Chemical & Petrochemical

Market size of Chemicals & Petrochemicals sector in India is worth around $178 bn. market is projected to reach $304 bn by 2025. Chemicals industry in India is highly diversified, covering more than 80,000 commercial products. It is broadly classified into Bulk chemicals, Specialty chemicals, Agrochemicals, Petrochemicals, Polymers and Fertilizers. India’s proximity to the Middle East countries which are the world’s source of petrochemicals feedstock and makes for economies of scale. Demand of chemical products is expected to grow at approximately 9% p.a. during 2020-25. Government has initiated various reforms such Public Procurement (Preference to Make in India) -Notifying Chemical & Petrochemical Products in furtherance of the order, Scheme for setting up plastic parks, centres of excellence, Chemicals Promotion and Development Scheme, Proposed New PCPIR Policy 2020–35. ASSOCHAM National Councils on Chemical and Petrochemical is formed with the objective to take regularly take up National and Global issues of prime importance to the interests of its members. It continuously interacts with the Central and State Governments and play an important role in the shaping of various policy formulation.

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