ISec’s February 2025 chemicals export data reveals a mixed performance across the sector. While most companies faced headwinds, three—Gujarat Fluoro, Navin Fluorine, and Clean Science—emerged as the only ones achieving both month-on-month (MoM) and year-on-year (YoY) growth. Meanwhile, several other companies reported declines due to demand fluctuations, pricing pressures, and global trade dynamics. Let’s take a closer look at the data and trends.
Top Gainers: Gujarat Fluoro, Navin Fluorine, and Clean Science
Gujarat Fluoro: A Leader in Fluoropolymers
Feb 2025 exports: ₹2,336 million
MoM growth: +15.9%
YoY growth: +37.0%
Key drivers: High demand for fluoropolymers and refrigerant gases fueled strong growth.
Navin Fluorine: Specialty Chemicals Expansion Continues
Feb 2025 exports: ₹1,376 million
MoM growth: +3.4%
YoY growth: +48.1%
Key drivers: Growth in specialty chemicals and contract development & manufacturing organization (CDMO) operations.
Clean Science: Consistent Performance in Performance Chemicals
Feb 2025 exports: ₹562 million
MoM growth: +16.8%
YoY growth: +18.6%
Key drivers: Increased demand for MEHQ, BHA, and HALS used in pharmaceuticals, cosmetics, and agriculture.
Companies with Mixed or Negative Growth
SRF: Decline in Specialty Chemicals Exports
Feb 2025 exports: ₹3,546 million
MoM change: -19.6%
YoY change: +7.8%
Reason: Weak performance in specialty chemicals (-25% MoM), despite higher refrigerant gas sales.
Archean Chemicals: Salt Exports Decline
Feb 2025 exports: ₹729 million
MoM growth: +12.8%
YoY growth: +84.4%
Key drivers: Strong bromine exports but a decline in salt shipments.
BlueJet: Sharp MoM Decline but Strong YoY Growth
Feb 2025 exports: ₹1,039 million
MoM change: -22.2%
YoY growth: +168.9%
Key drivers: High growth in GE Healthcare products but a drop in Espiron exports (-33.9% MoM).
Atul Ltd: Moderate Growth Despite MoM Decline
Feb 2025 exports: ₹1,619 million
MoM change: -15.1%
YoY growth: +20.3%
Key drivers: Stable demand for 2,4-D (herbicide), but a dip in other chemicals.
PCBL (Carbon Black): Slight MoM Drop, Strong YoY Growth
Feb 2025 exports: ₹1,647 million
MoM change: -6.3%
YoY growth: +11.4%
Key drivers: Steady demand for carbon black, though monthly shipments declined slightly.
Sudarshan Chemicals: Fluctuating Demand for Pigments
Feb 2025 exports: ₹876 million
MoM change: +0.1%
YoY change: -1.7%
Key drivers: Slow demand recovery in global pigment markets.
Deepak Nitrite: Declining Exports Continue
Feb 2025 exports: ₹414 million
MoM change: -7.2%
YoY change: -17.3%
Key drivers: Weak performance in bulk chemicals and phenol derivatives.
PI Industries: Stable but Declining Growth
Feb 2025 exports: ₹1,525 million
MoM change: -10.3%
YoY change: -12.3%
Key drivers: Demand softness in agrochemicals.
The February 2025 export data highlights mixed trends in the Indian specialty chemicals sector. While Gujarat Fluoro, Navin Fluorine, and Clean Science bucked the trend with consistent growth, others like SRF, Deepak Nitrite, and PI Industries saw declines due to market volatility.
Going forward, companies with strong specialty chemicals and high-value product portfolios are likely to perform better amid shifting global demand. Investors should keep an eye on export trends and sectoral tailwinds in the coming months.
Disclaimer
This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research or consult financial professionals before making investment decisions. The data is sourced from ISec reports and may be subject to revisions.
