India Specialty Chemicals Market to Grow at Formidable Rate During Forecast Period
Increasing demand for
specialty chemicals from various end-user industries to drive growth of India
specialty chemicals market
According to
TechSci Research report, “India
Specialty Chemicals Market By Product Type, By Function, Competition
Forecast & Opportunities, 2024” the India specialty chemicals
market is expected to grow at a robust CAGR during the forecast period driven
by growth of domestic end use segments and export. Moreover, low cost labor and
easy availability of raw materials are further driving the market. However,
rising environmental concerns are likely to hamper the growth of the market
during forecast period.
The India
specialty chemicals market is segmented based on product, function, region and
company. Based on product, the market can be fragmented into Agrochemicals, Polymer &
Plastic Additives, Construction Chemicals, Electronic Chemicals, Cleaning
Chemicals, Surfactants, Lubricants & Oil Field Chemicals, Specialty
Coatings, Paint coatings, Paper & Textile Chemicals, Food Additives,
Adhesives & Sealants, Others. Others include Polyethylene Terephthalate
[PET] and Polyvinyl Chloride [PVC]. The food additives and surfactants are anticipated to garner
the largest market share during the forecast period on account of high growth
in packaged food and household care across the country. Moreover, the
construction chemicals and paint coatings are anticipated to grow at a fast
pace during the forecast period owing to the rapid growth of construction
industry in the country.
Vinati Organics
Limited, Omkar Specialty Chemicals Ltd., Tata Chemicals Ltd., Clariant
Chemicals India Ltd., BASF India Ltd., NLC Nalco India Ltd., LANXESS India
Private Limited, Cytec India Specialty Chemicals and Materials Private Limited,
Unitop Chemicals Pvt., Ltd., Environ Speciality Chemicals Pvt. Ltd. and others are some of the
leading players operating in India specialty chemicals market. Companies
operating in the market are using organic strategies such as product launches,
mergers and collaborations to boost their share.
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“India is one of
the fastest growing and largest markets in the APAC region and is expected to
create huge opportunities for the specialty chemicals market. Additionally, the
closure of plants in China owing to environmental concerns has opened doors for
Indian manufacturers to invest further in specialty chemicals, thereby further
fueling growth in the market.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Specialty Chemicals Market By Product
Type, By Function, Competition Forecast &
Opportunities, 2024” 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
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New York – 10017
Tel: +1-646-360-1656
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