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The size of the global chemical industry is estimated at The chemical industry is a key contributor to the
approximately USD 2.4 trillion in 2002. The industry is world economy. It is a knowledge-based industry
currently under-performing and is in the trough of the with significant investments in R&D. The industry
business cycle. Some of the emerging trends of the global supplies to virtually all sectors of the economy and
chemical industry that can be leveraged for growth are: produces more than 80,000 products.
consolidation to leverage economies of scale in the Basic own largest customer and accounts for
and Knowledge segments; approximately 33 per cent of the consumption. In
increasing focus on core businesses, resulting in most cases, Basic chemicals undergo several
diversified chemical and multi-product companies processing stages to be converted into downstream
divesting businesses or exiting non-core product chemicals. These in turn are used for industrial
lines; applications, agriculture, or directly for consumer
increasing investments in R&D (especially in the Specialty auxiliary materials such as adhesives, unprocessed
and Knowledge segments) to gain competitive advantage; plastics, dyes and fertilisers, while uses within the
The chemical industry is a key contributor to the world economy. It is a knowledge-based industry with significant investments
in R&D. The industry supplies to virtually all sectors of the economy and produces more than 80,000 products.
INDIAN SCENARIO
GLOBAL TREND