India Refinery Process Chemicals Market

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India Refinery Process Chemicals Market, By Product Type (Catalysts, pH Adjustors, Anti-fouling Agents, Demulsifiers, Corrosion Inhibitors); By Refinery Process Conversion Type (Water Treatment, Petroleum Treatment); By End User (Oil & Gas Industry, Chemicals Industry, Water Treatment Industry, Others); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

Published Date: November 2024
Report ID: BWC24887
Available Format: PDF
Page: 117

Report Overview

A spurring demand for refined petroleum products, a growing focus on complying with stringent environmental regulations, and rising technological advancements are expected to drive India Refinery Process Chemicals Market at a significant growth rate during the forecast period between 2024 and 2030.

India Refinery Process Chemicals Market – Industry Trends & Forecast Report, 2030

India Refinery Process Chemicals Market size is projected to grow at a CAGR of 5.20% during period between 2024 and 2030. Prominent drivers of India Refinery Process Chemicals Market include the rising demand for refined petroleum products such as gasoline, diesel, and jet fuel, fueled by the growing vehicle fleet and expanding aviation sector. Refineries are increasingly adopting process chemicals to enhance productivity, improve product quality, and maximize yields by removing impurities from crude oil. Also, industrial growth, population expansion, and cost optimizations in refineries further bolster the market. The growing focus on renewable energy offers opportunities for bio-based chemicals, while advancements in technology and sustainability practices drive innovation. Emerging regional markets across the country also present significant growth prospects for the major players in India Refinery Process Chemicals Market.

Refinery Process Chemicals – Overview

Refinery process chemicals are specialized chemical compounds used in oil refineries to optimize the processing of crude oil into refined petroleum products such as gasoline, diesel, jet fuel, and lubricants. These chemicals aid in various stages of refining by enhancing operational efficiency, improving product quality, and reducing equipment wear and tear. They include demulsifiers, corrosion inhibitors, catalysts, desulfurization agents, and anti-fouling chemicals, among others, which address specific challenges, such as impurity removal, emission control, and product stabilization. Refinery process chemicals’ use is integral to ensuring cost-effective, environmentally compliant, and high-quality refining operations.

India Refinery Process Chemicals Market

Growth Drivers

Increasing Demand for Refined Petroleum Products

India Refinery Process Chemicals Market is witnessing significant growth, driven by the surging demand for refined petroleum products such as fuels and petrochemicals. Factors like population growth, rapid urbanization, and increased industrial activities are key contributors to this rising demand. Government initiatives, including "Make in India," "Atmanirbhar Bharat," and Production-Linked Incentive (PLI) schemes, have further propelled investments in refining capacity and technological advancements, ensuring enhanced production efficiency and reduced import dependence. With India’s petrochemical sector projected to grow exponentially—expected to triple in demand by 2040 and reach a market size of USD 1 trillion—the use of refinery process chemicals has become pivotal in meeting the evolving needs of industries. Additionally, global energy trends and investments by key players like Indian Oil and Bharat Petroleum in advanced refining technologies highlight the sector’s robust trajectory.

Challenges

Highly Volatile Crude Oil Prices

Fluctuating crude oil prices pose a significant challenge to the India Refinery Process Chemicals Market, as they directly impact refinery operations and profitability. Unpredictable price shifts can lead to increased costs for raw materials, forcing refiners to cut expenditures on advanced process chemicals to maintain margins. This volatility also discourages long-term investments and hampers strategic planning within the refining sector. Additionally, fluctuating global oil markets, geopolitical tensions, and supply-demand imbalances further exacerbate price instability, limiting the adoption of innovative chemical solutions. Consequently, these factors collectively restrain the market’s growth potential in India’s refining industry.

Impact of Escalating Geopolitical Tensions on India Refinery Process Chemicals Market

Escalating geopolitical tensions among countries and further spreading across regions could have a significant impact on the growth of India Refinery Process Chemicals Market. Such conflicts often disrupt crude oil supply chains, leading to price volatility and uncertain availability of raw materials, directly affecting refinery operations. Trade restrictions, sanctions, and fluctuating import-export policies further exacerbate challenges for chemical procurement and refining efficiency. Additionally, heightened geopolitical risks deter foreign investments in the refining sector and complicate long-term strategic planning. These factors not only increase operational costs but also hinder the adoption of advanced process chemicals, thereby restraining the market's overall growth.

India Refinery Process Chemicals Market

Segmental Coverage

India Refinery Process Chemicals Market – By Product Type

Based on product type, India Refinery Process Chemicals Market is divided into Catalysts, pH Adjustor, Anti-fouling Agents, Demulsifiers, and Corrosion Inhibitors segments. The catalyst segment dominates India Refinery Process Chemicals Market by product type, driven by its critical role in enhancing refining efficiency. Catalysts facilitate key processes like hydrocracking, catalytic reforming, and fluid catalytic cracking, which are essential for converting crude oil into valuable end products such as gasoline, diesel, and jet fuel. The rising demand for cleaner fuels and stringent environmental regulations are boosting the adoption of advanced catalytic technologies. Additionally, the growth in refining capacity and modernization of refineries across India further propels the demand for catalysts. Their efficiency in optimizing production processes and minimizing energy consumption makes them indispensable, ensuring their leading position in the market. Meanwhile, the corrosion inhibitors segment is expected to record the fastest growth rate in India Refinery Process Chemicals Market by product type during the forecast period. These chemicals play a critical role in preventing the corrosion of metal surfaces in refineries, thereby enhancing equipment longevity and reducing maintenance expenses. Their demand is bolstered by the enforcement of stringent environmental regulations aimed at curbing the environmental impact of industrial operations, ensuring sustainable refinery processes.

India Refinery Process Chemicals Market

India Refinery Process Chemicals Market – By Refinery Process Conversion Type

Based on refinery process conversion type, India Refinery Process Chemicals Market is bifurcated into Water Treatment and Petroleum Treatment segments.

India Refinery Process Chemicals Market – By End User

On the basis of distribution channel, India Refinery Process Chemicals Market is divided into Oil & Gas Industry, Chemical Industry, Water Treatment Industry, and other segments. The oil & gas industry segment holds the highest share of India Refinery Process Chemicals Market by distribution channel, due to its direct integration with refineries. As the primary consumers of process chemicals, oil and gas companies ensure seamless procurement to optimize refining operations and meet stringent fuel quality standards. Their established supply chains, bulk purchasing capabilities, and focus on cost efficiency drive their dominance. Additionally, the rising demand for cleaner fuels and the modernization of refining infrastructure strengthen the segment's position. The industry's technical expertise and collaboration with chemical manufacturers further streamline distribution, ensuring consistent supply and fostering its leadership in the market.

India Refinery Process Chemicals Market – By Region

The in-depth research report on India Refinery Process Chemicals Market covers the market in the country’s major regions: North India, South India, East India, and West India.

Competitive Landscape

Major players operating in India Refinery Process Chemicals Market include Reliance Industries, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, ONGC, HPCL-Mittal Energy Limited, Chennai Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Gandhar Oil Refinery Limited, Mangalore Refinery and Petrochemicals Limited, and ResGen Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

In July 2024 - Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of ONGC in coastal Karnataka, announced plans to expand its petrochemical profile, including polypropylene and aromatics, and aims to grow its HiQ retail brand in South India.
In April 2024 - Haldia Petrochemicals Ltd (HPL), part of The Chatterjee Group, announced its plans a USD 10-billion oil-to-chemical project in Tamil Nadu by 2028-2029, with financial closure targeted by end-2024. The facility, producing 3.5 million metric tons of ethylene and propylene annually, aims to reduce India's reliance on imports for specialty chemicals.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2019–2030
	Base Year – 2023
	Estimated Year – 2024
	Forecast Period – 2024–2030
Facts Covered	Revenue in USD Million
Market Coverage	India
Product/ Service Segmentation	Product Type, Refinery Process Conversion Type, End Users, Region
Key Players	Reliance Industries, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, ONGC, HPCL-Mittal Energy Limited, Chennai Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Gandhar Oil Refinery Limited, Mangalore Refinery and Petrochemicals Limited, ResGen Limited

By Product Type

Catalysts
pH Adjustors
Anti-fouling Agents
Demulsifiers
Corrosion Inhibitors

By Refinery Process Conversion Type

Water Treatment
Petroleum Treatment

By End Users

Oil & Gas Industry
Chemical Industry
Water Treatment Industry
Others

By Region

North India
South India
West India
East India

Research Framework
1. Research Objective
2. Product Overview
3. Market Segmentation
Executive Summary
India Refinery Process Chemicals Market Insights
1. Industry Value Chain Analysis
2. DROC Analysis
  1. Growth Drivers
    1. Increasing Demand for Refined Petroleum Products
    2. Stringent Environmental Regulations
    3. Technological Advancements
  2. Restraints
    1. Volatile Crude Oil Prices
    2. Economic Slowdown
  3. Opportunities
    1. Expanding Refining Capacity
    2. Growing Demand for Specialty Chemicals
  4. Challenges
    1. Competition from Global Players
    2. Supply Chain Disruptions
3. Technological Advancements/Recent Developments
4. Regulatory Framework
5. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of New Entrants
  4. Threat of Substitutes
  5. Intensity of Rivalry
India Refinery Process Chemicals Market: Marketing Strategies
India Refinery Process Chemicals Market Overview
1. Market Size & Forecast, 2019–2030
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
    1. Catalysts
    2. pH Adjustors
    3. Anti-fouling Agents
    4. Demulsifiers
    5. Corrosion Inhibitors
  2. By Refinery Process Conversion Type
    1. Water Treatment
    2. Petroleum Treatment
  3. By End Users
    1. Oil and Gas Industry
    2. Chemical Industry
    3. Water Treatment Industry
    4. Others
  4. By Region
    1. North India
    2. South India
    3. East India
    4. West India
North India Refinery Process Chemicals Market
1. Market Size & Forecast, 2019–2030
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Refinery Process Conversion Type
  3. By End Users
South India Refinery Process Chemicals Market
1. Market Size & Forecast, 2019–2030
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Refinery Process Conversion Type
  3. By End Users
East India Refinery Process Chemicals Market
1. Market Size & Forecast, 2019–2030
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Refinery Process Conversion Type
  3. By End Users
West India Refinery Process Chemicals Market
1. Market Size & Forecast, 2019–2030
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Refinery Process Conversion Type
  3. By End Users
Competitive Landscape
1. List of Key Players and Their Offerings
2. India Refinery Process Chemicals Company Market Share Analysis, 2023
3. Competitive Benchmarking, By Operation Channel Parameters
4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
Impact of Escalating Geopolitical Tensions on India Refinery Process Chemicals Market
Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
1. Reliance Industries
2. Indian Oil Corporation Limited
3. Bharat Petroleum Corporation Limited
4. ONGC
5. HPCL-Mittal Energy Limited
6. Chennai Petroleum Corporation Limited
7. Hindustan Petroleum Corporation Limited
8. Gandhar Oil Refinery Limited
9. Mangalore Refinery and Petrochemicals Limited
10. ResGen Limited
11. Other Prominent Players
Key Strategic Recommendations
Research Methodology
1. Qualitative Research
  1. Primary & Secondary Research
2. Quantitative Research
3. Market Breakdown & Data Triangulation
  1. Secondary Research
  2. Primary Research
4. Breakdown of Primary Research Respondents, By Region
5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1 India Refinery Process Chemicals Market Segmentation

Figure 2 India Refinery Process Chemicals Market Value Chain Analysis

Figure 3 Company Market Share Analysis, 2023

Figure 4 India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Figure 5 India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Figure 6 India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Figure 7 India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Figure 8 India Refinery Process Chemicals Market Share, By Region, By Value (USD Million) 2019–2030

Figure 9 North India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Figure 10 North India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Figure 11 North India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Figure 12 North India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Figure 13 South India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Figure 14 South India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Figure 15 South India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Figure 16 South India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Figure 17 East India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Figure 18 East India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Figure 19 East India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Figure 20 East India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Figure 21 West India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Figure 22 West India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Figure 23 West India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Figure 24 West India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

List of Tables

Table 1 India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Table 2 India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Table 3 India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Table 4 India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Table 5 India Refinery Process Chemicals Market Share, By Region, By Value (USD Million) 2019–2030

Table 6 North India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Table 7 North India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Table 8 North India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Table 9 North India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Table 10 South India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Table 11 South India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Table 12 South India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Table 13 South India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Table 14 East India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Table 15 East India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Table 16 East India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Table 17 East India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Table 18 West India Refinery Process Chemicals Market Size, By Value (USD Million), 2019–2030

Table 19 West India Refinery Process Chemicals Market Share, By Product Type, By Value (USD Million) 2019–2030

Table 20 West India Refinery Process Chemicals Market Share, By Refinery Process Conversion Type, By Value (USD Million) 2019–2030

Table 21 West India Refinery Process Chemicals Market Share, By End Users, By Value (USD Million) 2019–2030

Table 22 Reliance Industries Company Overview

Table 23 Reliance Industries Financial Overview

Table 24 Indian Oil Corporation Limited Company Overview

Table 25 Indian Oil Corporation Limited Financial Overview

Table 26 Bharat Petroleum Corporation Limited Company Overview

Table 27 Bharat Petroleum Corporation Limited Financial Overview

Table 28 ONGC Company Overview

Table 29 ONGC Financial Overview

Table 30 HPCL-Mittal Energy Limited Company Overview

Table 31 HPCL-Mittal Energy Limited Financial Overview

Table 32 Chennai Petroleum Corporation Limited Company Overview

Table 33 Chennai Petroleum Corporation Limited Financial Overview

Table 34 Hindustan Petroleum Corporation Limited Company Overview

Table 35 Hindustan Petroleum Corporation Limited Financial Overview

Table 36 Gandhar Oil Refinery Limited Company Overview

Table 37 Gandhar Oil Refinery Limited Financial Overview

Table 38 Mangalore Refinery and Petrochemicals Limited Company Overview

Table 39 Mangalore Refinery and Petrochemicals Limited Financial Overview

Table 40 ResGen Limited Company Overview

Table 41 ResGen Limited Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

1. What is the expected growth rate of India Refinery Process Chemicals Market by value during the forecast period?

Ans: India Refinery Process Chemicals Market is expected to grow at CAGR of 5.20% during period between 2024 and 2030.

2. What are the major factors driving the growth of India Refinery Process Chemicals Market?

Ans: The growth of India Refinery Process Chemicals Market is primarily driven by an increasing demand for refined petroleum products, stringent environmental regulations, and rising technological advancements.

3. Name the key players in India Refinery Process Chemicals Market.

Ans: Key players in India Refinery Process Chemicals Market include Reliance Industries, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, ONGC, HPCL-Mittal Energy Limited, Chennai Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Gandhar Oil Refinery Limited, Mangalore Refinery and Petrochemicals Limited, and ResGen Limited.

4. Which is the fastest product type segment in India Refinery Process Chemicals Market?

Ans: The corrosion inhibitors segment is expected to grow at the fastest CAGR in India Refinery Process Chemicals Market during the forecast period between 2024 and 2030.

5. Name the leading end user segment in India Refinery Process Chemicals Market?

Ans: The oil & gas industry accounts for the largest market share of India Refinery Process Chemicals Market.

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India Refinery Process Chemicals Market

Report Overview

Market Segmentation

To request a free sample copy of this report, please complete the form below.

Frequently Asked Questions (FAQs):

1. What is the expected growth rate of India Refinery Process Chemicals Market by value during the forecast period?

2. What are the major factors driving the growth of India Refinery Process Chemicals Market?

3. Name the key players in India Refinery Process Chemicals Market.

4. Which is the fastest product type segment in India Refinery Process Chemicals Market?

5. Name the leading end user segment in India Refinery Process Chemicals Market?

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