India positioned for prominent role in global alkali market: AMAI
India’s Caustic Soda industry is currently at a capacity of 57.85 Lakhs MT (LMT) and is anticipated to experience a 9.1% Compound Annual Growth Rate (CAGR) over the next five years, reaching 89.26 LMT. Similarly, the Soda Ash sector is forecasted to grow by 4.1% CAGR in the next five years, climbing to 53.71 Lakhs MT from the current 43.96 LMT. These insights were shared by Ajay Virmani, President of the Alkali Manufacturers Association of India (AMAI), during the opening speech at the annual conference hosted by AMAI, with the theme of “Alkali Industry – Trends, Developments, and Outlook,” held at Taj Skyline in Ahmedabad.
Virmani emphasized that the demand growth is projected to be around 3.5-4%, potentially resulting in significant surpluses that could open up substantial opportunities for exports. He expressed his view that India holds the potential to be a key player in the global alkali market due to its substantial domestic demand and strategic positioning in the global supply chain. However, he also acknowledged the challenges posed by high energy costs, raw material availability constraints, and regulatory pressures that necessitate attention. Virmani stressed the importance of balancing development with sustainability, highlighting this as a core focus of the conference.
The conference provided a platform to explore the evolving landscape of international markets, ranging from the implications of environmental regulations to the evolving needs for greener technologies and raw material sourcing. Virmani stressed the need for the industry to stay vigilant and adaptable in response to changing dynamics to ensure long-term success and growth.
Avantika Singh Aulakh, Secretary to the Chief Minister of Gujarat and Managing Director of Gujarat Alkalies and Chemicals Limited (GACL), underscored the importance of collaborative efforts in ensuring the future success of the alkali industry. Aditya Shriram, Vice President of AMAI and Deputy Managing Director of DCM Shriram Limited, emphasized the critical importance of focusing on sustainability and safety within the industry. He emphasized that while sustainability is a widely discussed topic, safety stands out as a paramount consideration due to the hazardous nature of the chemicals involved.
The event witnessed a diverse representation, with approximately 300 delegates from 125 companies across 10 countries, coming together to engage in discussions around market outlook, growth prospects in consumer industries, and emerging technological advancements within the alkali industry. Through sessions focused on international market trends, consumer industry growth, and technological innovations, participants gained valuable insights into the future trajectory of the alkali industry and the imperative of embracing sustainability, safety, and innovation to remain competitive in both domestic and international markets.
