India Specialty Chemicals Market to Grow with a CAGR of 3.86% through 2029
Growing demand of specialty chemicals in textile
industry is expected to drive the India Specialty Chemicals Market growth in
the forecast period, 2025-2029.
According to TechSci Research report, “India
Specialty Chemicals Market- By Region, Competition, Forecast
and Opportunities, 2019-2029”, the India Specialty Chemicals Market stood at USD41.90
billion in 2023 and is anticipated to grow with a CAGR of 3.86% in the forecast
period, 2024-2029. Initiatives taken by government based on specialty chemicals
has led to favorable market conditions for the India Specialty Chemicals Market.
Several factors contribute to the growth of various specialty chemicals products.
Historically, the government has established
public-sector companies such as Hindustan Antibiotics Ltd. (HAL) and Indian
Drugs and Pharmaceuticals (IDPL), both of which have played a crucial role in
the development of the chemicals industry in India. These companies have
contributed to the growth of the sector by producing essential pharmaceuticals
and chemicals that cater to the healthcare and industrial needs of the nation.
In addition, the Chemical and Allied Export Promotion
Council of India (CAPEXIL), a non-profit organization created by the
government, has been actively involved in promoting India's chemical trade on a
global scale. CAPEXIL has been instrumental in facilitating export
opportunities for Indian chemical manufacturers, ensuring their products reach
international markets and enhancing India's presence in the global chemical
industry.
All these initiatives reflect the Indian government's
unwavering commitment to bolstering the specialty chemicals industry and
driving its growth. With the support of these state-owned companies and trade
promotion organizations like CAPEXIL, the sector is expected to witness
substantial expansion and contribute significantly to India's economic
development in the coming years.
Specialty chemicals play a critical and indispensable
role in the textile industry. They are essential components used at various
stages of textile production, starting from pre-treatment to finishing. These
chemicals not only enhance the quality, durability, and aesthetic appeal of the
final textile products but also contribute to their functionality and
performance.
In the pre-treatment stage, specialty chemicals are
used to prepare the textile fibers and fabrics for further processing. This
includes processes like desizing, scouring, and bleaching, where enzymes,
surfactants, and other chemical agents are employed to remove impurities,
improve absorbency, and ensure uniform dye uptake.
During the dyeing and printing processes, specialty
chemicals such as dyes and pigments are used to add vibrant and long-lasting
colors to the textiles. These chemicals are carefully selected and formulated
to achieve desired color fastness properties, ensuring that the colors remain
vibrant and do not fade over time.
In the finishing stage, specialty chemicals like
finishing agents are applied to give the textiles specific properties and
desired finishes. This can include adding softness, wrinkle resistance, water
repellency, flame retardancy, or antimicrobial properties to the fabrics. These
finishing agents contribute to the overall performance and functionality of the
textiles, making them more suitable for specific applications and market
demands.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "India Specialty Chemicals Market”
The increasing demand for high-quality textiles in
both domestic and international markets has significantly fueled the need for
specialty chemicals. Today's consumers are more conscious about the textiles
they purchase, seeking superior comfort, longevity, color fastness, and unique
finishes. Achieving these attributes requires the utilization of specialty
chemicals, which offer tailored solutions and impart specific properties to
textiles
Overall, specialty chemicals are vital components in
the textile industry, enabling manufacturers to produce textiles with enhanced
quality, functionality, and aesthetics. They play a crucial role in meeting the
evolving demands of consumers and ensuring the competitiveness of textile
products in the market.
The India Specialty Chemicals Market is segmented into
product type, regional distribution, and company
Based on its product type, the pharmaceutical segment held
the largest market share in the forecast period. One of the key factors driving
the pharmaceutical sector's dominance in the specialty chemicals market is the
robust domestic demand in India. With a large and growing population, the
consumption of pharmaceutical products has witnessed a steady rise. This demand
is further fueled by the rising prevalence of chronic diseases and an aging
population, creating a need for effective pharmaceutical solutions.
India's pharmaceutical industry, known for its
high-quality yet cost-effective pharmaceutical products, has established itself
as one of the largest suppliers of generic drugs worldwide. These products have
found a substantial market not only in developed countries but also in
developing nations, where affordable healthcare solutions are in high demand.
The contribution of the Indian pharmaceutical industry to the country's export
earnings is significant, showcasing the global recognition and trust in the products
manufactured in India.
Based on region, West India segment is expected to
grow during the forecast period.
The presence of numerous well-established and
state-of-the-art research and development facilities in the region has greatly
contributed to fostering innovation in the specialty chemicals sector. These
cutting-edge facilities provide a collaborative environment for companies to
explore and develop advanced and sustainable solutions that address the
evolving needs of various industries. By leveraging the expertise and resources
available, companies are able to push the boundaries of chemical innovation, propelling
the growth of the industry to new heights.
Major companies operating in India Specialty Chemicals
Market are:
- SRF Limited
- Aarti Industries Limited
- Galaxy Surfactants Ltd
- Solvay Pharma India Limited
- Himadri Speciality Chemical Ltd
- Bodal Chemicals Ltd
Download Free Sample Report
Customers can also request for 10% free customization
on this report
“Growing application of specialty chemicals in various
end user industries are key drivers of the specialty chemicals market. Growth
in competitive landscape and presence of well-established companies in the
market who are dedicated to enhance their productivity of specialty chemicals with
every passing year are anticipated to register an impressive growth to India
Specialty Chemicals Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“India Specialty Chemicals Market By
Product Type (Pharmaceuticals, Colorant, Paints, Agrochemicals, Surfactants,
Textile Chemicals, Personal Care, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Specialty Chemicals Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Specialty Chemicals Market.
Contact
TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States- 10170
M: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com