#Company #Potential
• The Indian chemical industry is an integral component of the Indian economy, contributing ~2% to the nation’s gross domestic product (GDP) and ~16% to the manufacturing sector. • Thechemical industry is broadly classified into specialty chemicals, agrochemicals, petrochemicals, bulk chemicals, polymers and fertilizers. • Specialty chemicals are used as ingredients in finished products and to improve manufacturing processes. They are also called performance chemicals due to their vital role in enhancing the quality of various products. • It has a unique positioning in the chemical industry as they are manufactured and sold based on their performance or function, unlike commodity chemicals which are strictly based on their chemical composition. • Specialty chemicals constitute 22% of the total chemicals and petrochemicals market in India. Due to the rise in demand from various end-userindustries, the specialty chemicals market in India has been flourishing over the past few years. • Theclosure of plants in the European Union and China, owing to increasing environmental concerns, has opened doors for Indian manufacturers to invest further in specialty chemicals.
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