India is set to expand its petrochemical production significantly, a move that could alter supply dynamics across Asia, according to S&P Global Ratings, reported by ANI. India’s strategy mirrors China’s earlier steps to cut reliance on imports and build a stronger domestic manufacturing base. Ker Liang Chan, a credit analyst at S&P, said India’s capacity additions are expected to intensify competition within the broader Asian petrochemical market over the coming years.

Implications for regional exporters

S&P Global Ratings noted that India’s and China’s drive for self-sufficiency will likely put pressure on petrochemical exporters across Asia. Countries that currently supply much of the two markets’ chemical imports may find their export volumes shrinking as both economies produce more a

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