Chemical Industry
India is 6th largest chemical producer growing at 13% CAGR among the highest globally. Currently, 3rd in agrochemicals production & polymer consumption and an emerging player in specialty chemicals
IDEX India Products for Chemical Industry
Key Drivers:
- Emerging Manufacturing Hubs (PCPIR): Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIR) policy to build dedicated integrated manufacturing hubs with $15 Bn already invested
- Disinfectant Requirement post COVID-19: India’s chloro-alkali, ethanol, personal care, surfactant industry segments to grow with rising needs for disinfestation of personal and public places
- Market Potential: Large domestic consumer markets for chemicals with current chemicals’ consumption per capita 1/10th of global
- Foreign Investment: 100% FDI In the chemicals sector, strong laws on anti-dumping to further promote domestic manufacturing industry. Global giants BASF, Dow Chemicals, Bayer etc. have presence in India in manufacturing
- Skilled manpower, low cost labor among major global economies, world-class engineering, and strong R&D set-up enabling chemicals industries
- Growing End use Industries: Increasing demand from packaging, construction and automotive industry for specialty chemicals growing at 14% CAGR
- Metals & Mining: Aluminum demand is rapidly growing as its use is diversified and has wide applications in various areas such as transport, building and architectural sectors, packaging, consumer durables, etc.
