Chemicals Imported In India 2026 Market Overview & Trends

India's chemical imports reached a peak of $51.98 billion in 2022 before softening to $44.28 billion in 2024. While the import value has decreased recently, it remains significantly higher than the 2020 baseline of $30.71 billion. A notable decline in total quantity since 2021 suggests a shift in unit pricing or a strategic reduction in import volumes.

China is the primary source of chemical imports for India, accounting for $13.29 billion in 2024. This volume is nearly four times larger than imports from the second-largest supplier, Japan ($3.44B). The United States, Saudi Arabia, and South Korea round out the top five, indicating a high dependency on East Asian and North American production hubs.

Thailand is the fastest-growing partner with a 33.6% growth rate, followed closely by Indonesia at 22.5%. These figures highlight a significant pivot toward Southeast Asian suppliers. While Japan maintains a high export value, its 15.4% growth indicates steady expansion, whereas Singapore's 5.1% growth suggests a more mature and stable trading relationship.

Phosphoric acid leads product imports with a total value of $1.99 billion in 2024. Other major imports include nicotine-related products for inhalation ($1.61B) and terephthalic acid ($1.55B). The inclusion of styrene and gold compounds in the top five highlights the diverse industrial needs of India, ranging from polymer manufacturing to specialized chemical processing.