India Specialty & Fine Chemicals Market Size, Share & Trends Analysis Report By Product (Specialty Polymer, Electronic Chemicals, Institutional & Industrial Cleaners), And Segment Forecasts, 2023 - 2030

Report Overview

TheIndia specialty & fine chemicals market sizewas valued atUSD 46.66 billion in 2022and is projected to grow at a compound annual growth rate (CAGR) of 9.3% from 2023 to 2030. The easy availability of raw materials required to produce various specialty & fine chemicals, along with the low cost of production and huge availability of workforce, is driving the market growth in the country.

The market witnesses fierce competition due to the presence of numerous international manufacturers such as Evonik Industries AG, Clariant AG, LANXESS, Solvay, The Lubrizol Corporation, BASF SE, and DuPont, along with a few domestic manufacturers such as Aarti Industries Ltd., Jeevan Chemicals Private Limited, Organo Fine Chemicals, Paragon Fine and Specialty Chemicals Pvt. Ltd., and Atul Ltd.

Specialty chemicals consist of products that are of high value but are produced in small volumes. Such products are sold globally based on their functionalities. Fine chemicals are generally used as starting materials for specialty chemicals, especially biopharmaceutical and pharmaceutical products. They are produced and used according to required special applications. Moreover, these products are pressure and temperature sensitive. As such, the production process and the storage conditions of fine chemicals are to be adhered to accordingly.

Specialty chemicals play an important role as raw materials in the production of final products such as paints & coatings, personal care & cosmetics, flavors & fragrances, paper & pulp, and home & industrial surfactants, among others. In other words, these are majorly intermediate products. Some of the most used products in the market are adhesives, food & feed additives, rubber processing additives, and fuel additives, to name a few.

These products are also known as effect chemicals as they are majorly employed based on their functionalities. Moreover, these products come in diverse formulations that make it easy to distinguish their different functions. The interaction between the chemical and physical characteristics of constituents that are used in production has an impact on the effectiveness of these products in different working conditions.

Fine chemicals, on the other hand, are pure, single but complex chemical substances. They are produced in limited volumes in various multifunctional manufacturing facilities. These production facilities use multi-step batch processing methods to get the desired products. These products are used in a variety of end-use applications such as biotechnology and drug development. They are used in the development of products that increase the healthy life expectancy of the masses.

The market is expected to grow significantly in the coming years, owing to the rising population in the country, rapid ongoing industrialization, increasing chemical demand, and flourishing end-use industries in regions such as Europe, Asia Pacific, and North America. The leading manufacturers in India are BASF SE, Dow, Evonik Industries AG, Solvay, Tosoh Corporation, and Atul, among others.

The Asia Pacific region accounts for the largest market share globally for these products. The growth is attributed to the extensive presence of companies manufacturing them on a large scale, especially in countries such as India and China. AJ Chemicals, Atul, Finornic Chemicals, Karnataka Aromas, Para Fine Chem Industries, and Sami-Sabinsa Group are some of the leading manufacturers in the country.

Moreover, the penetration of these products in India is high, owing to the presence of several mature end-use industries in the country. For instance, India is among the major automotive manufacturing countries in the Asia Pacific. The growing utilization of fibers, sealants, paints, and adhesives in the automotive industry of the country is expected to fuel market growth in India in the coming years.

Product Insights

机构和工业吸尘器段勒d the market with a revenue share of 9.19% in 2022. This is attributable to the rising public concerns over cleanliness and hygiene in India, which are anticipated to further increase in the coming years. As a result, institutions in India are expected to increasingly adopt regular and intensive cleaning practices.

The consumption of surfactants is the highest in India for the development of industrial & institutional cleaners. They are used in general-purpose, commercial floor, and surface cleaning applications. Industrial & institutional cleaners offer ease of use, high cleaning efficiency, increased hygiene, and enhanced technical performance, while also ensuring food safety. The rising requirement for eco-friendly, effective, and less labor-intensive cleaning products is fueling the demand for industrial & institutional cleaners in India.

Plastics are highly favored for manufacturing fast-moving products and goods. This increases the demand for specialty polymers, as they have properties like plastics. Most plastic manufacturers prefer the development of multi-functional products that have widespread industrial applications. For instance, Anshika Polysurf Limited has developed ingredients that are used in paints & coatings, textiles, packaging, paper & pulp, and flocking industries. Thus, the demand for these polymers in India is poised to grow with their rising penetration in major applications in several end-use industries.

Key Companies & Market Share Insights

The India specialty & fine chemicals market is highly competitive in nature, owing to the presence of multinational manufacturing companies like Dow, BASF SE, DuPont, Atul Ltd., Akzo Nobel N.V., and many others. These companies undertake various strategic initiatives to establish their stronghold on the Indian market. For example, in January 2023, Alkyl Amines Chemicals Limited announced its plans to set up a manufacturing plant for new specialty chemicals at Kurkumbh, Maharashtra, and Dahej, Gujarat.

Many companies are expanding their production capacities to cater to the increasing demand from end-user industries such as automotive, pharmaceuticals, construction, cosmetics, and others. According to IBEF, the Indian specialty chemicals industry is poised to grow at a high rate, owing to the presence of multiple manufacturing companies like Aarti Industries Ltd., Atul Ltd., and Grasim Industries, among others. Some of the prominent players in the India specialty & fine chemicals market include:

• Akzo Nobel N.V.

• Albemarle Corporation

• Baker Hughes, a GE company LLC

• BASF SE

• Buckman

• Chr. Hansen Holding A/S

• Clariant AG

• Cortec Corporation

• Croda International

• Ecolab

• Evonik Industries AG

• DuPont

• LANXESS

• Nouryon

• SNF Group

• Solenis

• Solvay S.A.

• SUEZ

• Dow

• The Lubrizol Corporation

• Veolia

• Paragon Fine and Specialty Chemical Pvt. Ltd.

• Organo Fine Chemicals

• Lifechem Pharma

• Atul Ltd.

• Infinity Specialty Chemicals

• Jeevan Chemicals Private Limited

• Sami-Sabinsa Group

• Satol Chemicals

India Specialty & Fine Chemicals Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 49.55 billion
Revenue forecast in 2030	USD 95.15 billion
Growth rate	CAGR of 9.3% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Revenue in USD billion and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Product
Country scope	India
Key companies profiled	Akzo Nobel N.V.; Albemarle Corporation; Baker Hughes, a GE company LLC.; BASF SE; Buckman; Chr. Hansen Holding A/S; Clariant AG; Cortec Corporation; Croda International; Ecolab; Evonik Industries AG; DuPont; LANXESS; Nouryon; SNF Group; Solenis; Solvay S.A.; SUEZ; Dow; The Lubrizol Corporation; Veolia; Paragon Fine and Specialty Chemical Pvt. Ltd.; Organo Fine Chemicals; Lifechem Pharma; Atul Ltd.; Infinity Specialty Chemicals; Jeevan Chemicals Private Limited; Sami-Sabinsa Group; Satol Chemicals
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

印度专业和精细化学品赛格市场报告mentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the India specialty & fine chemicals market report based on product:

• Product Outlook (Revenue, USD Billion, 2018 - 2030)

  • Specialty Polymers

  • Institutional & Industrial Cleaners

  • Electronic Chemicals

  • Rubber Processing Chemicals

  • Flavors & Fragrances

  • Construction Chemicals

  • Food & Feed Additives

  • Cosmetic Chemicals

  • Oilfield Chemicals

  • Mining Chemicals

  • Pharmaceutical & Nutraceutical Additives

  • Plastic Additives

  • Printing Inks

  • CASE

  • Specialty & Pulp Chemicals

  • Specialty Textile Chemicals

  • Catalysts

  • Water Treatment Chemicals

  • Corrosion Inhibitors

  • Flame Retardants

  • Other Products