Specialty Chemicals: Retain Their Leading Position
Equity Markets and Specialty Chemical Stocks
Even though the market has been unreliable ever since the pandemic created a tidal wave of disruption, the chemical industry has unquestionably remained resilient and chemical stocks have continued to outperform. Mandar Wagh explains how government initiatives, the China Plus One strategy and India’s proximity to the Middle East would all contribute to further growth in this sector
India’s chemical industry makes a significant economic contribution to the country. Some of the major categories of the chemical industry include bulk chemicals, agrochemicals, petrochemicals, polymers, fertilisers and specialty chemicals. India benefits from economies of scale thanks to its close proximity to the Middle East, the major source of raw materials for petrochemicals. After the United States, Japan and China, India is the world’s fourth-largest producer of agrochemicals and the world’s third-largest consumer of polymers. Except for pharmaceutical products, India ranks eleventh in chemical exports. It supplies around 15-16 per cent of the world’s total dyestuff and dye intermediate production, making it a major global dye supplier.