Overview of the Specialty Chemicals Market In India
Posted by Andrew Thomas on September 24th, 2019
Chemicals produced on a large scale and used for manufacturing purposes are split up into two categories of commercial and specialized product – where the specialized products entail all those goods that have a high demand but are required, or supplied in smaller quantities, and as such command higher prices. Fluorospeciality Chemicals are in huge demand and serves as a raw material for API industries.
The other are commercial products such as phenol, acetone, and calcium chloride and there is a higher demand for each of them. As a result, they fall cheaper to purchase and are often shipped out in bulk. This section is further divided into the organic and inorganic sectors, where the inorganic products are made everywhere and are in high supply, but demand for it doesn’t match and is often very low.
In the organic chemicals, you have things like Phenol, Methanol, Toluene, Methylene dichloride and are used in many things. These kinds of chemicals have a huge market, but only a handful of manufacturers produce them. So the result is that you have an end product that has a heavy price tag. The Specialty Chemicals Market In India caters to these industries.
Organic chemicals have an upward trend as consumers are now wanting products that are healthy, chemical-free. Such chemicals go into the industries that deal with the production of light and energy, fruit preservatives, wires and cables, packaging industries, cosmetics, pain relievers, sweets, nitro-glycerine, fuel for engines, varnish/polish and artificial colouring agents.
Finally, you have specialty chemicals, and this has to do with the items used by consumers daily, like agrichemicals, cosmetic additives, adhesives, cleaning materials, colors, construction chemicals, elastomers, flavours, food additives, lubricants, paints, polymers, surfactants, fragrances, industrial gases.
Petroleum refineries – These are the places that treat raw petroleum to get by-products like petrol diesel, natural gases, petroleum gases, etc. and are ultimately pushed into various other markets like automotives, automotive ancillaries, beauty, and personal car, etc.
Glass manufacturing – These are the places that make glass sheets for use with many purposes like building homes, properties, doors, beverage bottles, car window glasses.
Cement industries – Cement is used as an integral part of the building material in practically all real estate projects, constructions, civil infrastructure developments, and maintenance of the like.
Fertilizers - These are the places that make fertilizers for use during farming, raising crop production.
This landscape, however, is in the process of transformation, where the traditional demand cycles are slowly being disrupted by digital platforms. It might look like this could leave the industry in a mess, but might actually prepare it for incoming flood of demand, especially from other nations – a market change fostered by a slowdown in the Chinese GDP.
This slowdown has resulted in threshold levels on the average domestic demand rates. And coupled with the consistent GDP growth rate that India has, the specialty chemical market now has opportunities for domestic and international chemical suppliers waiting for it. The demand that it is already catering to is split into the domestic and global categories.
Our related post:
Advantages of entering the Specialty Chemicals Market In India
A quick overview of the Specialty Chemicals In India
What are the Factors Driving the Growth of the Specialty Chemicals Market in India?
