The chemical sector has significant growth in India due to various factors such as structural benefits, high domestic consumption, availability of diversified products, and promising export potential. Basic chemicals and their related products such as petrochemicals, fertilizers, paints, varnishes, glass, perfumes, toiletries, pharmaceuticals, and others contribute a significant part in the Indian economy. The Indian chemical industry has diversified portfolios covered over 80,000 chemical products. According to the India Brand Equity Foundation (IBEF), India has a sixth position in the production of chemicals across the globe and the third-largest country in Asia-pacific. India has the third rank in the production of agrochemicals across the globe and contributes around 16% to the global dyestuff and dye intermediates production. As per the IBEF, the chemical sector is projected to reach $300 billion by 2025, growing at an annual growth rate of 15-20% owing to the rising demand for chemicals and reduce imports in the country.
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The Categories Covered in the Indian chemical Domain Include
• Base Chemicals
• Specialty Chemicals
• Pharma Chemicals
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The Agrochemical industry includes Insecticides, herbicides, fungicides & other crop protection chemicals and others. India has significant growth in the agrochemical industry owing to the growing demand for pesticides and other agrochemicals to increase agriculture productivity. According to the American Institute of Chemical Engineers (AICHE) the Indian agrochemical industry is the fourth largest industry across the globe after the US, Japan, and China. The industry included mostly generic products for the local market and India has become the dominant producer of products such as synthetic pyrethroids and isoproturon.
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