Top Speciality Chemical Companies in India

Specialty chemicals are chemical substances that produce a wide range of effects on which many other industries depend. They are substances that are used because of their performance or function. As a result, in addition to “effect” chemicals, they are also known as “performance” chemicals or “formulation” chemicals.

They might be single molecules or molecular combinations known as formulations. The physical and chemical properties of single molecules or formulated mixtures of molecules, as well as the composition of the mixtures, have an impact on the performance of end product.

Adhesives, agrichemicals, cleaning products, colours, cosmetic additives, construction chemicals, elastomers, flavours, food additives, fragrances, industrial gases, lubricants, paints, polymers, surfactants, and textile auxiliaries are some examples of specialty chemicals. Other industry sectors rely heavily on such products, including automotive, aerospace, food, cosmetics, agriculture, manufacturing, and textiles.

India’s chemicals industry, worth USD 180 billion in 2019, is one of the country’s bright spots in the manufacturing sector. The specialty chemicals market, worth USD 32 billion in 2019, accounts for approximately 18% of India’s entire chemical industry. It has consistently grown faster than the total chemicals business, with a CAGR of 11% between 2014 and 2019. This expansion has been driven by an increase in domestic demand from end-user categories, as well as robust export growth.

Following is the list of the top speciality chemical companies in India by sales revenue.

SRF

SRF Ltd is among the top speciality chemical companies in India based in Gujarat which is also into packaging and textile business.
The company’s chemicals business consists of:
- Specialty Chemicals division – produces active, non-active advanced intermediates used in agrochemicals and pharmaceutical industries. It also provides custom research & synthesis for major players in the agrochemicals and pharma sector.
- Fluorochemicals division – Global-scale fully integrated manufacture of refrigerants & pharma propellants and industrial chemicals. It also manufactures ozone-friendly refrigerants in India. These have application in room air-conditioners, pharma, automobile air-conditioners, refrigerators and chillers.
Plants in Dahej and Bhiwadi located in Gujarat and Rajasthan respectively.
SRF is a market leader in most of its business segments in India and also commands a significant global presence in some of its businesses, with operations in four countries namely, India, Thailand and South Africa and Hungary.
The company has a revenue of Rs 145.17 billion with Rs 22.0 billion PAT for the FY 2021-22.

Pidilite

Pidilite is among the top speciality chemicals company in India by volume and sales. It makes adhesives & sealants, construction & paint chemicals, art & craft materials and pigment & preparations.
The company’s consumer products business contributes ~80% of the sales followed by B2B products with ~20%. The company also has its presence overseas in the Americas, Middle East & Africa and Asia (other than India).
Adhesive & sealants is the largest business segment of the company. Furthermore, the adhesive segment has a 70% market share in the country. Brand Fevicol is the country’s most popular adhesive brands. Along with Fevicol the company also has other trusted brands like M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Araldite, Araldite Karpenter and Araseal.
For the FY 2021-22, Pidilite’s revenue was Rs 114.7 billion and its PAT was Rs 12.98 billion.

Aarti Industries

Aarti Industries Limited (AIL) is a leading Indian manufacturer of specialty chemicals and pharmaceuticals. It is based in Gujarat with 21 manufacturing plants.
The company manufactures chemicals used in the downstream manufacturing of pharmaceuticals, agrochemicals, polymers, additives, surfactants, pigments and dyes.
Aarti Industries has two product segments:
- Chemicals – Benzene derivatives such as 2 3-DCNB, 1 2 4-TCB, 3 4-DCNB, 1 2 3-TCB etc. and Toluene derivatives such as NEMT, DEMT, DEPT etc.
- Pharmaceuticals – APIs, intermediates and xanthine derivatives.
The company is also involved in small molecule Contract Development and Manufacturing Services (CDMS).
Around 44% of your Company’s revenue is contributed through exports (FY2021-22).
The company has a revenue of Rs 74.26 billion with Rs 12.26 billion PAT for the FY 2021-22.

PI Industries

PI Industries is one of the top speciality chemical companies in India which isnto manufacturing of agrochemicals. It is involved in the manufacture and sale of agrochemical formulations viz., insecticides, herbicides and fungicides. The company also produces few specialty products. The company synthesizes active ingredients that are used in its agrochemical formulations captively.
The company is also into services business of R&D and CSM (custom synthesis and manufacturing) of active ingredients and chemical intermediates.
The company has three operating segments: Active Ingredients and Intermediates, Formulations and Others. Active Ingredients and Intermediates constitute 78% of the company’s revenue followed by formulations with 20%.
Awkira, Brofreya and PB Knot are its top selling formulations.
The company also has its market overseas in North America, Europe, Asia (other than India) and rest of the world.
For the FY 2021-22, PI Industries’ revenue was Rs 60.64 billion and its PAT was Rs 10.24 billion.

Atul Ltd

Atul Limited is another large chemical company headquartered in Gujarat. The company is into manufacture and sale of specialty chemicals, fine chemicals and polymers. Atul manufactures 900 products and 400 formulations and owns 140 retail brands.
The company has two business segments: Life Science Chemicals and Performance & Other Chemicals. Life science chemicals include pharmaceuticals (APIs) and agrochemicals, which contribute 34% of the company’s sales. While performance and other chemicals include aromatics, colors, bulk chemicals and polymers/performance materials contributing 66% of sales.
Product-wise sales % share: Epoxy resins & hardeners – 32%, Intermediates – 23%, Herbicides – 19% and Textile dyestuffs – 16%.
Atul ltd is the only manufacturer of Resorcinol in India and is amongst the world’s largest manufacturers of Dapsone, an API.
The company reported a revenue of Rs 57.14 billion with Rs 6.03 billion PAT for the FY 2021-22.

Phillips Carbon Black

Phillips Carbon Black (PCBL), a part of RP-Sanjiv Goenka Group, was set up by Mr. K. P. Goenka in 1960 and started production at Durgapur with a production capacity of 14,000 MT per annum.
PCBL is a leader in performance materials and specialty chemicals segment, with a current production capacity of 6,03,000 MT per annum.
PCBL is the largest carbon black manufacturer in India and has a global presence with a significant customer base in 45+ countries.
It has four strategically located state-of-the-art plants at Durgapur (West Bengal), Palej (Gujarat), Mundra (Gujarat) and Kochi (Kerala), and also has R&D centres at Palej (Gujarat) and Ghislenghien (Belgium).
The company has two product segments:
- Tyres and Performance Chemicals – include Carbon black used as reinforcing filler for rubber compounds and enhancement in rubber properties.
- Specialty Chemicals – Specialty Chemicals are primarily used as a pigment in plastics, inks, coatings and many other applications.
The company reported a revenue of Rs 44.46 billion with Rs 4.27 billion PAT for the FY 2021-22.

Himadri Specialty Chemical

Incorporated in 1987, Himadri Speciality Chemical Ltd is a prominent player in multiple specialty carbon product segments.
The company is a market leader in segments like Coal Tar Pitch, Carbon Black, Naphthalene and Refined Naphthalene, SNF, and Specialty Oils, among others.
The company caters to a diverse range of new-age industries like steel, aluminium, plastic, infrastructure development, automotive and many more.
The company product segments include:
- Advanced Carbon Materials – Himadri is the largest Indian player and the first Indian producer to produce the lithium-ion battery anode material commercially.
- Coal Tar Pitch – the company is India’s largest Coal Tar Pitch manufacturer catering to demands of close to two-third of domestic aluminium and graphite electrode industry.
- Carbon Black – Himadri is the third largest player of Carbon Black.
- Specialty Carbon Black – The company produces specialty carbon black used as an important industrial raw material used for polymer, coating and printing industries.
- Naphthalene – Himadri is the largest Indian manufacturer of naphthalene.
- SNF/PCE – The company is one of the largest manufacturers of SNF and PCE in the country.
The company has its manufacturing facilities in West Bengal, Odisha, Gujarat and Andhra Pradesh.
The company reported a revenue of Rs 27.91 billion with Rs 390.54 million PAT for the FY 2021-22.

Sudarshan Chemical

Sudarshan Chemical Industries Limited is a global color and effect pigment manufacturer based in Pune, Maharashtra.
The company has experience of over 70 years supplying pigments and solvent dyes for coatings, plastics, printing and digital print, cosmetics and special applications.
The company operates in two business segments:
- Specialty Pigments
- Non-specialty
The company has two production plants, one in Roha and other in Mahad, in the Maharastra state of India.
For the FY 2021-22, PI Industries’ revenue was Rs 22.01 billion and its PAT was Rs 1.30 billion.

Vinati Organics

Headquartered in Mumbai, Vinati Organics is a leading specialty chemicals and fine chemicals manufacturer.
Its specialty chemicals products include Specialty Aromatics, Specialty Products and Miscellaneous Polymers. Fine chemicals include Specialty Monomers and Butyl Phenols.
- Specialty Aromatics – Iso butyl benzene (IBB), Primary (NBB) & Secondary Butyl Benzene (SBB), Tertiary Amy Benzene, 3-Phenylpentane, C10 Aromatic solvent and 4-Butylaniline.
- Specialty Products – Isobutylene, Methanol, Hexene, Isohexane, tert-Methyl Butyl Ether, tert-Butylamine, P-tert-Butyl Benzoic acid and Methyl 4-tert-Butyl Benzoate.
- Miscellaneous Polymers – Vintreat, Vinplast 245 and Vinflow HT.
- Specialty Monomers – ATBS, NAATBS, TBA and TOA.
- Butyl Phenols – OTPB, PTBP, 2 4 DTBP and 2 6 DTBP.
The company is the world’s largest manufacturer of IBB and ATBS, commanding more than 65% market share for both these products.
Vinati Organics supplies products in more than 35 countries across the US, Europe and Asia.
The company reported a revenue of Rs 16.16 billion with Rs 3.47 billion PAT for the FY 2021-22.

NOCIL

NOCIL is a manufacturer of rubber chemicals, a specialty organic chemicals catering to the rubber and tire industry.
NOCIL commenced rubber chemicals production in the year 1975. It is headquartered in ‘Chemicals Zone’ near Mumbai City, Maharashtra.
The company is the largest rubber chemicals manufacturer in India with state-of-the-art technology.
Rubber Chemicals are sold in following categories:
- Antidegradants or Antioxidants – These are essential chemicals which ensures that the normal or desired life cycle of a rubber product is achieved. Px 13 (6 PPD) and TDQ (TMQ) are the main products under the category.
- Accelerators – These are critical and essential chemicals which accelerates the sulphur cross linking reaction (vulcanization) and impart desired physical properties to rubber products and enable manufacturing of products on a largescale at an optimum cost. Products MBT, MBTS, CBS, MOR, TMT, TBBS (NS), DCBS, PVI fall under this category.
- In addition to the above, NOCIL also manufactures products which are used for the manufacture of non-automobile industry products and for specialized applications. Products F, ZDC, ZDBC, ZMBT, SDBC, ZBZDC, DHTS fall under this category.
The company’s key products include of PILFLEX ® Antidegradants, PILNOX ® Antioxidants, PILCURE ® Accelerators, Post Vulcanization Stabilizer and PILGARD ® Pre-Vulcanization Inhibitor.
NOCIL has state of the art manufacturing facility at Navi Mumbai and Dahej.
For the FY 2021-22, PI Industries’ revenue was Rs 15.71 billion and its PAT was Rs 1.75 billion.

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