How can digitisation reshape the Chemical Industry?
Indeed, in the recent past, the chemical industry has shown continuous growth with increased shipping in international markets. The demand for chemicals is expected to grow further at 9% pa over the next five years. Drawing on this trend, chemical distributors in India may expect an increased ROI in the coming years. India is currently the sixth largest producer of chemicals in the world, and the industry is projected to reach $304 bn by 2025. Basic chemicals and related products fertilisers, varnishes, pharmaceuticals, etc., constitute a significant part of the Indian economy. Major new capacity is expected in the near future in base chemicals. Despite the positive signals, some concerns still stand and are gaining strength. With respect to the overall economic picture, the situation of the industry appears to be unhealthy. The chemical companies have to maintain their competitiveness in the world that is becoming globalised and digitalised. The onus is on the chemical com