OKCHEM at booth #5.87 attracted much attention, and plenty of sellers and buyers showed great interests in our diverse products and services.
OKCHEM India Team attended the three-day event (India Chem 2018) and met 1,614 visitor customers at Hall 1 #C2C, with 60% of buyers, 35% of suppliers, and another 5% of various localized marketing partners.
In September 2018, OKCHEM visited the Indian Chemical Council (ICC) to have a better understanding about the chemical industry in India and discuss the cooperative possibilities in the local market.
On Aug.27, OKCHEM Indian team visited the confederation of Indian Industry (CII) in order to further understand the status of the B2B platforms, the chemical imports and exports, and the cooperative possibilities.
OKCHEM Indian team participated in the India Chemical & Petrochemical Conference (ICPC) 2018 on Sep.5. We discussed and exchanged information on the Indian chemical industry with participants and established friendly contacts with some local chemical companies.
On Sep. 18, 2018, OKCHEM Indian team visited Anshul Life Sciences, a company engaged in the distribution and marketing of high-quality raw materials and special products in various industries, and has numerous partners in China and around the world.
From 27 Feb to 01 Mar 2019, OKCHEM joined hands with Chaozhou Fengye Industrial to be present in the Indian Ceramics Asia 2019, yielding unusually remarkable results, which, not only, caught the eye of other exhibitors, but also of Indian governmental organizations.
OKCHEM team in India held a workshop with the help of the Indian Speciality Chemical Manufacturers' Association (ISCMA). It was been talked the Macro Market of Fine Chemicals in China and India. This workshop got a great success
On April 17th, ChemSpec India 2019 dropped its curtain with complete success. During the exhibition, OKCHEM reached a strategic cooperation with the Asmechem Chamber Of Commerce And Industry Of India.
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Chemical industry is the mainstay of industrial and agricultural development of the country and provides building blocks for several downstream industries such as textiles, papers,paints, soaps, detergents, pharmaceuticals, varnish etc. Covering more than 80,000 products, this industry services large number of end use application industries. In India it is estimated that more than 2 Mn people are employed in this industry. Indian chemical industry comprises of both small scale as well as large scale units. With initiatives like "Make in India" program gaining steam, investments, innovation and infrastructure are going to be the major thrust areas for chemical industry players. The current per capita consumption of chemical products in India is about 1/10th of the world average, indicating that the demand potential is yet to be realized. Moreover, India has a very strong outlook for the key end user industries. Going ahead, it is estimated that the demand of chemical products is expected to grow at ~9% p.a. over the next five years and is pegged at 1.2X GDP growth. Fig. 1: Indian CPC Industry Overview Size and Growth Globally, chemical industry is estimated at $ 4.7 Tn in 2017 it is also driven by demand from end use industries. Indian chemical industry is estimated to be valued at $163 Bn in 2017 and contributes 3.4% to the global chemical industry. It ranks 14th in exports and 8th in imports of chemicals (excluding pharmaceutical products) globally. Net imports have grown at 5.8% between 2014 and 2018 in volume.(Ref.Fig.2) Fig.2: Import-Export Trend of Indian Chemical Industry (In 000MT) Over last year, India's petrochemicals export scenario has considerably improved due to doubling of Ethylene capacity by Reliance Industries. This has not only mitigated import substitutions but helped India to become net exporter of Ethylene. Exports of Benzene and Paraxylene has also substantially grown last year. Production has witnessed 3.7% CAGR between FY14 and FY18. (Ref. Fig.3) Fig.3: Chemiclas and Petrochemicals Consumption Trends in India (In 000MT) Production of Petrochemicals have marginally increased by 1.1% over last year and chemicals have grown by 8%. Production growth in chemicals are mainly driven by products of Chlore-Alkali Industry (Caustic Soda, Soda Ash and Liquid Chlorine). Source: Knowledge Paper-India Chem 2018-FICCI Related Articles: 1. OKCHEM Got Attentions from Indian Government at India Chem 2018 2. An Overview of India’s Agrochemicals 3. An Overview of the Indian Pharmaceutical Industry
Sized at USD 39.5 billion in FY16, the Indian pharmaceutical industry has contributed significantly to global healthcare by ensuring high quality, affordable and accessible medicines around the world. India is also a major exporter of pharmaceuticals to more than 200 countries with US, Europe and Africa accounting for more than 50% of India’s exports of pharmaceuticals. It supplies 50-60% of global demand for many vaccines, 40% of generics in the US and 25% of all the medicines dispensed in the UK. Besides, 60% of global ARV drugs and 30% of the annual UNICEF requirements are supplied by India. On the aspects of the major chemicals, 70% of them are used for acute illness and the other 30% for chronic illness. Generic drugs account for about 75% of the total domestic market for pharmaceuticals. Currently, Anti-infective drugs command the largest share of the Indian pharma market, followed by Cardio vascular & Gastro-intestinal, Respiratory and Vitamins & Minerals. The top 5 segments contribute to nearly 57% of the entire market in 2016. Though India is the third largest pharmaceutical market in the world by volume, the industry has faced several challenges which have impacted the growth. Globally, several factors have had severe impact on export business. These include higher level of customer consolidation, increased competition & number of products approvals, decreased value form new product launches and increased pricing control & protectionism. However, the industry still has grown in value with an average annual growth rate of 6-7% over the last 5 years. And the Indian government has undertaken several policy initiatives for the growth of the pharmaceutical business in India. Some of the measures adopted include rationalization of taxes, providing incentives for setting up manufacturing units through special economic zones and other facilities, providing incentives for higher in-house research and development and improving quality of healthcare infrastructure and availability of medicines at affordable prices. In a nutshell, the Indian pharmaceutical industry must face various challenges in the next few years, it also has many opportunities and will continue to play a vital role in manufacturing various critical, high-quality and low-cost medicines for Indian and global markets. Related Articles: An Overview of India’s Agrochemicals Novartis Announces FDA and EMA Filing Acceptance of Siponimod for Secondary Progressive Multiple Sclerosis (SPMS)
India is the second largest nation with a population of 1.3 Bn, and agriculture is the backbone of its economy which employs more than 50% of the workforce and contributes about 17% of the nation’s GDP. Now, India is a leading exporter of agricultural products, with the total agricultural exports from USD 11.3 Bn in FY10 to USD 33.9 Bn in FY17, and has also become a very important player on the global market, especially for rice, cotton and sugar. Even though India has doubled its yield per hectare in the past decades, it is still facing many challenges like pest attacks which have caused a 25% loss of the global crop output. The consumption of pesticides per hectare in India is 0.6kg, much lower compare to that of China, Japan, USA, France and UK. To ensure an increasing crop output and improve the food security of the nation, the better technology & quality seed, fertilizer, irrigation and crop-protection chemicals are becoming an important roles to enhance the crop productivity. As the fourth largest producer of agrochemicals after USA, Japan and China, the agrochemicals in India is valued at USD 4.1 Bn, and expected to reach USD 8.1 Bn by FY25. Insecticides dominate almost 55% of the domestic crop protection chemicals market with the value about USD 2.3 Bn, also making India become the 13th largest exporter of pesticides globally. In addition to exports to top 8 countries namely USA, Brazil, France, Japan, Australia, Belgium, China and Netherlands which contribute to about 50% of total agrochemical exports, the manufacturers could also explore other countries in South East Asia, Latin America and Africa. Country Wise Export Trends Crop protection chemicals & solutions is a fast developing industry globally open to innovation. Though the application of agrochemicals in India is presently at very low level as compared to global norms, the agrochemical sector has huge potential for growth as it plays a vital role in protecting the crops from pests and increasing the farm productivity. Related Agrochemicals Analysis on okchem.com: REGULATION OF PESTICIDES IN MEXICO Impact of Energy Reform in Fertilizer Market in Mexico