The global chemical industry, estimated at about US$ 3.5 trillion, is amongst the fastest growing sectors of the manufacturing industry.
The chemical industry is an important constituent of the Indian economy. Its size is estimated at around US$ 108 billion, which is equivalent to about 7% of India's GDP. The total investment in the Indian Chemical sector could grow at 15% p.a to reach $290 billion by 2018 which will be around 6% of global industry and will generate approximately 8 to 9 million jobs.
Today, petrochemical products have penetrated the entire spectrum of daily usable goods and cover every sphere of life like clothing, housing, construction, furniture, automobiles, household items, agriculture, horticulture, irrigation, packaging, medical appliances, electronics and electrical etc.