Solar Thermal Calculator

Chemical

Preamble

The chemical industry of India is a major contributor to the Indian economy, contributing 7% of the country's Gross Domestic Product (GDP). India's chemical industry ranks as sixth largest in world, and third in Asia. The value of the chemical industry in India was estimated at 100 billion dollars in 2019.[1] The chemical industry of India generates employment for five million people.[2]

The Indian chemical industry produces 80,000 different chemical products. India was also the third largest producer of plastic in 2019. As of September 2019, the alkali chemical industry produced 71% of all chemicals produced in India.[3]

India's chemical industry accounts about 14% of production in Indian industries.[4]

Business Opportunity

The Indian chemicals industry stood at US$ 178 billion in 2019 and is expected to reach US$ 304 billion by 2025 registering a CAGR of 9.3%. The demand for chemicals is expected to expand by 9% per annum by 2025. The chemical industry is expected to contribute US$ 300 billion to India’s GDP by 2025.
An investment of Rs. 8 lakh crore (US$ 107.38 billion) is estimated in the Indian chemicals and petrochemicals sector by 2025. Chemical production reached 903,002 MT in December 2021, while petrochemical production reached 1,877,907 MT. In December 2021, production levels of various chemicals were as follows: Soda Ash: 257,199 MT, Caustic Soda: 277,638 MT, Liquid Chlorine: 190,492 MT, Formaldehyde: 22,794 MT and Pesticides and Insecticides: 22,110 MT.
The specialty chemicals constitute 22% of the total chemicals and petrochemicals market in India. The demand for specialty chemicals is expected to rise at a 12% CAGR in 2019-22. Indian manufacturers have recorded a CAGR of 11% in revenue between FY15 and FY21, increasing India’s share in the global specialty chemicals market to 4% from 3%, according to the Crisil report. A revival in domestic demand and robust exports will spur a 50% YoY increase in the capex of specialty chemicals manufacturers in FY22 to Rs. 6,000-6,200 crore (US$ 815-842 million). From April 2021 to February 2022, exports of organic & inorganic chemicals increased 33.75% YoY to reach US$ 26.48 billion. Revenue growth is likely to be 19-20% YoY in FY22, up from 9-10% in FY21, driven by recovery in domestic demand and higher realisations owing to rising crude oil prices and better exports.

Solar Thermal Interface Processes for Chemical Processes.