The Indian chemical industry is estimated to be around US$ 120 billion and it is approximately 3 per cent of the global chemical market. It is highly diversified with more than 80,000 chemicals and currently accounts for 15 per cent of manufacturing GDP which makes it very crucial for the economic development of the country
The Indian chemical industry is the 3rd largest in Asia and 12th globally, in terms of volume. The industry is expected to grow at 14% annually to reach US$ 350 billion by 2021. India accounts for approximately 7 % of the world’s production of dyestuff and dye intermediates and is currently the world’s 3rd largest consumer of polymers and 4t largest producer of agrochemicals.
With 72 % of the total production share, alkali chemicals form the largest segment in the Indian chemical industry. Total exports of chemicals grew at a CAGR of 16.2 per cent to reach US$ 15.5 billion.
The chemical industry has scope for growth in the specialty chemicals market which has expanded at a CAGR of about 12 – 13% and is expected to reach US$ 45 billion by 2017. The construction chemicals sector is also set to touch US$ 1 billion.
The polymer chemicals sector is anticipated to grow at a higher rate due to growth in plastic demand resulting from increased usage in packaging, construction and automotive sectors.
Sugar is an important Process Industry which is of significant importance to the Indian economy. India has been known as the original home of sugar and sugarcane. India is the 2nd largest producer of sugarcane next to Brazil. India is the largest single producer of sugar including traditional cane sugar sweeteners, followed by Brazil in the 2nd place. While consumption has been growing historically, the production has been cyclical. At present, the sugar industry is regulated across the value chain. Investments in by-products are at a nascent stage, and the sector has struggled to generate a return on invested capital in excess of its cost of capital in most years, primarily due to a high mandated fixed cane price and a volatile sugar price.
Paper & Pulp is another important Process Industry for India. Indian Paper Industry accounts for about 1.6% of the world’s production of paper and paperboard. The estimated turnover of the industry is US$ 6 billion Demand of writing and printing paper has been growing around 5 – 8% while newsprint has registered a growth of 13%. The Indian Paper Industry has the top 15 global players with an output of more than 6 mtpa.
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