The specialty chemical products industry is expected to remain optimistic
In the first half of 2020, the impact of 2019 coronavirus disease (covid-19) will have a negative impact on the global chemical industry due to the continuous momentum of reversal and the interruption of logistics. However, the chemical industry is one of the most leveraged industries because it returned to normal much earlier than the market expected. As some enterprises have recovered to the level before covid-19, the demand for various special chemical products is growing continuously. With the support of the government's preferential policies, the special chemical products industry is expected to remain optimistic, with a substantial growth in the first half of 2021.
It is clear that China and some countries in the western region are looking forward to reducing the production of specialty chemical products because of its accompanying environmental impact. There is an extreme possibility that the manufacturing units will move to India, providing a vivid possibility for the country to expand its export potential. Therefore, although the professional chemicals industry has the charm of rapid development, there is still room for further growth.
Galaxy surfactants, in its third quarter results report, said it was looking to further expand its portfolio into niche specialty chemical products. Several other specialty chemicals industries, such as himadeli specialty chemicals and fine organic chemicals, also revealed profit growth for amines and several newly added API chemicals, which are expected to report strong figures in the coming quarters. In addition, the total revenue of Balaji amines also increased significantly, with a year-on-year increase of 63%. The company even revealed that the unprecedented growth witnessed in its segments was the result of increased operating leverage, followed by better volume sales from the pharmaceutical industry. The company even said it had started exporting chemicals such as Dida and EDA to China due to changes in various business operations.
According to chemanalyst, "India's specialty chemical industry has inherent advantages in establishing manufacturing bases, but with the support of government policies, a low-risk chemical environment will help new participants expand their share in the global chemical market.
