Specialty Chemicals - An opportunity for Make in India

The Indian Chemical Industry is one of the fastest-growing industry in the world and contributed to ~6.6% of national gross domestic product. Currently, it ranks 3rd in Asia and 6th in the world with respect to output, after the US, China, Germany, Japan and South Korea and is expected to reach USD 286 billion by 2025, up from USD 187 billion in 2020 with a CAGR of ~9%. Indian specialty chemicals segment constitutes about 18% of the total chemical industry in India.

The specialty chemicals industry in India has witnessed a constant growth over the past few years, driven by a strong traction in the end-user markets, and emergence of India as the preferred manufacturing destination for companies across the globe. It has been one of the best performing segments in the Indian manufacturing sector.