Chemical and Petrochemical sector business in India is around $ 178 billions which is assumed to grow up by $ 300 billions by the year 2025. Manufacturing output of significant chemicals gone up to 43.51 lakh metric tonnes during the financial year 2022-2023 (Up to July 2022) in comparison to 41.15 lakh tonnes during the same period the previous year, a 5.73% rise.
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Overall, the output of main chemicals increased by 5.73% in 2022-2023 (up to July 2022) compared to 2021-2022 (up to July 2021), with the majority of subsectors seeing significant increases: alkali chemicals by 8.68% and inorganic chemicals by 4.39%. Major Petrochemicals' subsectors have reported higher production in 2022-23 (up to July 2022) than in 2021-22 (up to July 2021). Other Petrochemicals: 2.73%, Performance Plastics: 15.43%, Synthetic Fibres: 3.54%.
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In September 2022, exports of organic and inorganic chemicals were $ 2,332.92 million, or 7.15 percent of all exports that month. The average industrial production index for chemicals and chemical products in the FY 2021-22 is 120.7, up 4.1% over the previous year.
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By FY25, the Indian agrochemicals market is projected to increase at an 8% CAGR and reach $4.7 billion. Speciality chemicals make up 22% of India's overall market for chemicals and petrochemicals.
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