Outlook on specialty chemicals remains stable, with profitability expected to moderate in FY2024, but not trigger an outlook change, it said, adding that the petrochemical and basic chemicals industries are likely to face pressure on operating rates and profitability.
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The production of regular gasoline (91) witnessed a 16.3% increase by the end of November 2023, resulting in an 11% increase in sales.
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In terms of volume, the petrochemical market in India stood at 42.50 million tonnes and is estimated to reach 49.62 million tonnes by 2025, expanding at a compound annual growth rate (CAGR) of 6.14 per cent between FY 2021 and FY 2025.
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