Vipul Organics Limited, the BSE Listed Specialty Chemicals company, ventures into the Paper segment in a big way
nitial client wins include Tamil Nadu Paper Limited, Andhra Paper, etc.
Setting up a state-of-the-art R&D lab for the paper category at its Ambernath Plant
Expects turnover of 50 Cr from the segment in the next three years
Vipul Organics Limited, the BSE listed (VIPULORG / 530627) leading Specialty Chemicals company in the pigments and dyes segment, has ventured into the Paper segment in the domestic market.
Vipul Organics worked closely on its product innovation and over a period of 12-18 months created product lines completely focused on the segment, before launching them into the market. This innovation in product lines with Paper focused Dispersions and Dyes has been appreciated by the industry and the initial client wins include leading players like Tamil Nadu Paper Limited, Andhra Paper, etc.
Paper dyes are dyes used to change or add to the colour of paper. Paper dyes are coloured matter soluble in the medium of application. The global Paper Dyes market size was at USD 1.03 billion in 2022 and is expected to grow till USD 1.47 billion by 2029, at a Compounded annual growth rate (CAGR) of 4.20%. (1). Paper dyes market is going to be the fastest growing amongst Dyes and Pigments. It is expected that almost 43% of it will be dominated by the Asia Pacific region (2).
“With so much excitement in the category, it was obvious that we had to seriously look at the Paper business. We were gratified by client response and are already working with the leading players in the segment. This also forced us to go back to the drawing board to create a strong R&D lab which looks at customer requirements and create solutions to their pain points. A state-of-the-art lab is being set up and will be fully functional shortly”, says Mr. Vipul P Shah, Chairman and Managing Director, Vipul Organics Limited.