Is Indian chemical industry ready for green march?

The Indian chemical industry, currently valued at $ 108 billion, has been growing at a robust rate. With manufacturing landscape shifting to Asia, India, which currently accounts for only 3% share of the global chemical market, has the potential to emerge as one of the major destinations for chemical companies worldwide. But for this to happen, industry will have to improve efficiency and adhere to global environment & quality norms. 

“Sustainable development is critical to foster the growth of the Indian chemical industry. It forms the central foundation for responsible corporate governance,” said Vipul Shah, Chairman, CEO & President, Dow Chemical International Pvt Ltd. He added, “Being an energy intensive industry, which touches various aspects of human life every day, the Indian chemical industry needs global, uniform standards in environmental administration. For maximum impact,sustainability must be central to the company strategy, engrained in the culture and embedded in the reward structure. The organisation should be cognisant of where the barriers are to delivering on the goals and where the strengths are to build on.

Economic growth has been focal point of the policy makers for overall development of the country. While this is true, there has been an increased need to do it in an environmentally benign way. Balancing ecology with economy is the way forward to ensure sustainable development. Globally, the chemical industry has been one of the early adopters of eco-friendly processing by investing in green technologies.

 

R Mukundan, Managing Director, Tata Chemicals Ltd, said, “From being limited to corporate philanthropy, sustainability now is firmly embedded into all the business areas and is one of the important strategic parameters for any business decision. Given the universe we operate in, it becomes imperative that we incorporate processes that are sustainable.”

 

The Five Year Plan document (2012-2017) for the chemical industry stresses on sustainability – particularly resource and environment sustainability. Water, environmental impact, raw materials, safety over lifecycle and energy use are some of the issues grappling the industry. Indian chemical companies will have to invest in innovative solutions to find appropriate answers to these challenges.

Fuelling demand

As per the National Manufacturing Policy, the government aims to increase the share of manufacturing in GDP to at least 25% by 2025 (from current 16%). To achieve this ambitious objective, the Indian chemical industry will have to play a catalytic role.

Chemicals, the growth enablers

Regulatory developments in the end-user industries are also leading to adoption of green initiatives in the Indian chemical industry. K Jayaraman, Executive Director (Operations Consulting), PwC, India, said, “Today, the customer awareness on health consciousness and eco-friendly products has gone up. Manufacturing companies are looking at specialty chemical additives that help in improving the functionality of the product as well as reduce the environmental load either by achieving the same end product in minimum number of steps or consuming less amount of chemicals than before.”

 

Indian chemical industry has begun the journey on the green path and will have to pursue it with innovative solutions in future as well to emerge winner on the global map. 

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Coatings Industry in India Offers Opportunities for Growth

Gyan Research and Analytics Pvt. Ltd. has released a new study of the coatings industry in India that indicates there are many opportunities for growth, due in part to India’s lower per-capita coatings consumption compared to the rest of Asia. The study reports that India is emerging as one of the major participants in the global paints and coatings industry, with a market value of $4.79 billion in 2012 and growing at a CAGR of 13% for the last five years.

The size of the industry in volume terms is 3.1 million metric tons, with decorative coatings at 2.4 million metric tons and industrial coatings at 0.7 million metric tons.

The current per-capita consumption is 2.57 kg, which is far lower than that of global and Asian per-capita consumption of 20 kg and 5 kg, respectively. These numbers present excellent opportunities for growth in the country, with the industry expected to continue with double-digit growth from 2013 to 2017.

The paint industry is expected to grow at a CAGR of 14% to reach over $9 billion by 2017 with per-capita paint consumption expected to increase to over 4 kg.

In India, the decorative coatings market accounts for about 71% while industrial coatings account for the remaining 29%. Both the segments have been showing robust growth in the last few years. The demand in tier II and tier III cities is also growing and, in fact, is growing at a faster rate than the tier I cities.

There is a shift towards the use of organic pigments in premium paints with heavy metal pigments being phased out. Companies that adapt to this trend could see growth in the coatings market in India. Low household consumption of paints in India, compared to other developing regions, offers high growth potential of the market.

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Oil and gas sector 'needs 120,000 new employees'

Baby boomers have been accused of stealing their children’s future, attaining their wealth at the next generation’s expense and leaving young people entering the world of work facing bleak prospects.

But as the previous generation heads for retirement – and aided by changes in the tax regime and our ever greater thirst for energy – there is one industry heading for a jobs boom.

The oil and gas sector needs to recruit 120,000 new employees worldwide over the next decade to avoid a skills shortage, according to PricewaterhouseCoopers research, and companies in the sector are pushing hard to attract employees into the interesting and exciting – not to mention well remunerated – industry.

The sector is well placed to benefit from this employment boom: the 2014 Budget introduced tax breaks that industry experts say is driving record investment in North Sea exploration, estimated to be running at £13bn this year and predicted to rise higher in 2015.

The industry fits in well with the Government’s desire to rebalance the economy – the engineering and science expertise required in the sector is highly exportable – as well as hopes to boost STEM (science, technology, engineering and mathematics) in schools and universities.

There are many ways of breaking into the industry but a good starting point is one of the industry recruitment sites such as rigzone.com oroilcareers.com, offering the chance to find out about the industry and browse the thousands of jobs available.

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ICIS Noida