Due to Covid19 pandemic, the demand for chemical products like health safety items has grown where the market for organic chemicals used for hand sanitizers, medicines, foods, cosmetics, dyes and soft drinks has grown to Tk8,000 Crore.
As stated by the Office of the Chief Controller of Imports and Exports, import for organic chemicals from different countries has grown to $665 million with exports worth of Tk61 million in the fiscal year of 2019-20. This has grown to $720 million and $86 million in the fiscal year of 2020-21.
Among the whole market, ethyl alcohol is the most widely used chemical with market share worth of Tk3,500 Crore widely used besides carbohydrates, hydrocarbons, sulfur, benzene, phenol, phthalic anhydride ,etc.
As stated by the president of the Chemical Importer-Exporter Association, about 47 companies produce organic chemicals. About 11 organic chemicals are imported by Bangladesh among 100 types of imported chemicals.