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MARKET SHARE RENEWABLE ENERGY TRENDS

India second largest exporter of petroleum products India helps bring down costs of utility-scale solar

In 2023 India became the second Value in ($ billion) Global share (%) PV globally: IEA
largest exporter of petroleum products
globally with shipments increasing to Export items 2018 2023 2018 2023 India, which discovered an auction the IEA said in its latest commentary capacity was awarded through tenders,
$84.96-bn in 2023 from $47.08-bn in Petroleum products 47.08 84.96 6.45 12.59 price of around Rs. 2,860 per mega- on the RE sector. In comparison, with prices taking an upward trajec-
2018. Insecticides, rodenticides, fungicides, 2.97 4.32 8.52 10.85 watt hour (MWh), was instrumental in Europe’s reduction was a more modest tory that commenced in 2021. Mean-
herbicides bringing down global utility-scale solar 11% with an average price of $67 per while, the average price for onshore
Shipments of petroleum products photovoltaic (PV) costs in H1 2024. MWh for projects awarded in auctions wind projects in India had increased
increased to $84.96-bn in 2023 from Cane or beet sugar 0.93 3.72 4.17 12.21 in 2024, it added. by 12%. On the other hand, the whole
$47.08-bn in 2018, giving India a12.6% Electrical transformers, static converters 1.44 2.85 1.51 2.11 According to Paris-based energy Asia Pacifi c region shows a decrease
share of the global market share in New pneumatic tyres, of rubber 1.82 2.66 2.34 3.31 thinktank, International Energy Agency Wind energy in onshore wind prices by 36%.
petroleum products trade. In 2018, this Taps, cocks, valves and similar 1.34 2.12 1.51 2.16 (IEA), the world’s fourth largest However, in the case of onshore
share was just 6.4%. market for renewable energy (RE) wind, the sector is faced with infl a- Capacity addition
appliances achieved a 23% decline y-o-y in prices tionary pressures. IEA pointed out that India is expected to almost triple
“This growth has been driven by Diodes, transistors and similar semi- 0.16 1.91 0.15 1.40 of utility-scale solar PV in the current onshore wind technology price pat- its 2022 RE capacity by 2030, in
India’s refi ning capabilities, increased conductor devices; photosensitive calendar year. terns in the fi rst half of 2024 reveal line with the COP28 global tripling
production, and ability to meet inter- semiconductor devices a complex global picture with signi- pledge. Adding 350-GW over 2024-
national standards, positioning the coun- Oils and other products of the distilla- 0.47 1.71 1.79 5.48 “Utility-scale solar PV costs de- fi cant regional variations. While the 2030, more than triple in the previous
try as a reliable supplier of petroleum tion of high temperature coal tar creased in all regions and settled at an global average price for onshore wind six-year period, it will maintain third
products to the world,” an analysis average of $40 per MWh in the fi rst decreased only slightly by 2% y-o-y place among the largest renewable
by the Ministry of Commerce and has increased its share of global trade ket share. The demand increase from half of 2024. This drop was instigated this fi gure masks two divergent trends energy markets, IEA’s Renewables
Industry said. of some other manufactured products emerging markets has helped in this largely by India, which led the world in Europe and India. 2024 report projected. Utility-scale
like tyres, gems and jewellery, and case, the analysis said. in terms of volume of solar PV capa- PV will lead growth with a 60% share,
Third largest exporter of agro- even semiconductors between 2018 city awarded in auctions and achieved The agency noted that in Europe followed by distributed PV at 20%, it
chemicals and 2023 on the back of rising competi- The data also showed that exports an auction price of $34 per MWh,” the majority of global onshore wind added.
India is also the third largest exporter tiveness. of semiconductors and photosensitive
of agrochemicals – spanning insecticides, devices increased to $1.9-bn in 2023
fungicides and similar products – with India’s position in the global market from a mere $0.16-bn in 2018 with the EXPANSION PLANS
shipments of $4.32-bn in 2023 and market for rubber pneumatic tyres is now country’s share in the world market Kothari Petrochemicals to acquire land in AP;
share of 10.8%, from 5.9% in 2018. eighth (from 13th in 2018). In 2023, increasing to 1.4%. The country now
exports of tyres was valued at $2.6-bn ranks ninth globally in semiconductor
The analysis also reveals that India which accounted for 3.3% of mar- exports from 25th in 2018. Q2 profi t falls

CAPITAL EQUIPMENT Kothari Petrochemicals Ltd.(KPL), Manali, Chennai, with a production results, KPL reported a profi t after tax
engaged in the manufactureof poly- capacity of about 48-ktpa. In FY24, (PAT) of Rs. 16.33-crore, a decline
Godrej & Boyce supplies process equipment with isobutylene(PIB), has announced plans KPL produced 40,782-tonnes of PIB, a from Rs.18.54 crore in the same
to acquire land in Andhra Pradesh notable increase from 32,640-tonnes in period last year, mainly due to a
specialized metallurgy to Mexico (AP) for future expansion. The com- FY23. KPL sources its raw material – change in raw material mix.
pany’s board recently approved the mainly isobutylene – from the adjacent
The Process Equipment business of projects in USA and Mexico. The equip- “With exports accounting for over purchase of land in the State for refi nery of Chennai Petroleum Corpo- However, revenue from opera-
Godrej & Boyce, a part of Godrej Enter ment supplied spanlarge columns, as 70% of our business, we are focused Rs. 74-crore, which will facilitate its ration Ltd. (CPCL) and other suppliers, tions rose to Rs.180.59-crore, up from
prises Group, has announced the success- well as high-pressure reactors featuring on further expanding our global pre- long-term growthplans. including Reliance Industries Ltd. Rs.161.55-crore in Q2 of the previous
ful manufacturing and dispatch of specialized chrome, molybdenum, vana- sence footprint and at the same time (RIL), to produce various grades of PIB fi scal year, according to a fi ling with
more than 20 critical equipment to two dium steel metallurgy, that provide catering to the growing domestic KPL is the sole manufacturer of in for use in lube oils, plastics, paints, stock exchanges. For the half-year
refi neries in Mexico. In the last three exceptional strength, durability, and demand,” said Mr. Hussain Shariyarr, PIB, meeting approximately 91% of and rubber industries. ended September 30,2024, PAT was
years, the company has substantially in- superior resistance to corrosion, heat, Executive Vice President & Business India’s demand for conventional PIB, slightly higher at Rs.35.69-crore com-
creased its market share in the Americas and wear – crucial characteristics for Head, Process Equipment Business, which saw a 15% increase in FY24. Q2 results pared to Rs.34.20-crore in the year-
through supplies for various prestigious demanding refi nery operations. Godrej & Boyce. The company operates a facility in In the September 2024 quarter ago period.

154 Chemical Weekly November 12, 2024 Chemical Weekly November 12, 2024 155

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