Chemicals News Today

Market sources indicate that traditional benchmarks like Platts are lagging amid current volatility, with traders advised to track China futures and company positions for real-time decisions. Meanwhile, polypropylene (PP) price protection has been announced from April 8–22, 2026, alongside an incentive of ₹2,000/MT on non-contractual domestic and export sales, supporting short-term market sentiment.

The Petrochemicals Market is projected to grow from USD 669.19B (2025) to USD 1,149.8B (2033) at a 7% CAGR, driven by packaging and manufacturing demand. The industry is evolving with sustainability and innovation.

The India Pharma Expo 2026, from April 23-25 at Hyderabad's HITEX, will unite the pharma ecosystem. Focusing on India's global role in drug manufacturing and life sciences, it features industry leaders and policymakers to drive growth and innovation.

AstraZeneca India plans to sell its 64-acre Bengaluru manufacturing facility for an estimated ₹3,400 crore (₹53 crore/acre). This divestment, attracting developers like Sattva, Aurobindo, and RMZ, is part of a global review and land monetization strategy.

Kandla Port advanced methanol bunkering, achieving Level 6 readiness for green shipping. Aiming for net-zero by 2050, it targets 500 KTPA e-methanol by 2028-29, strengthening India's position in global trade and sustainability.

Wars caused a severe naphtha shortage. Mideast Gulf supplies to Asia plummeted to 160K b/d from 1.4M b/d. Russian exports also fell, leading to a 45% drop in seaborne supplies, impacting Asian firms.

India's official states no major pharma price increase despite West Asia war impacting global supply chains of essential inputs like solvents and APIs. Government is devising strategies to meet challenges.

India maintains stable drug prices despite West Asia crisis. Government ensured uninterrupted medicine production by boosting petrochemical feedstock, monitoring intermediates, using domestic refiners, and reducing customs duty on 40 products to zero.

Punjab's minister stated the state can be a petrochemical hub. HMEL's cumulative investment reached Rs 60,000 crore, including a new Rs 2,600-crore fine chemicals project. Its refinery boasts Asia's largest 1.5 lakh-tonne polymer storage, fostering industrial growth.

The government boosted critical petrochemical feedstock supplies to the pharma sector, including propylene and methanol, from domestic refiners and producers. Customs duty was removed on 40 products. This ensures stable essential medicine production and prices amid the West Asia crisis.