The global petrochemicals industry has been witnessing a gradual shift. The changing market dynamics in the upstream oil and gas sector are changing the way base chemicals capacities are added and utilized. The choice of feedstock, demand patterns, government directives and capital efficiency paradigms are influencing how regional base chemicals capacity additions are happening and which feedstocks remain or become the most preferred.
Petrochemicals have always been playing a significant role in India’s growth story by contributing in a major way to the Indian economy. Post economic liberalization, Indian petrochemical industry is set to take global demand in its stride. This industry is the backbone to some of the crucial industries which include agriculture, healthcare, textiles, infrastructure and consumer durables.
India has now been ranked sixth among the world's 10 largest manufacturing countries. The petrochemical industry contributes about 30 percent of raw material to the chemical industry which is expected to reach $300 bn by 2025. The petrochemical industry itself is expected to cross US $100 billion by 2021 at a CAGR of 14%.
The main focus of the industry is to plan capacity addition and meet the domestic as well as export demand. The industry needs to be nurtured with the right policies and fiscal support from the government.
The overall outlook for the petrochemical industry in India is more positive than it was in 2020 as several state-owned energy corporations have made investments to boost petrochemical feedstock availability and extend their presence in the downstream derivatives market.
1.Discuss and strategize the way forward and look at the collaborative ways to tap the growth potential.
2.To build a roadmap for the petrochemical industry.
3.To facilitate strong dialogue, sharing of insights and navigating future industry terrains.
Key Discussion Points:
- India’s Refinery Scenario in 2021
- India’s Cracker Scenario in 2021
- Competitive Environment in India’s Petrochemical Sector
- Downstream Derivatives Scenario in 2021
- Future Grass Root Refining and Petrochemical Capacities
- Technology Trends in Petrochemical
- Petrochemical Growth Opportunities in 2021
- Strategic Imperatives for Success in Petrochemical Sector