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Economic 360 for India: Growth Prospects and Emerging Opportunities in the Chemical Industry
Frost & Sullivan, May 2011, Pages: 148
Economic 360 for India: Growth Prospects and Emerging Opportunities in the Chemical Industry is Frost & Sullivan's Country Industry Forecast service, which provides vital inputs for evaluating the attractiveness of a country and its chemicals industry. Apart from enabling decision makers to assess the impact of non-market forces, it also helps in identifying new market opportunities. This service provides a strong base for preparing contingency plans. In addition, investors can assess industry-specific risk factors as well as conduct a more in-depth micro research.
The surging demand for chemicals in India has catapulted it into the top league of industries that impact the economy of the country. Chemicals has become an integral part of heavy industries and has numerous sub sectors such as petrochemicals, fertilizers, basic chemicals, pesticides, industrial chemicals, and consumer chemicals. Refined oil is the major feedstock for the automotive and energy sector, while the rapidly growing population is leading to an enhanced demand for chemicals (detergents, paints, synthetic polymers). The biggest participants in the global arena are the markets of the European Union, the United States, and Japan. Asia is gradually beginning to stake a claim to this elite group, with India, China, Brazil, the Middle East, and Southeast Asia looking particularly promising. New regulations such as Registration, Evaluation, Authorization and Restriction of Chemical Substances (REACH) are gaining prominence and are compelling industry participants to produce low-toxic and eco-friendly chemicals. The economy and regulations, infrastructure, labor skills and cost, feedstock availability and price, energy cost and environmental pressures play critical roles in the development of the chemicals industry.
India has weathered the economic downturn well and is expected to show robust economic growth in the next seven years. The country is considered an attractive destination for foreign direct investment due to its vast population, strong domestic market, and production cost advantages. Further, the per capita consumption of chemicals in India is significantly lower than in developed countries, indicating that there is ample scope for expansion in the domestic chemicals industry. For instance, given the size of its population and the importance of agriculture in its economy, it is no surprise that India is one of the largest fertilizer producers in the world. Nevertheless, India imports a substantial amount of fertilizers to meet domestic demand. India's petrochemicals industry is one of the fastest growing and is expected to match pace with the country's gross domestic product (GDP) in the next five to seven years. Although the primary focus of the Government is inclusive growth, economic reforms, and national security, it has set up special economic zones (SEZs) to assist the growth of the chemicals industry. Petroleum, Chemical, Petrochemical Investment Regions policy has also been designed to promote investments in the petrochemicals industry in India.
Benefits:
The following benefits are offered by this research:
- Identify New Market Opportunities
The trends of the economic environment of India have been analyzed along with their impact on the chemicals industry. This analysis will provide valuable information to industry participants on opportunities in specific segments of the industry.
- Understand Future Industry Trends
The research service gives an insight into India's chemicals industry, discusses its dependence on the prevailing economic scenario and gauges the future direction of the same. This will enable industry participants to devise appropriate strategies to improve market share.
- Understand Economic Environment
A detailed analysis of the economic framework in India will offer insights into the economic parameters as they exist and the future direction of the same. The performance of these economic indicators forms an important criterion for industry performance.
- Devise Country Entry Strategies
The research service details the incentives provided by the government to attract foreign participation in the industry. In addition, valuable information on the advantages and challenges of the economy of India is discussed. This is particularly useful in devising country entry strategies for industry participants.
- Evaluate Industry Segment Potential
This research service offers detailed coverage on the main segments in the industry as well as both country and industry trends and forecasts for major variables. It is an excellent tool for companies that plan to enter new geographic markets. It will help corporate planners in developing accurate business plans and enhance credibility to planning company resources.
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