Press Release

India Specialty Chemicals Market to Grow at Formidable Rate During Forecast Period

Increasing demand for specialty chemicals from various end-user industries to drive growth of India specialty chemicals market

According to TechSci Research report, India Specialty Chemicals Market By Product Type, By Function, Competition Forecast & Opportunities, 2024 the India specialty chemicals market is expected to grow at a robust CAGR during the forecast period driven by growth of domestic end use segments and export. Moreover, low cost labor and easy availability of raw materials are further driving the market. However, rising environmental concerns are likely to hamper the growth of the market during forecast period.

The India specialty chemicals market is segmented based on product, function, region and company. Based on product, the market can be fragmented into Agrochemicals, Polymer & Plastic Additives, Construction Chemicals, Electronic Chemicals, Cleaning Chemicals, Surfactants, Lubricants & Oil Field Chemicals, Specialty Coatings, Paint coatings, Paper & Textile Chemicals, Food Additives, Adhesives & Sealants, Others. Others include Polyethylene Terephthalate [PET] and Polyvinyl Chloride [PVC].  The food additives and surfactants are anticipated to garner the largest market share during the forecast period on account of high growth in packaged food and household care across the country. Moreover, the construction chemicals and paint coatings are anticipated to grow at a fast pace during the forecast period owing to the rapid growth of construction industry in the country.

Vinati Organics Limited, Omkar Specialty Chemicals Ltd., Tata Chemicals Ltd., Clariant Chemicals India Ltd., BASF India Ltd., NLC Nalco India Ltd., LANXESS India Private Limited, Cytec India Specialty Chemicals and Materials Private Limited, Unitop Chemicals Pvt., Ltd., Environ Speciality Chemicals Pvt. Ltd. and others are some of the leading players operating in India specialty chemicals market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“India is one of the fastest growing and largest markets in the APAC region and is expected to create huge opportunities for the specialty chemicals market. Additionally, the closure of plants in China owing to environmental concerns has opened doors for Indian manufacturers to invest further in specialty chemicals, thereby further fueling growth in the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Specialty Chemicals Market By Product Type, By Function, Competition Forecast & Opportunities, 2024 has evaluated the future growth potential of India specialty chemicals market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India specialty chemicals market.

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