ICN CHEMICAL INDUSTRY OUTLOOK 2021

Indian Chemical News, a credible knowledge and information led media platform in the Chemical Industry, shall be releasing a Compendium on Exploring New Horizons of Growth during India Chem 2021 titled “Chemical Industry Outlook 2021,” an exclusive collection of premium content for CXO level people during India Chem 2021, the largest event of the Chemicals and Petrochemicals industry.


The 11th Biennial International Exhibition & Conference will be jointly organized by the Department of Chemicals and Petrochemicals, Government of India and FICCI. India Chem 2021 is being organised in a hybrid model where the conference will be physically conducted at Hotel Taj Palace, New Delhi and exhibition will be conducted on FICCI Bike Platform virtually. Indian Chemical News is the Official Media Partner for India Chem 2021 to be held from March 17-19, 2021.


Chemical Industry Outlook 2021 will provide Sector Overview on Chemical, Petrochemical, Gas, Hydrogen and Pharma; CXO Perspectives and CXO Interviews from select industry leaders in the Government, Industry, Academia, Industry Associations, R&D Organizations and others. Focus will be also on Emerging Trends in the Chemical vertical. The Compendium shall focus on Innovation, Better Supply Chain Management, Increasing Domestic Demand, Enhancing Global Competitiveness, Green Technologies, Leveraging Exports, Disaster Management, R&D, Digitization, Start-ups and others.

ICN CHEMICAL INDUSTRY OUTLOOK 2021 Highlights

  • Section on Chemical, Petrochemical, Gas, Energy and Pharmaceutical industry
  • Each section will include Overviews, CXO Interviews and Guest Columns
  • Section on Emerging Trends focuses on Digitization, Startup, Green Hydrogen, Electric Vehicle, Responsible Care, Sustainability, Green Chemistry and others
  • Resource Book on Chemical Industry
  • Physical copy to be distributed to key stakeholders
  • Digital copy to be distributed to key stakeholders both global as well as India

Chemical

The outlook is stable as the industry’s recovery is uneven across the globe according to Moody's 2021 outlook for the global chemical industry. Europe is reportedly most at risk, while in China fast demand recovery happened this year and continued growth is expected in 2021. Recovery has stalled in Europe and the Americas following rising coronavirus infection rates and it is expected that chemical demand will be down in the first half of 2021 with the European chemical sector most at risk.

India is the sixth largest producer of chemicals globally and third largest producer in Asia. The country ranks third globally in the production of agro chemicals and contributes around 16 per cent to the global dyestuff and dye intermediates production. The sector covers more than 70,000 commercial products and is projected to reach US $304 bn by 2025. India ranks 14th in export and 8th in import of chemicals (excluding pharmaceutical products) globally.

Petrochemical

Petrochemicals are expected to be the largest driver of world oil demand growth surpassing that of gasoline or diesel by 2030.The outpacing of fuels demand by petrochemicals is mainly due to growing electrification of vehicles and increasing fuel efficiency of new vehicles. Government mandates to increase vehicle fuel efficiency and reduce CO2 emissions are also leading to a more moderate outlook for fuel demand, though short-term regulatory uncertainties remain.

The Indian petrochemical industry is estimated at US $40 billion and is expected to grow by about 12-15% annually over the next five years. The industry provides products to various industries such as Pharmaceuticals, Construction, Agriculture, Textile, Automotive etc.

Gas

Fitch Ratings believes that the global oil and gas (O&G) market will be on the way to recovery in 2021, though the improvements will be moderate and lack certainty. The oil demand is unlikely to recover in full by end-2021 unless there is a quick progress with mass vaccinations against the coronavirus.

The demand for natural gas in India has increased significantly due to its higher availability, development of transmission and distribution infrastructure. In future, the natural gas demand is all set to grow significantly at a CAGR of 6.8% from 242.6 MMSCMD in 2012-13 to 746 MMSCMD in 2029-30. India aims to increase the share of natural gas to 15% of the energy mix by 2030 (PNGRB, 2013) which suggests a doubling of current demand and infrastructure needs, as part of a gas trading hub. India envisages to invest US $60 billion in building gas infrastructure to meet the increased demand.

Energy

In 2021 electricity demand is anticipated to grow by 3% (around 700 TWh), slower than the projected 5.2% real GDP growth. In total, this means global demand would be higher than in 2019. Two-thirds of the additional demand is expected in the Asia Pacific region. Most of the growth is concentrated in China and India, expected to grow by 5.2% (350 TWh) and 3.6% (40 TWh) respectively compared to 2020. Both countries have already recorded significant growth rates towards the end of 2020 compared to 2019 demand.

Pharmaceutical

The global pharmaceutical market is estimated at US $1.2 Tn in 2019 and is expected to expand at a CAGR of 3-6% to US $1.5 - 1.6 Tn by 2024.

India’s domestic pharmaceutical market turnover reached US $20 billion in 2019. It supplies over 50% of the global demand for various vaccines, 40% of the generic demand for the US and 25% of all medicines for the UK. Pharmaceutical export from India reached US $16.3 billion in FY20. The country plans to set up a US $1.3 billion fund to provide a boost to companies to manufacture pharmaceutical ingredients domestically by 2023.

Emerging Trends

The section will cover the latest development in the industry backed by technology, digitalization, sustainability practices, chemical company’s foraying into new territories such as EV, Clean Energy, Green Chemistry and ensuring the feedstock availability.

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