In the global panorama, the Indian chemical industry emerges as a formidable force, securing the 3rd position in Asia and contributing a substantial 3% to the worldwide chemical production. Notably, it stands as the 6th largest producer and 14th in exports within India's economic landscape.Comprising diverse sectors, ranging from the oil and gas midstream to refining, downstream petrochemicals, and polymers, along with inorganic and organic chemicals, including the realm of specialty chemicals, this industry weaves a tapestry of innovation. It encompasses even the production of vital elements like phosphatic and nitrogenous fertilizers, pivotal for the energy sector's ambitions like green hydrogen via electrolysis.Furthermore, the Indian chemical industry isn't confined merely to its realm; it serves as a wellspring of raw materials for multiple sectors including agrochemicals, pharmaceuticals, textiles, cosmetics, and more. Particularly, the specialty chemicals segment, burgeoning at an unprecedented pace, is poised to contribute a colossal $80 billion, propelling annual sales to an impressive $300 billion by 2025-26.On the horizon of oil refining, a significant expansion looms, as India's crude processing facilities surge from 300 million metric tons per annum to a monumental 450 million metric tons by 2030, unfurling an investment canvas of $27 billion.As the Indian populace swells alongside growing per capita income, the consumption of petrochemicals and polymers steadily ascends, signaling an estimated augmentation of $30 billion from the current turnover of $190 billion.Notably, India's prowess in fertilizer production shines globally, occupying the 3rd rank. An anticipated moderate surge graces the landscape, with increased focus on urea and phosphatic fertilizers projects.In this captivating landscape, the crescendo is reached with the impending surge in the domain of green hydrogen, foreseeing an investment surge of $19 billion by 2030, an echo that resonates well beyond 2050.In essence, the Indian chemical industry is a phoenix rising, promising accelerated growth, heightened GDP contributions, and robust employment opportunities. Mr. Yatinder Pal Singh Suri, a beacon in the sustainable steel realm, resonated this sentiment at the “CII National Mission on WAR AGAINST CORROSION” session, asserting the necessity of safeguarding assets and investing prudently for longevity, with stainless steel as the vanguard.Amid this landscape, the pursuit of corrosion management takes center stage, transitioning from reactive to proactive strategies. The necessity of understanding corrosion economics and integrating material science solutions for a corrosion-free tomorrow is emphasized.As a linchpin to anti-corrosion efforts across sectors, from industry to agriculture and services, a call to arms is sounded. A holistic approach seeks a paradigm shift within organizations, marked by a comprehensive corrosion management framework to preserve assets, armed with awareness, training, and collaborative research.High-temperature processes are identified as a breeding ground for corrosion. Complex units, harboring intricate networks of tubes and concealed bends, demand meticulous material selection and welding support for effective mitigation.Initiating a culture of corrosion management, vested with individual roles and responsibilities, lies at the core. Corrosion management resources must be abundant, backed by technical expertise and comprehensive training. A management review, reflecting commitment to corrosion management systems, ensures alignment with goals and aspirations.The ultimate objective remains the elongation of equipment life, minimizing corrosion losses, and nurturing a sustainable tomorrow. In this intricate dance, the Indian chemical industry emerges as a beacon, fusing growth with sustainability and progress with preservation.
In the global panorama, the Indian chemical industry emerges as a formidable force, securing the 3rd position in Asia and contributing a substantial 3% to the worldwide chemical production. Notably, it stands as the 6th largest producer and 14th in exports within India's economic landscape.Comprising diverse sectors, ranging from the oil and gas midstream to refining, downstream petrochemicals, and polymers, along with inorganic and organic chemicals, including the realm of specialty chemicals, this industry weaves a tapestry of innovation. It encompasses even the production of vital elements like phosphatic and nitrogenous fertilizers, pivotal for the energy sector's ambitions like green hydrogen via electrolysis.Furthermore, the Indian chemical industry isn't confined merely to its realm; it serves as a wellspring of raw materials for multiple sectors including agrochemicals, pharmaceuticals, textiles, cosmetics, and more. Particularly, the specialty chemicals segment, burgeoning at an unprecedented pace, is poised to contribute a colossal $80 billion, propelling annual sales to an impressive $300 billion by 2025-26.On the horizon of oil refining, a significant expansion looms, as India's crude processing facilities surge from 300 million metric tons per annum to a monumental 450 million metric tons by 2030, unfurling an investment canvas of $27 billion.As the Indian populace swells alongside growing per capita income, the consumption of petrochemicals and polymers steadily ascends, signaling an estimated augmentation of $30 billion from the current turnover of $190 billion.Notably, India's prowess in fertilizer production shines globally, occupying the 3rd rank. An anticipated moderate surge graces the landscape, with increased focus on urea and phosphatic fertilizers projects.In this captivating landscape, the crescendo is reached with the impending surge in the domain of green hydrogen, foreseeing an investment surge of $19 billion by 2030, an echo that resonates well beyond 2050.In essence, the Indian chemical industry is a phoenix rising, promising accelerated growth, heightened GDP contributions, and robust employment opportunities. Mr. Yatinder Pal Singh Suri, a beacon in the sustainable steel realm, resonated this sentiment at the “CII National Mission on WAR AGAINST CORROSION” session, asserting the necessity of safeguarding assets and investing prudently for longevity, with stainless steel as the vanguard.Amid this landscape, the pursuit of corrosion management takes center stage, transitioning from reactive to proactive strategies. The necessity of understanding corrosion economics and integrating material science solutions for a corrosion-free tomorrow is emphasized.As a linchpin to anti-corrosion efforts across sectors, from industry to agriculture and services, a call to arms is sounded. A holistic approach seeks a paradigm shift within organizations, marked by a comprehensive corrosion management framework to preserve assets, armed with awareness, training, and collaborative research.High-temperature processes are identified as a breeding ground for corrosion. Complex units, harboring intricate networks of tubes and concealed bends, demand meticulous material selection and welding support for effective mitigation.Initiating a culture of corrosion management, vested with individual roles and responsibilities, lies at the core. Corrosion management resources must be abundant, backed by technical expertise and comprehensive training. A management review, reflecting commitment to corrosion management systems, ensures alignment with goals and aspirations.The ultimate objective remains the elongation of equipment life, minimizing corrosion losses, and nurturing a sustainable tomorrow. In this intricate dance, the Indian chemical industry emerges as a beacon, fusing growth with sustainability and progress with preservation.
