Specialty Chemicals Market In India 2024
                     Specialty Chemicals Market In 
India 2024
Published on :19 Jan 2023
Report Overview
Over the past few years, the specialty chemicals market in India has been flourishing, 
owing to the rise in demand from various end-user industries. The specialty chemicals 
market in India was valued at INR 2,356.92 Bn in FY 2018 and is expected to reach INR 
4,527.36 Bn by FY 2024, expanding at a compound annual growth rate (CAGR) of ~11.9% 
during the FY 2019-FY 2024 period. Unlike basic chemicals, the price of specialty chemicals 
is determined depending on their unique features and utilities rather than composition. 
Major players operating in the market include Aarti Industries Limited, BASF India Limited, 
Deepak Nitrite Limited, PI Industries Limited, and SRF Limited.
Market segment insights
In FY 2019, the colorants segment held the largest market share of ~27%, followed by the 
paints and coatings (~25%), and agrochemicals (~14%) segments. The demand for 
colorants picked up due to the growth of the textile and automobile industries, as well the 
real estate market, both within and outside India. The Indian automobile industry 
accounts for the highest demand for paints and coatings. The growth of agrochemicals 
production can be attributed to the rising demand of high-yielding seeds and crops among 
farmers, in order to fulfil the growing requirement of food across the country.
Among the major segments of the Indian specialty chemicals market, the water treatment 
chemical segment is expected to experience the fastest year-on-year growth of ~14.63% 
during the FY 2016-FY 2024 period. 
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Table Of Contents 
• Chapter 1: Executive summary
• Chapter 2: Socio-economic indicators
• Chapter 3: Introduction
• Chapter 4: Market overview
• Chapter 5: Market segmentation
• Chapter 6: Trade analysis
• Chapter 7: Market influencers
• Chapter 8: Competitive landscape
• Chapter 9: Appendix
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Market Size
Expected to reach
$4,527.36 billion INR
by the end of 
2018 Forecast year 2024
Base year
CAGR 11.9% (2018 - 2024)
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