Indian Chemical News is organising a panel discussion on “Specialty Chemicals: Invigorating Growth” during ‘NextGen Chemicals & Petrochemicals Summit 2024’ on July 11, 2024.

The 4th Edition of NextGen Chemicals & Petrochemicals Summit 2024 will be held on July 11-12, 2024 at the Novotel Mumbai International Airport, Mumbai. The theme of this year’s Summit-cum-Conference is "Transforming India into a Global Manufacturing Hub.”

Please register for the Summit by clicking on the link (https://www.indianchemicalnews.com/nextgen-chemical-and-petrochemical-summit-2024/register.php). 

Points to be covered during Specialty Chemicals session are: Focus shifting away from China; Rising global demand; R&D: New molecules, new technology and applications; PLI policy support; low per capita consumption in India, and challenges with respect to distribution, supply chain and storage.

Speakers for the Specialty Chemicals Session during the 4th Edition of NextGen Chemicals & Petrochemicals Summit organised by Indian Chemical News, India's No. 1 portal on Chemical, Petrochemical and Energy, are: Raj Tiwari, CEO - Speciality Chemicals, UPL Ltd.; Anurag Roy, CEO, Astec Lifesciences Ltd.; Vijay Vasudeva, Senior Vice President & Head of Operations, Epigral Ltd.; Koshal Bisen, Head - Growth Office, Indofil Industries Ltd.; Errol Fernandes, Leader Business Creation Europe, Galaxy Surfactants Ltd.; Virender Kumar, Group Marketing Head, Arete Group; and Raj Shroff, Founder, Aarayaa Advisory Services. The moderator of the session is Girishkumar Kadam, Senior Vice President & Group Head, Corporate Sector Ratings, ICRA Ltd.

The Indian chemical industry is valued at US$ 220 billion with specialty chemicals constituting about 18% of this and valued at approximately US$ 38 billion. The specialty chemicals segment is one of the most promising segments that could aid India’s manufacturing capacity. It has the capacity to contribute US$20 billion to India’s exports by 2040.

The emergence of the Indian specialty chemicals market has been driven by cost competitiveness and market-ready products. Cost competitiveness is aided by domestic feedstock availability, capacity utilisation, the scope of tech innovation, and the presence of efficient and skilled labour. Under the specialty chemicals, agrochemicals, construction chemicals, personal and home care, pharmaceuticals, textile chemicals etc. are growing in double-digit.

The Indian specialty chemical segment is forecasted to continue its upward trajectory with an expected 12.4% CAGR, reaching an estimated US$ 64 billion by end-2025. This anticipated growth underscores India’s increasing importance and evolving role within the global specialty chemicals market, setting the stage for increased contribution to the global chemical industry.

Overall, the specialty chemicals industry in India presents numerous opportunities and players can benefit from the sector's growth potential by strategically identifying and investing in the right sub-segments. However, the sector also faces challenges such as variations in raw material costs and stringent government regulations.

The Summit is supported by DCM Shriram Chemicals as principal partner, Somaiya Vidyavihar University as academia partner, Cadmatic as platinum partner and Andhra Pradesh Economic Development Board (APEDB), Govt. of Andhra Pradesh as state partner. 

Gold partners for NextGen Chemicals & Petrochemicals are: Epsilon Carbon, Forbes Marshall, Gharda Chemicals, Indofil Industries, Ingenero, IPCO, Jaaji Technologies, Moglix, PIP, Port of Antwerp - Bruges, RIECO and Re Sustainability. Associate Partners are: HPCL and Nuberg EPC. Supporting partners are: Aarayaa Advisory Services, Archroma, India Glycols and Tata Steel Special Economic Zone and industry association partners are: ACFI, AMAI, CropLife India, Gujarat Chemical Association and PMFAI.