Chemicals sector set to reach $300bn by 2025

Author: Spencer Ogden
Date posted26/Mar/2018
Author: Spencer Ogden

The chemicals industry across the globe is forecast to reach $300 billion by 2025, according to Chemexcil.

 

“The chemical sector is expected to double to $300 billion by 2025, clocking an annual growth rate of 15-20%. To achieve this, the government is also working on a draft chemical policy that will focus on meeting the rising demand for chemicals and reduce imports,” said chemicals export promotion council (Chemexcil) chairman Satish Wagh. 

 

Recent reports have revealed that the domestic chemical industry is the third largest in Asia and seventh in the world. 

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