Technology from NRDC, India available for commercial production
Per capita consumption of chemicals in India is lower as compared to western countries.
Rise in GDP and purchasing power generates huge growth potential for the domestic market.
A focus on new segments such as specialty and knowledge chemicals.
Skilled science professionals.
World-class engineering and strong R&D capabilities.
Policies have been initiated to set up integrated Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIR).
PCPIR will be an investment region spread across 250 square kilometres for the manufacture of domestic and export-related products of petroleum, chemicals and petrochemicals.
Make Specialty Chemicals in India
$224 billion output in Fiscal 2017
The value of global chemical industry is estimated at $3.26 trillion, while the output of Indian chemical industry is $144 billion (Current).
The global chemical industry is expected to reach $4.5 trillion, while Indian chemical industry is estimated to reach $224 billion in fiscal year 2017.
Chemical Industry in India - 2015
Indian chemical industry has grown over 20 times in the last 17 years. But , there is a great scope for further expansion. As per the FICCI Knowledge Paper of 2014, per capita consumption of chemicals in India is much lower than the western countries. The current low per capita consumption (~10 kgs
for polymers in India as compared to world average of 25 kgs) suggests that the
demand will grow in future. The industry was valued only at $ 144 billion in FY 14. The industry has grown drastically in the bulk-commodity space. But in the specialty chemicals space , similar growth has not taken place.
According to Planning Commission, India’s share in export of global chemicals is less than 2 per cent.
It is evident that the future of India's chemical industry will be dominated by specialty chemicals. McKinsey India projects that the sector has the potential to grow to a size of $ 100 billion in 2020, from $ 22 billion in FY 13. Total chemical industry in India will grow to $200 billion in 2020.
40 percent of India’s agricultural produce perishes because of the lack of proper packaging. Chemical industry can provide packaging solutions that can reduce loss of produce during transport, enhance shelf life, manage-moisture, from the farm to kitchen.
The chemical industry typically grows one and half to two times of the GDP, which would mean a rate of 15 to 20 percent during the period India grows at 8 to 10% per year.
CII has established ‘ChemSource’ as India’s novel chemicals database ready to feed information into India’s National Chemicals Inventory and carrying forward the industry mandate on Green Chemistry that seeks to produce eco-friendly chemicals through sustainable means with minimal waste and optimum output.
Companies in India produce more than 70,000 commercial chemicals products with total production in 2013-14 of almost 20 million metric tonnes.
Updated on 6 November, 3 April , 2 April 2016, 15 Feb 2016