Know the top facts of India’s chemical industry in 2019
The global chemical industry has shifted to Asia post stringent environmental regulations that were placed in the EU and other parts of the world. In Asia, China, South Korea, and India have emerged the most preferred destinations for global chemical companies to establish manufacturing bases. China is facing acute environmental concerns shifting the chemical industries away from the populated areas. With the slowdown in China, India is gradually gaining prominence in the global chemical trade. Chemical distributors and suppliers are turning to India’s companies to procure their required materials. India’s chemical industry in 2019 In 2019, India is the third-largest chemical manufacturer in Asia and ranked 7th globally. The present value of India’s chemical market is $163 billion but expected to be double to $300 billion by 2025. The sector is growing at a rate of 8-10% and touching the lives of over 2 million people. The sector is producing 80,000 commercial chemical