About Chemicals & Petrochemicals
India ranks 6th in the world and 4th in Asia in chemicals & petrochemicals sector. The market size of the chemical sector in India for the year 2018-19 is estimated to be US$ 178 billion, which is expected to reach US$ 304 billion by 2024-25 at annual growth rate of 9.3%. The production of Total Major Chemicals and Petrochemicals in 2019-20 (upto September 2019) was 13,871 thousand MT. CAGR in production of Total Chemicals and Petrochemicals during the period 2014-15 to 2018-19 is 4.78%. Per capita consumption of chemicals India is 1/10th of world average, and even among developing countries Indian consumption is low. This makes India a very attractive destination to invest and grow. In past two years the absolute consumption of chemicals (Both Petrochemicals and Chemicals) increased by more than 1.2 MM MT. To support and develop downstream industries, government is working towards the implementation of 4 designated Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs). PCPIRs are expected to operate as Cluster in Cluster mode and are aimed at reducing overall capital expenditure by building common infrastructure of utilities, pipelines and ETPs.