Every year, the Indian Chemical industry’s chart is getting higher year by year. The chemical industry’s role as one of the capital intensive of economic growth is well-established across the whole nation. It now has become one of the most influential markets throughout the whole world.
The chemical industry occupies a pivotal position in meeting basic needs and improving the quality of life as well. Petrochemicals, fertilizers, paints, varnishes, glass, perfumes, toiletries, pharmaceuticals, constitute a significant part of the Indian chemical sector Among the most diversified industrial industries. This sector has covered an array of more than 70,000 commercial products.
Although India is severely deficient in conventional hydrocarbons, the country has a well-developed refining industry that provides several basic chemical industry feedstocks.
In import-export, the industry’s revenues in 2019 were $214 Bn and In 2020 it is expected to grow 300$ Bn or even more. India’s chemical industry is also witnessing a sizeable increase, as in 2017, it was $160Bn. Apparently India is looking forward to outrunning some of the chemical honchos of this industry.
Chemical Sectors –
- Petrochemical Industry – This sector’s products are obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, derived from various chemical compounds, mainly from hydrocarbons. These hydrocarbons are derived from crude oil and natural gas. Among the various fractions produced by distillation of crude oil, petroleum gases, naphtha, kerosene and gas oil are the main feedstocks for the petrochemical industry.
- . Fertilizers industry – You can define it as any substance which is organic or inorganic, natural or artificial, provides one or more of the chemicals needed for plant growth. Carbon, oxygen, and hydrogen are already supplied by air and water, therefore not be considered as nutrients by the fertilizer industry.
- Pharmaceuticals – Pharmaceutical sector industry supplies over 50% of global demand for various vaccines, 40% of generic demand. (We already have covered pharmaceuticals sector’s growth, just in case you haven’t read it CLICK HERE
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