Central to the modern world economy, the Chemical Industry, including petrochemicals and alcohol-based chemicals, has grown at a pace outperforming the overall growth of the economy.

The global chemical market is estimated at approximately USD 1.7 trillion and the Indian Chemical Industry ranks 12th by volume in the world production of chemicals. The industry’s current turnover is about USD 30.8 billion which is 14 per cent of the total manufacturing output of the country. Import and export of chemicals from India in the recent years has increased substantially and the chemical industry in India is poised for explosive growth in the coming years.

The fastest growing areas in the Chemical Industry have been in the manufacture of polymers and they account for around 70% of petrochemicals. Polymers also constitute the largest revenue segment of the Industry at about 33 percent of the basic chemicals dollar value.