Specialty Chemicals, Transforming Tomorrow

The specialty and fine chemicals market in India is expanding rapidly with the growing industrial applications, advanced technology, and government support. These chemicals used in sectors as pharmaceutical, agriculture, automotive, and consumer products are gradually turning into key factors in India’s economic growth. The major factor behind this market is the demand from the pharmaceuticals sector. The specialty chemicals are widely used in drug formulation and production among other uses in India. The pandemic highlighted the importance of having a proper domestic supply chain, pushing more investments and developments in this area. In addition, there is a continued expansion in demand for agrochemicals for the purpose of producing high yielding crops and as an effective means of controlling pests. The specialty chemicals are used in the formation of these superior agricultural products, which in turn, facilitates the market growth.

Technological advancement is another major force driving the market. There are improvements in the enhancement, discovery and production of chemical structures and processes as a result of technology development. Some key developments like green chemistry and biotechnology are not only enhancing the quality of products but also making the Indian specialty chemicals more globalized. Other measures such as Make in India and multiple Production Linked Incentive (PLI) schemes are also helping to promote development. It is important to note that these policies are formulated with the view of strengthening the manufacturing capacity of the domestic industries and minimizing the reliance on imported products; thus, offering a major fillip to the specialty and fine chemicals business.

In the current issue, we introduce you to the top companies in this sector. In this issue, Industry Outlook has identified the select few companies that have done particularly well in this industry with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.

We welcome your feedbacks and suggestion that you may have concerning this special issue.