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ICICI Direct Report
The global chemical industry size is estimated to be around 3.7 trillion pounds (4 trillion dollars), which has grown at a compound annual growth rate of approximately 4% over 2004-18.
In terms of the geographic break up, China is one of the leading players in the global chemical industry with a share of approximately 35%, followed by Europe at approximately 20%, and U.S. at approximately 15%.
India constitutes approximately 3% of the global chemical market.
Over the years, there has been a shift in the overall market share from matured markets such as Europe and the U.S. to China.
Going ahead, we expect China plus one strategy along with increase in intermediate capacity in India, recent corporate tax cuts to be a few key positives to capture the potential deal flows for Indian chemical manufacturers.
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