Transcript Market Information

Chemical Industry
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The concept of a chemical substance became firmly established in the late eighteenth century
after work by the chemist Joseph Proust on the composition of some pure chemical compounds
such as basic copper carbonate.
An enormous number of chemical compounds are possible by combining the roughly 120
chemical elements; currently, about thirty million have been characterized and identified.
Every chemical substance carries a unique systematic name, usually named according to the
IUPAC rules for naming. An alternative system is used by the Chemical Abstracts Service.
The International Council of Chemical Associations today represents 85% of chemical
production worldwide.
The Indian chemical industry comprises basic chemicals including petrochemicals, fertilizers,
inorganic chemicals and other industrial chemicals; specialty chemicals; and agrochemicals.
Indian chemical industry has a turn over of US$ 28 billion (Rs. 1200 billion) and accounts for
7% of the total Indian GDP.
Chemical production in the U.S. grew strongly in most sectors last year, although the pace of
the overall industry didn't match that of the total manufacturing enterprise.
In the past and at present, the chemical industry is still concentrated in three areas of the
world- Western Europe, North America and Japan . The European Community remains the
largest producer area followed by the US and Japan.
Instrumental in the changing structure of the global chemical industry has been the growing
participation of developing countries and regions
Environmental Issues, Pollution Control Rules & Regulations are very important aspects and
pose challenge to Entrepreneurs in the filed
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