Superform Steers UPL Ltd into New Market Horizons

UPL Ltd’s subsidiary, Superform, is shifting focus beyond agriculture to markets like lubricants, healthcare, and mining. This move aligns with India's aim to be a key player in the global chemical industry by 2040, with the specialty segment potentially capturing 10-12% of the market share.

In a strategic move, UPL Ltd announced on Monday that its subsidiary, Superform, previously known as UPL Specialty Chemicals Ltd, is expanding its market reach. The subsidiary will now target sectors beyond agriculture, such as lubricants, flame retardants, mining, healthcare, and food and beverages.

This diversification aligns with India's ambition to become a significant contender in the global chemical industry, with predictions indicating that the Indian chemical market could surpass USD 1,000 billion by 2040. According to UPL, the specialty chemical segment could command 10-12% of the global market by that time.

Driven by increasing domestic demand and a shift in global supply chains, along with changing consumer preferences, India plans to triple its share of the global chemistry market by 2040, growing annually at 7-10% between 2027 and 2040. To support this transformation, Superform has committed to an annual investment of Rs 400-500 crore.

(With inputs from agencies.)