India's market for chemicals is estimated at US $ 35 billion. Owing to
the increasing wealth of the Indian population and accumulated needs,
analysts expect further growth in the future, a new market report by
Germany Trade and Invest says.
According to German Trade and Invest survey report, India's chemical industry, although on a back foot compared to the European or American industry leaders, is still on a growth curve. The country is estimated to be the world's 12th largest producers of chemicals and expected to profit from its emerging economy and consumer demand. The IIP index of industrial production for chemicals rose by 2.3 per cent within the last year.
An even
higher growth is expected for the current year, mostly driven by a
post-crisis rise in market demand of automotive supplies, building and
construction and consumer goods.
The Ministry of Chemicals and Fertilizers estimates the country's chemicals market at US $ 35 billion (US $ 20 billion of which are the market for basic chemicals while the speciality chemicals market is rate with US $ 9 billion). The Indian Chemical Council has even projected the Indian chemical markets to reach a total US $ 68 billion market (basic chemicals US $ 33 billion, speciality chemicals US $ 17 billion). Both still expect a big potential for growth in the Indian chemicals market.
According to German Trade and Invest survey report, India's chemical industry, although on a back foot compared to the European or American industry leaders, is still on a growth curve. The country is estimated to be the world's 12th largest producers of chemicals and expected to profit from its emerging economy and consumer demand. The IIP index of industrial production for chemicals rose by 2.3 per cent within the last year.
The Ministry of Chemicals and Fertilizers estimates the country's chemicals market at US $ 35 billion (US $ 20 billion of which are the market for basic chemicals while the speciality chemicals market is rate with US $ 9 billion). The Indian Chemical Council has even projected the Indian chemical markets to reach a total US $ 68 billion market (basic chemicals US $ 33 billion, speciality chemicals US $ 17 billion). Both still expect a big potential for growth in the Indian chemicals market.
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