Prospects of the domestic chemicals industry appear to be brightening as demand revives and inventories normalise.
Last financial year, factors such as oversupply from China, weak demand in developed markets and inventory corrections dampened revenue growth.
This financial year, Crisil Research expects the industry to rebound 7-9 per cent on a low base.
Although some segments - dyes and pigments, discretionary industries, and agrochemicals, to name some continue to face headwinds, these are viewed as temporary challenges, and the medium-to long-term outlook remains positive.
This story is from the May 01, 2024 edition of Business Standard.
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This story is from the May 01, 2024 edition of Business Standard.
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