The specialty chemicals market in India encompasses a wide range of chemicals that are used in different sectors, including agriculture, automotive, pharmaceuticals, and textiles.
In 2023, the specialty chemicals market in India was valued at INR 5.09 trillion and is expected to reach INR 8.38 trillion by 2029, expanding at a compound annual growth rate (CAGR) of 9.19% during the 2024 - 2029 period. The market for specialty chemicals in India includes the production, research and development, and advancement of various chemical products that are used across sectors such as agrochemicals, automotive, and coatings.
Technological progress, including breakthroughs in chemical compositions and sustainable chemistry, is improving the effectiveness and competitiveness of Indian specialty chemicals.
Porter’s Five Forces Analysis
There are moderate entry barriers stemming from substantial capital investments, regulatory requirements, and the need for specialized expertise. However, creative startups can still discover prospects in specialized markets.
Consumers have significant bargaining power because many suppliers offer similar products, leading to opportunities for price negotiations.
Improved awareness about health and safety is promoting the use of non-toxic, natural components in personal care, cosmetics, and food items, increasing the need for specialty chemicals.
To satisfy customers’ specific demands, businesses are concentrating on developing distinct products that provide unique advantages and features, enhancing their competitive position in the market.
In 2023, the specialty chemicals market in India was valued at INR 5.09 trillion and is expected to reach INR 8.38 trillion by 2029, expanding at a compound annual growth rate (CAGR) of 9.19% during the 2024 - 2029 period. The market for specialty chemicals in India includes the production, research and development, and advancement of various chemical products that are used across sectors such as agrochemicals, automotive, and coatings.
Technological progress, including breakthroughs in chemical compositions and sustainable chemistry, is improving the effectiveness and competitiveness of Indian specialty chemicals.
Porter’s Five Forces Analysis
There are moderate entry barriers stemming from substantial capital investments, regulatory requirements, and the need for specialized expertise. However, creative startups can still discover prospects in specialized markets.
Consumers have significant bargaining power because many suppliers offer similar products, leading to opportunities for price negotiations.
Market drivers:
Increasing consumer interest in eco-friendly products is accelerating the use of sustainable specialty chemicals, which includes the use for making biodegradable plastics and green solvents.Improved awareness about health and safety is promoting the use of non-toxic, natural components in personal care, cosmetics, and food items, increasing the need for specialty chemicals.
Market Trends:
Businesses are progressively providing personalized chemical solutions designed to meet the distinct requirements of sectors like pharmaceuticals, agriculture, and electronics to enhance performance and efficiency.To satisfy customers’ specific demands, businesses are concentrating on developing distinct products that provide unique advantages and features, enhancing their competitive position in the market.
Table of Contents
Chapter 1: Executive SummaryChapter 2: Socio-Economic Indicators
Chapter 3: Introduction
Chapter 4: Market Overview
Chapter 5: Market Influencers
Chapter 6: Market Trends
Chapter 7: Government Initiatives
Chapter 8: Trade Analysis
Chapter 9: Competitive Landscape
Chapter 10: Recent Developments
Chapter 11: Appendix
Companies Mentioned
- Aarti Industries Limited
- Atul Limited
- BASF India Limited
- Bodal Chemicals Limited
- Deepak Nitrite Limited
- Galaxy Surfactants Limited
- PI Industries Limited
- Pidilite Industries Limited
- SRF Limited
- Vinati Organics Limited
