Petrochemicals have backward linkages with other industries in petroleum refining, natural gas processing and forward linkages with industries that deal in a variety of downstream products. Also, the industry offers alternatives, which serve as substitutes for natural products and hence, has the capacity to meet the constantly growing demand that would otherwise strain the natural resources. The value additions in the petrochemicals chain offer immense possibilities and cater to the need of textiles and clothing, agriculture, packaging, infrastructure, healthcare, furniture, automobiles, information technology, power, electronics and telecommunication, irrigation, drinking water, construction needs and host of other articles of daily and specialized usage, amidst other emerging areas.
The Chemical sector is highly heterogeneous encompassing many segments like organic, in-organics, dyestuffs, pesticides, paints, soaps and petrochemicals etc. Research and Development is critical and of paramount importance for the growth and development of this sector. Continued R&D efforts in the part of the industry helps to improve their quality standards, obtain higher yields resulting in reduction in cost of production and to earn competitive edge in the International Market.
The Chemical and Petrochemical Industries occupies a pivotal position in meeting some basic human needs and in improving the quality of life. It is extremely important to the economy and is an integral part of everyday life.
The Chemical Industry converts raw materials like water, salt, crude oil, natural gas, air, metals minerals, etc into other valuable products. It is involved in almost every industrial process and therefore plays a significant role in economic and social development. Without Chemical Industry, there would be no electronics or microelectronics, refrigerators, recording tapes, 4 automobiles, laser discs, super magnets, processed foods and virtually all consumer products etc. Even the power industry depends on the Chemical Industry for its operations. The use of chemicals (ion exchange resins) becomes indispensable for removing dissolved salts needs in boilers and other applications. In gold mining, cyanide solution is used for extracting gold. The crude oil refining process uses chemicals, catalysts, heat, and pressure to separate and combine the basic types of hydrocarbon molecules naturally found in crude oil into groups of similar molecules. Apart from providing a variety of drugs for alleviation of human sufferings, the chemical industry provides safe anesthetic agents and high quality artificial aids including a hip joint made from ultra-low molecular weight polyethylene. Other health products including dental fills, contact lenses and dialyses also depend on the Chemicals Industry.
Management System integrates identified business processes and quality standards among other manufacturing practices for the chemical sector. It enforces guidelines to identify achievements and deal with problems in process or performance for correction. Quality management approach facilitates streamlining the processes with objectivity. The effects will also be visible in the profit. And it was observed that implementing ISO 24817:2015, ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 etc. brought substantial benefits to the organization.
