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Slow Growth for Indian Chemicals What to Expect of 2014 for India's Chemical Industry
As per a study by Frost & Sullivan, the commodity and bulk chemicals segment in India is expected to witness slow growth in 2014, while the specialty chemical segment is projected to register considerable growth. Here is an overview of the performance of the Indian chemical industry.
In 2013, the Indian chemical industry earned revenues in the range of US $155-160 billion. It is likely to grow further at a rate of 11-12 per cent in the next two to three years. Though the commodity and bulk chemicals segment is expected to experience slow growth owing to reduced industrial output, the specialty chemicals segment should show considerable growth.
Personal care ingredients and additives, knowledge chemicals like active pharmaceutical ingredients (APIs), paints and coatings, construction and water chemicals etc., are some of the industry verticals that are likely to perform well in 2014. Last year, they witnessed good growth and companies in these segments have been investing and expanding.
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