Navigating the Path to Net-zero in the Chemicals Industry

With India aiming to expand chemical industry market size to US $2 Trillion by 2047, Indian Chemical News, the most credible digital media platform for Chemicals, Petrochemicals and allied sectors, brings the Fourth Edition of ‘The most sought-after calendar event of the year,’ for the industry: The NextGen Chemicals & Petrochemicals Summit 2024. The theme of this year’s summit is "Transforming India into a Global Manufacturing Hub.” The event is scheduled on July 11-12, 2024 at the Novotel Mumbai International Airport, Mumbai.

The chemical supply chain landscape has undergone unprecedented challenges in recent years, marked by new levels of complexity, disruptions, and pressure to meet customer demands. The specialty chemicals industry faces the unique challenge of producing lower volumes of high-value products with specific requirements especially in the area of supply chain management.

The Indian Chemicals industry is expected to triple its global market share by 2040* but that does not make it immune to the widespread pressures of increased competition, changes in demand, safety concerns, and sustainability initiatives. Overcoming these challenges is just as complex, requiring plants to optimize assets and processes, maximize production, reduce unplanned downtime, and ensure safe, predictable operations that meet overarching business goals. Join us at this special one-day event, as we explore these pressures and how AVEVA’s connected industrial ecosystem is helping your peers to solve these challenges through digitalization. Reduce time to market with AI-powered design tools and efficient project management. Adapt to changing market demands with agile planning and insightful simulations.

India's Petrochemicals industry is a key contributor to the country's economic growth, as it is closely linked to industries such as agriculture, healthcare, textiles, construction, packaging, automotive, and others. Today, it is one of the fastestgrowing Petrochemicals industries in the world and its growth is dependent on various factors such as government initiatives to promote domestic manufacturing, increasing trend towards eco-f riendly and sustainable products, favorable demographic factors, advancements in technology, and the growing demand for end-use products. Moreover, the increasing focus on R&D and innovation, coupled with investments in infrastructure development, will further fuel the growth of Petrochemicals industry.

Agrochemicals are designed to protect crops from insects, diseases, and weeds. It has been a major contributor in making any country self-reliant in food production. The use of agrochemicals primarily aims to ensure abundant food supply for humans, but it may have a negative impact on soil biological activity and diversity through direct or indirect actions. According to reports, the global agrochemical market size is estimated to grow from US $243.55 billion in 2023 to US $296.32 billion by 2028, at a CAGR of 4%. It is estimated that annual crop losses could double without the use of crop protection products. Food crops must compete with 30,000 species of weeds, 3,000 species of nematode,s and 10,000 species of plant-eating insects. Agrochemicals are the last and one of the key inputs in agriculture for crop protection and better yield.

India's chemicals logistics industry is witnessing phenomenal growth due to rising domestic consumption, increased exports, and the country's favorable geography for freight transportation. India is the third-largest producer of chemicals in Asia and sixth largest in the world, contributing around 3% of India's GDP. The market size of the Indian chemicals industry is expected to grow from US$ 220 billion in 2022 to US$ 800 billion -1 trillion by 2040, reflecting a massive growth opportunity.

The Indian Chemical Industry is projected to grow by 11 to 12 percent during 2021–27 and by 7 to 10 percent during 2027–40, thereby tripling its global market share by 2040. This growth is expected to be driven by the rising domestic consumption. India is expected to account for more than 20 percent of incremental global consumption of chemicals over the next two decades. Domestic demand is expected to rise from $170 billion to $180 billion in 2021 to $850 billion to $1,000 billion by 2040. The chemical industry is a very wide definition of a large group of industries with very different products, from plastics and organic acids to fertilizers, drugs, and pesticides.

Inspiring the journey towards achieving growth, self-reliance and the vision to develop a trillion dollar Chemical and Petrochemical industry in India in less than two decades, Indian Chemical News, the most credible digital media platform for Chemicals, Petrochemicals and allied sectors, brings the 3rd edition of what is now ‘the most sought-after calendar event of the year,’ for the industry: The NextGen Chemicals & Petrochemicals Summit 2023. The theme of this year’s summit is "Innovation, Self-reliance & Sustainability.” The event is scheduled on July 13-14 2023 at Novotel Mumbai International Airport, Mumbai.

Agrochemicals have been a major contributor in making any country self-reliant in food production. I... Read More: https://www.indianchemicalnews.com/webinarpast