Key Points
New Delhi [India], October 21 (ANI): The Indian chemical industry is gearing up to capture a bigger share of the global market as China struggles with unused production capacity, which is likely to keep chemical prices steady, according to Axis Capital report...
With an expected 4 per cent compound annual growth rate (CAGR) in the global speciality chemicals sector, Indias chemical industry is projected to expand at a faster pace of 15-20 per cent CAGR between CY22-30, driven by ongoing capacity expansion, R&D investments, and strategic market positioning...
Indian chemical companies have been expanding their production facilities in a well-planned manner, investing heavily in research and development (R&D), and securing contracts to make supply chains safer...
Between FY22-24, the gross block for chemical companies saw a compound annual growth rate (CAGR) of 21-23 per cent, compared to a 10-15 per cent CAGR in the preceding period (FY12-18)...
However, Indian companies could benefit from their niche offerings and backward-integrated operations, allowing them to capture market share from China and Europe through higher volumes, process innovations, and new product introductions..
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