By: ICN Bureau
Last updated : July 20, 2022 8:29 am
The speakers are: Yogesh Kalra, Head - Global Business Creation, Galaxy Surfactants Ltd.; Radhesh R. Welling, Managing Director, Navin Fluorine International Ltd.; Anand Gopaladesikan, Managing Director - India & Vice President - Polymers, Asia, Wacker Chemie and Rupark Sarswat, Chief Executive Officer, India Glycols Ltd.
Indian Chemical News (ICN), the most credible online media platform for Chemicals, Petrochemicals, and Energy sector, is organizing a virtual session on "Speciality Chemicals: On Fast Track" on July 21, 2022 in the second edition of ‘NextGen Chemicals & Petrochemicals Summit 2022’.
The two-day virtual Summit is organised on July 21-22, 2022 and the main theme is "Driving Sustainable Growth." One can register as a delegate for the virtual session by clicking on the link (https://www.indianchemicalnews.com/nextgen-chemical-and-petrochemical-summit-register )
The speakers for the virtual session are: Yogesh Kalra, Head - Global Business Creation, Galaxy Surfactants Ltd.; Radhesh R. Welling, Managing Director, Navin Fluorine International Ltd.; Anand Gopaladesikan, Managing Director - India & Vice President - Polymers, Asia, Wacker Chemie; and Rupark Sarswat, Chief Executive Officer, India Glycols Ltd.. The virtual session is moderated by Pravin Prashant, Editor, Indian Chemical News.
Globally, the Speciality Chemicals market is estimated to grow to US $954 billion by 2027 from US $711 billion in 2019, registering a CAGR of 5% from 2020 - 2027. Asia Pacific, contributed more than one-third of the total market share in 2019, is expected to grow at the highest CAGR of 5.9% from 2020 - 2027 due to rapid industrialization in China, India, and Japan; increased demand for pharmaceutical grade speciality chemicals, oil products, electronics, electronic chemicals, and oilfield chemicals amongst others.
“In India, Speciality Chemicals constitutes around 22% of the total Chemicals and Petrochemicals market. The Speciality Chemicals market is expected to increase at a CAGR of 12.4% from the US $32 billion in 2019 to an estimated US $64 billion by 2025. CRISIL suggests that the Indian speciality chemicals industry will outpace its Chinese counterpart and double its share in the global market to 6% by 2026 from 3-4% in fiscal 2021. The Indian speciality chemicals sector derives almost equal revenue from exports and domestic sales,” Pravin Prashant, Editor, Indian Chemical News, said.
Looking at the growth, the Indian Chemical companies are betting big on Speciality Chemicals as there are a lot of export opportunities however, the sector also faces challenges such as variations in raw material costs and stringent government regulations, Prashant added.
The key discussion points for the Speciality Chemicals session are: Strong domestic demand and export opportunities are growth drivers; Capacity addition, process improvement, and innovation; Manufacturing raw materials to manage shortages and rising input cost; Focus on new and emerging areas; and Cost-competitive manufacturing and technical expertise.