BASF, Covestro, Saudi Aramco and many other foreign-invested companies have announced their investment in India
May 29, 2024, 11:58 AM
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Highlights at a glance
Recent investments by Radici and DIC, along with expansions by Covestro and BASF, highlight the booming chemical industry in India. With over 70,000 products and a market size expected to reach $300 billion by 2025, India's chemical sector is set for significant growth, driven by increasing demand in specialty chemicals and supportive macroeconomic conditions.
Recently, Radici and DIC have announced plans to invest in India. Before that, Covestro and BASF also announced to expand their product production capacity in India.
India and Asia Pacific are generally developing economies, and as India and Asia Pacific grow, the demand for specialty/fine chemicals will grow.
India currently produces more than 70,000 chemical products. Parag Jhaveri, Managing Director and CEO of Yasho Industries, has pointed out that the global market offers huge opportunities for India and Asia Pacific.
According to the data in Deloitte China's "2022 Global Chemical Industry M&A Outlook" report, in 2021, India's GDP will recover rapidly, with a growth rate of 9%, and it is expected to grow by 9% in 2022, making India the fastest growing economy in the world. one of the bodies.
Currently, the Indian chemical industry ranks sixth in the world, with a market size of US$178 billion and is expected to reach US$300 billion in 2025. In 2020-21, India attracted $184.8 billion in foreign direct investment (FDI) by allowing foreign direct investment (FDI) of up to 100 percent.
Overall, India's chemical industry has achieved strong growth in various segments. Specifically, petrochemicals are expected to grow at a CAGR of 7.5%, agrochemicals at 8%, and specialty chemicals at 12%.
Deloitte expects M&A activity in the Indian chemical industry to further accelerate due to strong macroeconomic performance and a positive industry environment.
India currently produces more than 70,000 chemical products. Parag Jhaveri, Managing Director and CEO of Yasho Industries, has pointed out that the global market offers huge opportunities for India and Asia Pacific.
According to the data in Deloitte China's "2022 Global Chemical Industry M&A Outlook" report, in 2021, India's GDP will recover rapidly, with a growth rate of 9%, and it is expected to grow by 9% in 2022, making India the fastest growing economy in the world. one of the bodies.
Overall, India's chemical industry has achieved strong growth in various segments. Specifically, petrochemicals are expected to grow at a CAGR of 7.5%, agrochemicals at 8%, and specialty chemicals at 12%.
Deloitte expects M&A activity in the Indian chemical industry to further accelerate due to strong macroeconomic performance and a positive industry environment.
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