- Street: 12F, HuaYin Mansion, No.5, Donghai West Road, Qingdao, China
- City: Qingdao
- State: Shandong
- Country: China
- Zip/Postal Code: 231300
- Listed: September 26, 2021 4:43 pm
- Expires: 4 days, 18 hours
The chemical industry is a diversified industry, including organic, inorganic, dyes, pesticides, paints, soaps and petrochemicals. Research and development are essential to the growth and development of this sector. The industry’s continuous research and development work helps to improve its quality standards, obtain higher output, thereby reducing production costs, and gaining a competitive advantage in the international market. Indian chemical industry companies spend about 2-3% of their total turnover on research and development, while overseas multinational chemical companies account for 9-10%.
Chemical substances are an indispensable part of modern life and involve almost all areas of human activities. The chemical industry is a very important part of the growing Indian economy and the backbone of the development of India’s industry and agriculture. Infrastructure and raw materials. The per capita consumption of chemicals is about one-tenth of the world average, which indicates that the potential demand has not yet been realized. Natural gas, benzene, toluene, xylene, naphthalene (BTXN), ethylene, propylene, phosphorus, salt, sulfur, etc. are the main raw materials for the production of chemical products.
2. Overview of the chemical industry:
The chemical industry is an important part of India’s economic growth.
Provide several basic materials and raw materials for textile, paper, paint, soap and detergent, pharmaceutical, agrochemicals and other industries.
In 2017, the global chemical market (including fertilizers and pharmaceuticals) was estimated at USD 5 trillion. The Indian chemical industry currently accounts for about 3% of the world’s chemical market.
From 2017-18, India’s chemical industry (including fertilizers and pharmaceuticals) was worth US$163 billion. It is ranked sixth in the world and fourth in Asia.
India ranks 17th in the world’s chemical exports (excluding pharmaceutical products) and 7th in the world’s chemical imports (excluding pharmaceutical products).
From 2016 to 2017, exports of chemical and petrochemical products accounted for 10.3% of the country’s total exports.
From 2016 to 2017, imports of chemical and petrochemical products accounted for 10.2% of the country’s total imports.
As Asia’s contribution to the global chemical industry continues to grow, India has become one of the key destinations for global chemical companies. India’s chemical industry accounts for about 3% of the global chemical industry. With the joint efforts of industry and the government, the Indian chemical industry may grow at a double-digit rate. However, the industry may have greater growth, and its growth potential is only limited by its ambitions. Taking into account the increasing competitiveness of India’s manufacturing industry, this has the potential to rise further in the future. The Ministry of Finance is taking measures to promote investment in order to achieve higher growth rates.
World-class infrastructure, including developed land, ordinary sewage treatment facilities, and solid waste treatment and incineration facilities, is very important for attracting investment from the Indian chemical industry. Various sectors of the chemical industry (such as organic chemicals, specialty chemicals, chlor-alkali, pesticides, colorants, and alcohol-based chemicals) have their own unique set of challenges. Only when these market segments overcome challenges and move fast along the growth path can this industry develop and grow. The Ministry is taking all necessary measures to address the challenges with the highest priority and promote the accelerated growth of the sector.
3. The growth momentum of the chemical industry:
The huge population, huge domestic market’s dependence on agriculture and strong export demand are the main growth drivers of this industry.
The world shifted to Asia and became the world’s chemical manufacturing center.
Compared with Western countries, India’s per capita chemical consumption is low, so there is huge room for new investment.
The increase in GDP and purchasing power has provided huge growth potential for the domestic market.
Focus on new areas such as expertise and knowledge chemicals.
Technical science major.
World-class engineering technology and strong research and development capabilities.
Some of the major chemical markets are North America, Western Europe, Japan, and emerging economies in Asia and Latin America. The United States accounts for about one-fifth of global chemical consumption, and Europe is the world’s largest chemical consumer. Half of consumption. The United States is the largest consumer of household chemicals, while the Asia-Pacific region is the largest consumer of agrochemicals and fertilizers.
19 total views, 2 today