A new independent 90 page research with title ‘Specialty Chemicals Market in India 2019’ guarantees you will remain better informed than your competition. The study covers geographic analysis that includes regions and important players/vendors such as Aarti Industries Limited, Atul Limited, BASF India Limited, Bodal Chemicals Limited, Deepak Nitrite Limited, Galaxy Surfactants Limited, PI Industries Limited, Pidilite Industries Limited, SRF Limited, Vinati Organics Limited. The research gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2022
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Over the past few years, the specialty chemicals market in India has been flourishing, owing to the rise in demand from various end-user industries. The specialty chemicals market in India was valued at INR 2,356.92 Bn in FY 2018 and is expected to reach INR 4,527.36 Bn by FY 2024, expanding at a compound annual growth rate (CAGR) of ~11.9% during the FY 2019-FY 2024 period. Unlike basic chemicals, the price of specialty chemicals is determined depending on their unique features and utilities rather than composition. Major players operating in the market include Aarti Industries Limited, BASF India Limited, Deepak Nitrite Limited, PI Industries Limited, and SRF Limited.
Market segment insights
In FY 2019, the colorants segment held the largest market share of ~27%, followed by the paints and coatings (~25%), and agrochemicals (~14%) segments. The demand for colorants picked up due to the growth of the textile and automobile industries, as well the real estate market, both within and outside India. The Indian automobile industry accounts for the highest demand for paints and coatings. The growth of agrochemicals production can be attributed to the rising demand of high-yielding seeds and crops among farmers, in order to fulfil the growing requirement of food across the country.
Companies Mentioned in the Report: Aarti Industries Limited, Atul Limited, BASF India Limited, Bodal Chemicals Limited, Deepak Nitrite Limited, Galaxy Surfactants Limited, PI Industries Limited, Pidilite Industries Limited, SRF Limited, Vinati Organics Limited
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Among the major segments of the Indian specialty chemicals market, the water treatment chemical segment is expected to experience the fastest year-on-year growth of ~14.63% during the FY 2016-FY 2024 period. The troubling rise in water pollution and drinking water requirements for the continually increasing population results in the high demand of water treatment chemicals.
Key growth drivers of the market
An increase in demand in end-user industries like food processing, personal care, and home care is propelling the development of the different segments of the Indian specialty chemicals market. Due to busy work schedules, people lack the time to cook and prefer consuming processed and packaged foods. Edible oils find application in the food processing market. Therefore, growing consumption of processed and packaged food is leading to the rise in demand of edible colors. Improvement in the standard of living as a result of globalization and an increase in the per capita income are driving growth in the premium home care and personal care segments. In addition to the increasing demand from end-user industries, the downturn of the Chinese chemical market in the past few years has established export opportunities for Indian manufacturers.
Key deterrents to the growth of the market
The specialty chemicals market in India is operated mostly by small-scale firms that cannot compete with large firms functioning in the global market. Moreover, the demand and supply of specialty chemicals largely depend on the demand from end-user industries. Therefore, a minor change in the operation of end-user industries leads to significant implications in the specialty chemical market. Due to the fragmented nature of the market and high dependence on end-user industries, specialty chemicals companies in India face stiff competition, with buyers switching brands based on product quality and price.
• Aarti Industries Limited
• Atul Limited
• BASF India Limited
• Bodal Chemicals Limited
• Deepak Nitrite Limited
• Galaxy Surfactants Limited
• PI Industries Limited
• Pidilite Industries Limited
• SRF Limited
• Vinati Organics Limited
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Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
3.2. Major organizations controlling the Indian specialty chemicals market
Chapter 4: Market overview
4.1. Specialty chemicals market overview
4.1.1. Historical market
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