What Has Been The Evolution of the Other Basic Inorganic Chemical Market in Recent Years?
The other basic inorganic chemical market has seen considerable growth due to a variety of factors.
• The market size of the other basic inorganic chemical has seen significant growth in the past few years. This market is forecasted to expand from $224.48 billion in 2024 to $244.04 billion in 2025 exhibiting a compound annual growth rate (CAGR) of 8.7%. The historical growth of this industry is due to factors such as industrialization and infrastructure progress, agricultural development, water treatment requirements, building and construction materials, and globalization of supply chains.
What Are the Future Growth Projections for the Other Basic Inorganic Chemical Market Size Evolve over the Forecast Period?
The Other Basic Inorganic Chemical market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for other basic inorganic chemicals is anticipated to witness significant expansion in the coming years. By 2029, it is projected to increase to $325.21 billion with a compound annual growth rate (CAGR) of 7.4%.
This projected growth during the forecast period could be the result of various factors such as initiatives in renewable energy, advancements in technological farming, e-waste recycling, a commitment to sustainable water management, and infrastructure and construction development. The market trends expected during this forecast period encompass global economic movements, a shift in regional demand, oscillations in the cost of raw materials, an emphasis on product quality and purity, along with supply chain robustness.
What Are The Core Factors Supporting Growth In The Other Basic Inorganic Chemical Market?
The growth of the other basic inorganic chemicals market is anticipated to be fueled by the surging demand for inorganic chemicals within the fertilizer sector. Both natural and artificially made substances composed of chemical elements that enhance plant growth and productivity are considered as fertilizers. Essential nutrients for crop sustenance and augmentation in production are provided by inorganic fertilizers, which contain fundamental inorganic chemicals. Consequently, the necessity for other basic inorganic chemicals amplifies with the escalating demand for inorganic chemicals in the fertilizer segment. To illustrate, Krungsri Research, a financial institution based in Thailand, predicted in June 2023 that the appetite for inorganic fertilizers is expected to escalate at an annual rate of 2.0-3.0% till 2025. Hence, the swelling demand for inorganic chemicals in the fertilizer sector acts as a catalyst for the expansion of the other basic inorganic chemicals market.
What Are The Major Segments Within The Global Other Basic Inorganic Chemical Market?
The other basic inorganic chemical market covered in this report is segmented –
1) By Product Type: Basic Inorganic Chemicals, Alkali Chemicals
2) By Application: Concentrators, Separators, Condensers, Vaporizers, Reactor Vessels, Other Applications
3) By Industry: Food Industry, Pharmaceuticals, Personal Care, Agriculture, Other Industries
Subsegments:
1) By Basic Inorganic Chemicals: Acids, Salts, Oxides, Carbonates
2) By Alkali Chemicals: Sodium Hydroxide, Potassium Hydroxide, Sodium Carbonate, Ammonium Hydroxide
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Which Trends Are Expected To Transform The Other Basic Inorganic Chemical Market?
The upgrading and expansion of production facilities with cutting-edge technology is a predominant trend currently witnessed in the other basic inorganic chemical market. Leading players in the industry are keen on establishing new sulfuric acid plants leveraging advanced technologies, bolstering their market standing. For example, in October 2022, Andritz AG, a technology group based out of Austria, initiated production in its first-ever sulfuric acid plant for Klabin's Ortigueira mill in Brazil. This plant is designed to manufacture 150 metric tons of commercial-grade (>98%) sulfuric acid every day from concentrated odorous vapors and elemental Sulphur. The technology used in this plant is derived from Andritz's proprietary A-Recovery+ concept, that allows pulp mills to harness side streams from the pulping process, converting them into marketable products and commodities. This plant is a part of Andritz's CircleToZero product line, which seeks to eradicate waste byproducts, create novel goods with increased value and lay the groundwork for zero-emission, zero-waste production.
Who Are the Key Players In The Other Basic Inorganic Chemical Market?
Major companies operating in the other basic inorganic chemical market include:
• Akzo Nobel NV
• Evonik Industries AG
• Mitsubishi Chemical Corporation
• GFS Chemicals Inc.
• Behn Meyer Holding AG
• Eastman Chemical Company
• Sumitomo Chiba Chemical Co. Ltd.
• Saudi Basic Industries Corporation
• China Petroleum & Chemical Corporation
• LG Chem Ltd.
• Arkema SA
• Solvay SA
• Tata Chemicals Limited
• Otsuka Chemical Co. Ltd.
• Albemarle Corporation
• Cabot Corporation
• The Dow Chemical Company
• Huntsman Corporation
• Ineos Group Limited
• Lanxess AG
• Olin Corporation
• PQ Corporation
• Rhodia SA
• Shin-Etsu Chemical Co. Ltd.
• Tosoh Corporation
• W.R. Grace & Co.
• Zeon Corporation
• American Elements Corporation
• Chemetall GmbH
• Materion Corporation
• Merck KGaA
• Umicore SA
What Is The Most Dominant Region In The Other Basic Inorganic Chemical Market?
Asia-Pacific was the largest region in the other basic inorganic chemical market in 2024. The regions covered in the other basic inorganic chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
