Chemicals
India's chemicals market, valued at USD 220 billion in 2023, is projected to grow significantly, reaching USD 383 billion by 2030, supported by an 8.1% compound annual growth rate (CAGR) from 2021 to 2030. As the sixth-largest global market for chemicals, India has attracted considerable foreign direct investment (FDI), accumulating USD 21.7 billion from April 2000 to September 2023. The sector benefits from 100% FDI under the automatic route, enhancing investor confidence and driving expansion.
India's Petroleum, Chemical, and Petrochemical Investment Regions (PCPIRs) are expected to bring in USD 420 billion, indicating robust growth potential.
The establishment of institutions such as the Central Institutes of Petrochemicals Engineering & Technology (CIPET) and the Institute of Pesticide Formulation Technology (IPFT) is poised to foster skill development, further supporting industry growth.
The chemicals sector contributes 12% to India's total exports, demonstrating its significance in the global market. Speciality chemicals are forecast to grow at a CAGR of 12% from 2020 to 2025, spurred by innovation and increasing demand. By 2024, the market is expected to add USD 29.7 billion in value, with a CAGR of 3.26% projected through 2029.
Additionally, the number of enterprises in the sector is anticipated to increase to 15,730 by 2024, with employment reaching 1 million, supported by a CAGR of 3.19%. As India positions itself as a competitive player in the global market, sub-sectors such as specialty chemicals, agrochemicals, and petrochemicals are expected to see significant growth
Chemicals Figures
6%
GDP Contribution
1 Million
Total Employment Generated
243,536 Crores
Exports
Chemicals Industry Market Size (US$ Billion)
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