Himadri Speciality Chemical, one of India’s largest speciality carbon black manufacturer, is set to expand its product portfolio by launching high value-added speciality chemicals by September 2026.
The company will target both domestic and international markets, including Europe and the United States.
New Products and Forward Integration at Singur Plant
Himadri will produce anthraquinone, carbazole, and fluorene for the first time in India.
These products will be developed through a forward integration process at the company’s Singur plant in West Bengal, using existing coal tar distillates.
According to Anurag Choudhary, CMD and CEO of Himadri Speciality Chemical, the integration will enable the company to diversify its offerings and tap into high-growth markets.
Investment in New Facility
To facilitate the production of these speciality chemicals, Himadri has allocated ₹120 crore for setting up a new facility at its existing Singur plant.
The new plant will enable the company to manufacture these high-value products and serve both domestic and international markets.
Market Outlook for New Products
Anthraquinone is a key chemical used in dye, paper, hydrogen peroxide, and agriculture. In 2023, its global market size was $4.96 billion. The market analysts project the market will grow at a compound annual growth rate (CAGR) of 5% through 2032.
Carbazole and fluorene had market sizes of $1.2 billion and $1.73 billion, respectively, in 2023. They find applications in pharmaceuticals, electronics, polymers, plastics, and agrochemicals.
The Indian domestic market for these products accounts for approximately 20% of the global market. This presents opportunities for both import substitution and export growth.
Strong Financial Performance
Himadri Speciality Chemical’s financial performance has been good.
In Q3 FY25, the company reported a 29.76% year-on-year increase in its consolidated net profit, which reached ₹141.15 crore.
Revenue from operations grew by 8.37% to ₹1,140.66 crore, and the company achieved its highest-ever quarterly EBITDA of ₹222 crore.
Strategic Focus on Global Market Expansion
The strategic expansion into high-value speciality chemicals reflects Himadri’s broader goal. This goal is to diversify its product range and strengthen its presence in global speciality chemical markets.
Newsonprojects.com reports that the company is positioning itself well to meet growing demand both in India and abroad with these new products.
