The chemical industry comprises the companies that produce industrial chemicals. Central to the modern world economy, it converts raw materials (oil, natural gas, air, water, metals, and minerals) into more than 70,000 different products.
The plastics industry contains some overlap, as most chemical companies produce plastic as well as other chemicals.
In modern age chemical industries have permeated most extensively in comparison with other industries and are progressing at a very rapid pace. Chemical Industry in India is one of the fastest growing industries under the Indian economy. The chemical industry comprises the companies that produce industrial chemicals. Central to the modern world economy, it converts raw materials into more than 70,000 different products. Chemicals have contributed in various sectors like food industry, fertilizers, perfumery, fragrance and flavour etc. Chemicals are used to make a wide variety of consumer goods, as well as thousands inputs to agriculture, manufacturing, construction, and service industries. There are numerous chemicals produced in chemical industry for example chloroform, caffeine, fertilizers, dyes, drug intermediates, herbicide, inorganic salts, copper sulphate, acetaldehyde etc. The chemical industry itself consumes 26 percent of its own output. The Chemical Industry in India is based on the idea of diversification. For example inorganic chemicals is the sector where the growth rate is near about 9% and the chemicals produced in this sector are mainly used in alkalis, fertilizers, etc. Depending on the product categories the chemical industry is divided in many other sectors like drugs and pharmaceuticals, fertilizers, fine chemicals like dyes and paints etc. The chemical industry in India which generates almost 13% of total national export is growing annually at a growth rate anywhere between 10% and 12%.