Published on : Nov 20, 2019
Specialty chemicals improve the manufacturing process and the end products to provide greater profit. They are often made for specialized use and have high value with low volume. They are sometimes referred as performance chemicals and value-added chemicals.
Specialty chemicals market has gained significance in India owing to the increasing demand from various sectors including textile, packaged food, household care, consumer durable, real estate, personal care, automobile and construction. The specialty market in India was assessed to be INR 2,083Bn in the year 2017 and is anticipated to grow at ?10.7% CAGR by the end of 2023. The major reason behind this rapid growth in India is shutdown of Chinese companies owing to their negative environmental impact. This created shortage of supply which was filled in by specialty chemical’s manufacturing in India.
Cheap labor encourages business opportunities
Huge segment of Indian population is technically skilled. It was estimated that in 2016, 15.098% of the total graduates in various technical streams such as science, engineering, technology and math were from India. This large talent pool makes India lucrative region for production. Moreover, the cheap unskilled labor in India also encourages business activities. Skilled workforce along with unskilled labor boost specialty chemicals market in India.
Although, Indian specialty chemicals market is growing fast, only few market players hold international level competitiveness which results in low revenue and less sales in specialty chemicals market. Cyclicality offered by different sectors such as textile manufacturing hampers growth of small specialty chemicals manufacturers in India.
Major companies profiled in specialty chemical market in India include Aarti Industries Limited, Deepak Nitrite Limited, Meghmani Organics Limited, SRF Limited, Sunshield Chemicals Limited, Bodal Chemical Limited and NOCIL Limited.
Specialty chemical market in India: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Specialty chemical market in India. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Specialty chemical market in India. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on specialty chemicals market in India.
An insightful and deep-dive assessment of the competitive assessment of the Specialty chemical market in India pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Specialty chemical market in India. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Specialty chemical market in India: Research Methodology
Primary sources and secondary sources propel intelligence report on Specialty chemical market in India that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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