25 April 2012 18:01 [Source: ICIS news]
(adds paragraphs 4-11)
JERSEY CITY, NEW JERSEY (ICIS)--India’s Reliance Industries is planning to enter the global surfactants market, a senior executive said on Wednesday.
“Entering the home and personal care ingredients (HPCI) market will give us a unique position in the value chain from oil and gas, all the way down to retail,” said Harish Davey, president, strategy and business development at Reliance.
Davey spoke at the 2nd ICIS World Surfactants Conference in Jersey City, New Jersey, US.
Reliance is increasing its presence in consumer retail sales on one end of the chain, along with its oil and gas activities on the other end. The chemical activities are in the middle.
“HPCI, including surfactants, is the missing link in the chain,” said Davey.
Reliance has an ethoxylates project in the “stage gate 3 stage,” while the other elements of the plan are in concept stage,” he said.
Reliance plans to enter the surfactants market through both organic growth and mergers and acquisitions (M&A), said Davey.
Davey projects the India surfactants market to grow from $2bn (€1.5bn) in 2010, to $6bn by 2020, on an increasing population skewed towards youth.
“You will have 1bn more consumers that want 80% of the functionality of products at 20% of the price. We cannot ignore this megatrend,” he added.
Reliance plans to enter the market in a big way.
“Management philosophy on projects is that we are not interested if they are less than $1bn in size,” said Davey.
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections