In a field of more than 25 Indian Petrochemical industry participants, Frost & Sullivan independently plotted the top 10 companies in this Frost Radar™ analysis. The Frost Radar™ on the Indian Petrochemicals Industry is a competitive benchmarking tool on the Growth and the Innovation potential of select petrochemical companies that have based their core operations in India.
Almost all companies plotted on the Frost Radar™ have a noteworthy Innovation score and are making adequate investments in R&D. Frost & Sullivan attributes this to their proactive product development strategies that seek to address the environmental concerns of both regulatory authorities and of OEMs themselves.
The Frost Radar™ measures growth rates in addition to absolute revenues and combines them with several other factors (described in the Frost Radar™) to measure companies’ performance along the growth axis.
The companies profiled here have a product portfolio of at least 2 distinct subsegments in the petrochemical space, i.e., polyolefins, vinyls, aromatics, and/or with backward integration to make their own feedstock. Weightage has been given to companies with a product portfolio that meets import substitution and companies that are expected to boost the local economy, be they existing players or new entrants.
RIL, IOCL, and BPCL are leaders on the Frost Radar™ because of their niche product range, their target geography, and their low business risk, as they have backward integrated to manufacture their own raw materials.

Strategic Imperative
Growth Environment
Frost Radar™: Indian Petrochemicals Market
Frost Radar™: Competitive Environment
Reliance Industries Limited (RIL)
Indian Oil Corporation Ltd (IOC)
Bharat Petroleum Corporation Limited (BPCL)
Haldia Petrochemicals Limited (HPL)
Mangalore Refinery & Petrochemicals Ltd. (MRPL)
Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL)
HPCL-Mittal Energy Limited (HMEL)
ONGC Petro Additions Limited (OPAL)
Nayara Energy (NEL)
Brahmaputra Cracker and Polymer Limited (BCPL)
Strategic Insights
Significance of Being on the Frost Radar™
Frost Radar™ Empowers the CEO’s Growth Team
Frost Radar™ Empowers Investors
Frost Radar™ Empowers Customers
Frost Radar™ Empowers the Board of Directors
Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
Speak directly with our analytics experts for tailored recommendations.
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Frost Radar |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Rohit Kulkarni |
| Industries | Chemicals and Materials |
| WIP Number | PAE1-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9100-A2,9595,9870 |
Frost Radar™: Indian Petrochemicals Market, 2020
A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines
05-Nov-2020
South Asia, Middle East & North Africa
Frost Radar
