicals stood at 47,882,000 MT during 2017-18, a 2.62% increase over 2016-17. Alkali chemicals had the largest share in the Chemical industry in India with approximately 69% share in the total production. Production of polymers account for around 59% of total production of basic major petrochemicals.
- The petrochemical market in India is expected to grow at a CAGR of 10% over the next 5 years to reach $ 100 bn by 2022
- The market for crop protection chemicals in India is expected to reach $ 7.5 bn by 2019. This growth in demand is based on a rapidly growing population and a decrease in per capita availability of arable land, both of which result in a greater need to increase agricultural yield
- The specialty chemicals market has witnessed a growth of 14% in the last five years; the market size is expected to reach $ 70 bn by 2020
India’s 50% exports of Agro-chemical production is likely to continue
Specialty chemicals :
World’s third largest polymer consumer owing to a growing Automobile industry
Construction chemicals :
100 Smart Cities by 2020 and other dependent construction projects
Colourant chemicals :
15% of global industry share
These are the major projects in the chemicals sector.
||Petroleum & Chemical Region Project
||Flavors & Fragrances
||Sri City, Andhra Pradesh
||Plastic Products Project
There are a total of 44 projects with a $ value opportunity of $2.9 bn in 37 districts of India, out of which 39 are private projects and 5 are government projects.
So, do we see a bright future for the chemicals sector in India? You decide.
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