Chemicals & Paints
India is the 6th largest producer of chemicals in the world and 3rd in Asia, contributing 7% to India’s GDP.
- The industry is expected to reach US$ 304 billion by 2025 at a CAGR of 9.3%, driven by rising demand in the end-user segments for specialty chemicals and petrochemicals segment.
- Chemicals and petrochemicals demand in India is expected to nearly triple and reach US$ 1 trillion by 2040.
India is the third largest polymer consumer in the world and is expected to consume 60 million tonnes by 2040.
- The agrochemicals market in India is expected to register an 8.6% CAGR to reach US$ 7.4 billion between 2021 and 2026.
- Specialty chemicals account for 20% of the global chemicals industry's US$ 4 trillion, with India's market expected to increase at a CAGR of 12% to US$ 64 billion by 2025. This gain would be driven by a healthy demand growth (CAGR of 10-20%) in the export/end-user industries