-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
According to Reuters on November 11, an executive at India's largest refiner Indian Oil Corporation said that India's annual petrochemical consumption will nearly triple to 80 million tons by 2040, forcing the country to either increase petrochemical imports or invest in new petrochemical production facilities
.
A.
A.
Smith, Executive Director of Petrochemicals Business of Indian Oil Corporation S.
Sahney said at a Nov.
10 conference that population growth, social development and economic expansion will increase petrochemical demand, or these are basically the drivers of petrochemical demand
.
As Asia's third-largest economy, India currently consumes between 25 million and 30 million tonnes of petrochemicals annually
.
Per capita consumption of petrochemicals in India is about one-third
of the global average.
Indian refiners have traditionally focused on maximizing gasoline and diesel production
.
India is a net importer of
petrochemicals.
Indian refiners are investing billions of dollars to boost petrochemical capacity to hedge against slowing long-term demand growth for conventional fuels
.
"As gasoline and diesel demand declines, we have to find ways
to produce petrochemicals," Sahney said.
Otherwise, we will face a situation
where refineries operate under non-optimal or sub-optimal conditions.
”
