According to an article published in the Business Standards, it seems the chemicals and the petrochemicals industry is witnessing a rapid expansion in India. As per the statement coming from Union Minister of Chemicals & Fertilizers, D.V. Sadananda Gowda while inaugurating the Summit on Global Chemicals & Petrochemicals Manufacturing Hubs in India 2019. He states that

This was further reiterated by Mr. Ajay Kadakia, Chairman, CHEMEXCIL, said, “Indian chemical industry is currently valued at around USD 163 bn and expected to touch USD 325 bn by year 2025. The export performance of CHEMEXCIL’s items for the period April to March, 2019 was USD 19091 million as against USD 15927 million of the corresponding period of last year, registering a growth of around 20%. In the current year, the exports have increased by 0.68% i.e. from USD 10986.44 million in April-October, 2018 to USD 11060.97 million in April-October, 2019.” He further added, “MSME exporters are concerned about existing export incentives and recent Trade Remedy measures initiated on import of basic inputs. Exporters also seek clarity on the proposed RoDTEP scheme and forthcoming Foreign Trade Policy which will auger well for exports."

The government of India adopted the policy in 2007 to set up PCPIRs (Petroleum, Chemicals and Petrochemicals Investment Regions) currently Dahej (Gujarat) is the best location compared to all others which includes Visakhapatnam (Andhra Pradesh), Paradip (Odisha) and Cuddalore (Tamil Nadu). The reasons cited for selecting Dahej among other range from overall infrastructure development to project financing.

Also, there has been great focus on the Indian specialty chemicals transformation and what China is doing now. The following are the key finding from one report which analyses top 33 Chinese chemical players:

According to one June 2019 article from ACS, it claims that the rising business investment will continue to drive U.S. GDP growth, though at slower rates than the previous two years. Growth in consumer spending, while moderating, is also making a positive contribution. GDP is projected to rise by 2.5 percent in 2019, 1.9 percent in 2020 and 1.8 percent in 2021. The chemical industry will be source of strength, with growth of 2.5 percent in 2019 and 3.0 percent in 2020. In fact, chemical industry growth will exceed that of the U.S. economy through 2024.

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