India chemical industry is expected to see a CAGR of 4.8% during the period (2019-2025). India is anticipated to notice a considerable impact on its chemical industry due the outbreak of COVID-19 pandemic. The value of chemical sales in India is expected to showcase a slight decline due to this outbreak. Indian chemical industry purchases the raw material for chemical manufacturing from China and with the supply chain disturbance; the Indian chemical manufacturing firms are having shortage of raw-material and capital goods for chemical manufacturing. Much before the COVID-19 crisis, the Indian chemical industry was showing strong year-on-year performance. Post COVID-19 outbreak, factory and plant lockdowns have casted a severe effect on the domestic chemical manufacturing. India’s major chemical manufacturers have closed down their production facilities or reduced their production capacity in lieu of a nationwide government-mandated lockdown to combat the coronavirus COVID-19 pandemic. As per the ordinance of the Ministry of Home Affairs passed on March 2020, the production facilities must be ceased until they received the order from government to resume them. Under this ordinance, the manufacturing of essential commodities and production units that require continuous processing are being exception.
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India chemical industry is segmented into petrochemicals, basic inorganic, polymers, specialty chemicals, consumer chemicals, and others. Based on the segmentation, the petrochemical industry is expected to see a considerable downfall in 2020, due to the COVID-19 pandemic. On the other hand, the consumer chemical industry is least impacted with the substantial demand for soap and detergents even during the pandemic. Therefore, the consumer chemical industry is expected to see a least impact, with a downfall of around 1.5% in 2020, due to the outbreak. Consumer chemical essentially includes cosmetics, vitamins, and health supplements, soaps, detergents, and household chemicals, perfumes, and flavors. The demand for consumer chemicals has increased significantly during the COVID-19 pandemic and to ensure the proper supply of the products related to consumer chemical government is taking essential steps.
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The major chemical companies in the region include Aarti Industries Ltd., Reliance Industries Ltd., Tata Chemicals Ltd., Pidilite Industries Ltd., and UPL Ltd. Various companies are providing aid to the Indian government to fight against the COVID-19 pandemic. For instance, Reliance Industries (RIL), a major multinational company in India, in March 2020 had donated $65.3 million towards the PM-CARES fund. In addition to this, the company is making an additional contribution of $0.6 million each towards the states of Maharashtra and Gujarat in order to offer them support amid the ongoing coronavirus outbreak.
Market Overview and Insights
Scope of the Report
Analyst Insight & Current Market Trends
• Key Findings
• Recommendations
• Conclusion
Government Support for the India Chemical Industry
Supply & Demand Analysis
Industry Overview
• Historical Market Growth Estimation in India Chemical Industry Excluding The COVID-19 Pandemic Effect
• Deviations in the India Chemical Industry Growth Rate Due To COVID-19 Pandemic
Verticals Affected Most
• Petrochemicals
• Basic Inorganic
• Polymers
• Specialty Chemicals
• Consumer Chemicals
• Others(Auxiliaries for Industry)
Company Profiles
• Aarti Industries Ltd.
• Atul Ltd.
• Coromandel International Ltd.
• Deepak Fertilizer and Petrochemicals Corp., Ltd. (DFPCL)
• Gujarat Fluorochemicals Ltd.
• PI Industries Ltd.
• Pidilite Industries Ltd.
• Reliance Industries Ltd.
• Tata Chemicals Ltd.
• UPL Ltd.
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