INDIA FLUORINATED ORGANIC COMPOUNDS MARKET ANALYSIS

Market Challenges And Opportunities

Market Opportunities

Initiatives taken by the Indian government across chemical sector

India is a developing market throughout the chemical industry due to improving infrastructure and low cost of the production system. In addition, India offers skilled manpower, cost-effective industrial operations, availability of feedstock, and others. Moreover, the government’s new initiatives such as Make in India is likely to create ample opportunities across chemical market players.

Growth of the Chemical and Petrochemical Industry in India

Growth in the chemical and petrochemical industry in India due to the increasing production of chemicals will favor the market growth of de-aromatized solvent over the forecast period. According to the Invest India, total production of major chemicals and petrochemicals stood at 43.51 lakh tons during 2022-2023, a growth of 5.73% over 2021-2022. Thus, growth in the chemical industry in India is expected to augment the market growth. 

Market Restraints

Increasing use of brominated hydrocarbon in agrochemical and pharmaceutical sectors

However, brominated compounds are used for the API (Active Pharmaceutical Ingredient) formulations. In addition, brominated compounds are widely used during the manufacturing process of pharmaceutical products. These brominated hydrocarbons act as catalysts and decrease the reaction conditions such as pressure or temperature during the drug formation. Thus, applications of brominated hydrocarbon across the agrochemical and pharmaceutical industries are limiting the growth of fluorinated organic compounds.