Press release
Soaring Demand and Impressive Growth Propel Other Basic Inorganic Chemical Market to $244.04 Billion by 2025
Other Basic Inorganic Chemical Market Size
What Is The Projected Market Size Of The Global Other Basic Inorganic Chemical Market And Its Growth Rate?
• The notably strong growth of the other basic inorganic chemical market has seen it expand from $224.48 billion in 2024 to an anticipated $244.04 billion in 2025.
• This growth trajectory represents a compound annual growth rate (CAGR) of 8.7%.
• Key drivers of this impressive growth include industrialization, infrastructure development, expanding agriculture, and increased water treatment needs.
• The market is expected to continue its upward trend, reaching an estimated $325.21 billion by 2029 at a CAGR of 7.4%.
What Is Driving The Growth In The Other Basic Inorganic Chemical Market?
The other basic inorganic chemicals market is experiencing substantial growth due to increasing demand for inorganic chemicals within the fertilizer industry. Inorganic fertilizers contain basic inorganic chemicals that deliver essential nutrients to crops thus enhancing their growth and productivity. As a result, the demand for inorganic chemicals is experiencing a direct correlation with the prospering fertilizer industry. For instance, in June 2023, Krungsri Research reported that the demand for inorganic fertilizers is projected to grow annually at a rate of 2.0-3.0% until 2025. Thereby, cause a parallel rise in the demand for other basic inorganic chemicals.
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Who Are the Key Players Driving Other Basic Inorganic Chemical Market Growth?
• 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 Are The Key Trends In The Other Basic Inorganic Chemical Market?
• Explosion in global economic trends
• Shift in geographic demand
• Fluctuations in raw material prices
• High focus on product quality and purity
• Strong emphasis on the resilience of the supply chain
What Are The Segments Of The Global Other Basic Inorganic Chemical Market?
• By Product Type: Basic Inorganic Chemicals, Alkali Chemicals
• By Application: Concentrators, Separators, Condensers, Vaporizers, Reactor Vessels, Other Applications
• By Industry: Food Industry, Pharmaceuticals, Personal Care, Agriculture, Other Industries
Which Region Leads The Other Basic Inorganic Chemical Market?
Asia-Pacific emerged as the largest region in the other basic inorganic chemical market in 2024. Other key regions include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Other Basic Inorganic Chemical Market Global Market Report?
- Market Size Analysis: Analyze the Other Basic Inorganic Chemical Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Other Basic Inorganic Chemical Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Other Basic Inorganic Chemical Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Other Basic Inorganic Chemical Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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