Press Release

India Specialty Chemicals Market Estimated at $ 31.8 Billion

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, Competition Forecast & Opportunities, 2024 the India specialty chemicals market is expected to grow during the forecast period driven by growth of domestic end use segments as well as exports. Moreover, low cost labor and easy availability of raw materials are further driving the market. Chemicals plant shutdown in China and Europe have created opportunities for companies to consider India as an important market. However, rising environmental concerns and economic downturn are likely to hamper the growth of the market during forecast period.

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The country’s specialty chemicals market is estimated to have reached $ 31.8 billion in 2018. The India specialty chemicals market is segmented based on product, function, region and company. Based on product, the market can be fragmented into Pharmaceuticals, Colorant, Paints, Agrochemicals, Flavors & Fragrance, Surfactants, Textile Chemicals, Personal care and others (water treatment, automotive, etc.). The pharmaceuticals & agrochemicals are anticipated to garner the largest market share during the forecast period on account of increasing applications of specialty chemicals. Moreover, pharmaceuticals and colorant sectors are anticipated to grow at the fastest pace during the forecast period owing to the rapid growth in cosmetics and personal care sectors.

SRF, Aarti, Galaxy Surfactants, Solvay, Himadri, Sudarshan Chemicals, Vinati, Atul, Bodal, NOCIL, Meghmani, Navin Fluoro Chemicals, Camlin Fine Sciences, Indofil, and Clariant. 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, 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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