Project reports on the market are the key factors to consider before entering into any project. Here are the primary points in determining the feasibility of chemical plant projects. The study helps in the collection of information related to the industrial plan and economy in general to determine the probable performance of the project. It explains industrial based projects, external influencers such as legal obligations, and required investment and expected returns. The feasibility study is the study of the market’s pivotal point to determine the viability of an industrial project. How to determine Feasibility Study for Industrial Projects? With India being an emerging economy with high growth rates and a strong domestic demand the chemical industry in India will be one of the most booming industries in the coming years. India’s speciality chemicals market represents around 24% of the total chemical industry Exports of speciality chemicals from India and are poised to grow from US$4 billion in 2007 to US$13 billion in 2013, representing a growth rate of 22%.The speciality chemicals industry in India is expected to grow at a growth rate of 15%, almost double the growth of the global speciality chemicals industry. It will witness a sustained double-digit growth rate in the coming years. The Indian market for petrochemicals will increase four times in the next ten years. In the western region, Gujarat makes the largest contribution to the chemical industry’s production activity. The chemical industry remains concentrated in the western region, with a near 48% share of investment. The remaining 15% comprises a wide range of chemical intermediate and industrial or speciality chemicals which have a market of over Rs 230 billion (including imports of about Rs 15 billion). Petrochemicals, pharmaceuticals, synthetic fibres, fertilizers and pesticide, paints and dyestuffs constitute over 85% of the market. Nonetheless, over a third of the market is controlled by top 10 players. It is spread over some 2000 units, mostly in the small scale sector. The Agro-oriented chemicals like guar gum, starch, citric acid, sorbitol, yeast and others, valued at over Rs 1450 billion, apart from contributing 14% of the industrial sector’s contribution to GDP, industrial chemicals have a 10% share in the overall exports of India. Global chemical companies present in India have benefited from many opportunities as a result of favorable factors such as skilled workers, low manufacturing cost and strong domestic demand. The chemical industry currently produces nearly 70,000 commercial products, ranging from cosmetics and toiletries, to plastics and pesticides.Indian chemical companies have prominence in the global market. The industry is broadly segmented into four major categories-Inorganic Chemicals, Organic Chemicals, petrochemicals based specialities, and agro oriented chemicals and a feasibility study of chemical industrial projects. There is, in fact, hardly any segment where chemicals do not feature. The chemical industry has been linked with almost every other industrial activities starting from food processing to rubber, leather, and textile processing. Over the past ten years, there have been breath-taking changes in the chemical industry, especially in India. It is one of the oldest domestic industries in India, contributing significantly to both the industrial and economic growth. The chemical industry is a highly versatile segment in the overall industrial economy of India.
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