The chemical industry stalwarts will be discussing the growth potential of Speciality Chemicals at the ‘NextGen Chemicals and Petrochemicals Summit 2021’ being organized by Indian Chemical News from 7-8 October, 2021. 

Titled as ‘Specialty Chemicals: Expanding Its Horizon’, the opening panel discussion on the day two of the virtual summit will witness a free flow of deep insights on the subject. The main theme of the event is "Moving in the big league." 

Please register as a delegate for the NextGen Chemicals & Petrochemicals Summit 2021 by clicking on the link.  

The speakers on the panel are: Vinati Saraf Mutreja, MD & CEO, Vinati Organics Ltd; Adnan Ahmad, VC & MD, Clariant India; M. P. Aggarwal, Chief Promoter, Sajjan India Ltd; Shohab Rais, COO-Indian Chemical Business, Tata Chemicals Ltd; Rahul Tikoo, Managing Director - South Asia, Huntsman Corporation; and Yogesh Kalra, Head - Global Business Creation, Galaxy Surfactants Ltd. The session will be moderated by Amit Gandhi, Managing Director & Partner, Boston Consulting Group. 

The discussion will focus on topics such as leveraging India's cost advantage by investing in production for exports and meeting local requirements; setting up high growth aspirations; investing in developing the Indian market; developing a special business model; and preparing for mergers & acquisitions. 

Indian specialty chemical industry is currently valued at US $32 billion and is expected to reach US $65 billion by FY25. This segment constitutes about 18% of the total chemical industry in India. The industry's growth is mainly driven by consumption growth and export opportunity. The Indian specialty chemicals industry has grown with a CAGR of around 11% from 2014-2019 and is expected to grow with a 12% CAGR in the next 5 years.

 Currently, China constitutes 20 percent of the global specialty chemical industry ($800 billion), even a 5 percent shift in market share from China to India can translate into an US $8 billion opportunity for the Indian specialty chemical companies. This can be easily achievable as the closures of many chemical units in China due to stricter environmental norms have affected the supply chain for many global players. This has prompted them to look for alternative sources.  

Moreover, the production cost of Chinese chemical companies has also gone up due to increase in pollution control norms and this has narrowed down the cost differential between Indian and Chinese companies, to a certain extent. Thus, India can become another source of a Specialty chemical manufacturing hub. 

India’s share in the global specialty chemical markets stands at a meager 3%, creating significant scope for growth. Also, some of the favourable scenarios emerging for the Indian specialty chemical segment are: domestic availability of petrochemical intermediates, increasing capital expenditure incurred for expanding portfolio of value-added/customized products, backward integration and increasing R&D spends to enter into new age products and new chemistry. 

The idea behind ‘NextGen Chemicals & Petrochemicals Summit 2021’ is to provide a premier forum for the high quality deliberations. Apart from offering insights from who’s who of the chemical and petrochemical industry, it will provide ample networking opportunities with industry experts and solution providers. With interactive branding opportunities available throughout the platform, partners can connect with their target audience from anywhere in the world. The participants can network with key decision makers from the chemical and petrochemical industry all under one roof with participation from CMDs, CEOs, MDs, and government officials. 

The summit is supported by the leading names in the industry. Among the platinum partners are: AspenTech, Trend Miner, Elliot Group, and Tridiagonal Solutions. Featured as the gold partners of the event are: GPC, Ingenero, Durr, Evonik, Rieco, Premier Tech, and Agilent Technologies. Among the associate partners are Meghmani Finechem, Honeywell, Huntsman, Solvay, Aarti Industries, Sajjan India, Godavari Biorefineries, and Carbanio. The industry partners of the event include AMAI, PMFAI, and CCFI. 

Register now by clicking here to attend India's largest event on chemical, petrochemical and pharma industry.