Frost & Sullivan in partnership with ICC
Indian Chemical Industry finds Frost & Sullivan Study
Frost & Sullivan in Knowledge Partnership with ICC for its У7th Annual India Chemical Industry Outlook ConferenceФ to be held on March 06-07, 2014 at the Taj Lands End, Mumbai
The Chemicals Sector has an exciting event to look forward to this year, as Indian Chemicals Council (ICC) and Frost & Sullivan gear up to host “7th Annual India Chemical Industry Outlook Conference” from March 06 - 07, 2014, at the Taj Lands End, Mumbai. Frost & Sullivan is the Knowledge Partner for this 7thedition of the event hosted by ICC.
In this edition, eminent speakers and dignitaries will provide inputs on the challenges and opportunities in the chemicals and materials space in context to the global chemicals and materials industry. The event will also seek to provide an understanding of the megatrends, technology and innovation impacting the industry, and the role of various stakeholders for leveraging these opportunities. Vishnu Shankar, Associate Director, Chemicals, Materials & Foods Practice, Frost & Sullivan states, “Exciting times lie ahead for the Indian chemical industry vis-à-vis what's happening around the world. Shale gas developments in North America, major non-oil and gas diversification drives in the Middle East, expanding chemical capacity in China, etc., are just some of the major global developments that Indian manufacturers have to be aware of as they plan their growth strategies over the next decade. We believe that a summit of this nature not only brings the best minds under one roof, but also provides a platform where the initial seeds can be sown towards devising strategies to increase India’s share from the current 5 percent that it holds today in the global chemical industry.”
As Knowledge Partners, Frost & Sullivan, besides playing an advisory role on the entire program structure and the theme, will also present a Whitepaper titled The Indian chemical industry is currently at US $136 Billion approximately, and is likely to grow at a compound annual growth rate of 10-12 percent over the next five years. Over the last decade, the Indian chemical industry has strengthened its competitiveness in agrochemicals and pharmaceuticals segments, becoming one of the major exporters for these segments, globally. The industry also witnessed increased investments in the specialty sector, which is poised to be the fastest growing segment in India.
Domestic growth in chemicals industry will be driven by increase in consumption and high growth in the end-user industries, where per capita consumption presently is low. Key end-user industries such as construction, automotive, packaging, and electronics are expected to drive demand immensely. Construction is likely to grow at 12 percent, packaging and electronics at around 13 percent, rendering a promising growth of over 12 percent to the chemicals demand. Regulatory compliances and sustainable practices will also aid the Indian industry to become a key manufacturing hub for chemicals on the global map in the future. Indigenous innovation will play an important role in making the industry competitive vis-à-vis international companies. The Frost & Sullivan whitepaper will focus on emerging markets, and will have an overview and key characteristics of the Indian chemical industry, its key segments - Base Chemicals, Agrochemicals, Specialty Chemicals, and the Mega Trends impacting the industry.