China’s Speciality Chemical sector grew at CAGR 13 per cent from 2008 to 2016, growing the size of the sector from US $ 54.2 bn to US $ 143.7 bn during the period. Still robust, the sector is now estimated to grow at CAGR 7 per cent between now and 2020. The solid growth that China witnessed for its Speciality Chemical sector in the last one decade is now shifting to India.

Over the past two decades the Indian chemical industry has gradually evolved from being a basic chemical producer to the higher ends of the value chain. This is especially more true for the faster growing Speciality Chemical sector that has been estimated to grow at a robust 13 per cent year-on-year, according to a report brought out by TATA Strategic Management services recently. Currently pegged at US $ 31.2 bn in 2016, the speciality chemical sector is estimated to be the size of US $ 86.5 bn by 2025.

Furthermore, a recent HIS Markit analysis pegs the size of global speciality chemical at US $ 556 bn in 2016 and further estimates the sector to grow at 3 per cent globally over the next 5 years.