Press release
Booming Fertilizer Industry Drives Growth In Other Basic Inorganic Chemicals Market: An Emerging Driver Transforming The Other Basic Inorganic Chemical Market Landscape
Other Basic Inorganic Chemical
What Is the Other Basic Inorganic Chemical Market Size and Projected Growth Rate?
In recent times, the market size of other basic inorganic chemical has experienced significant growth. The forecasted growth is from $224.48 billion in 2024 to $244.04 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. This past growth can be credited to factors such as industrialization and infrastructure improvements, agricultural progression, water treatment requirements, the demand for construction and building materials, and the globalization of supply chains.
The market size for other basic inorganic chemicals is projected to witness substantial expansion in the coming years. It is predicted to reach a value of $325.21 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. The anticipated growth during this forecast period is a result of factors like renewable energy initiatives, e-waste recycling, advancements in farming technology, emphasis on sustainable water management, and infrastructural and construction projects. Several trends are expected to shape the forecast period, including global economic patterns, change in geographical demand, variability in the prices of raw materials, a focus on product quality and purity, and the resilience of supply chains.
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What Are the Different Other Basic Inorganic Chemical Market Segments?
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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What Are the Primary Drivers Shaping the Other Basic Inorganic Chemical Market?
The other basic inorganic chemicals market's growth is projected to be driven by the escalating demand for inorganic chemicals in the fertilizer sector. Fertilizers, which can be naturally sourced or artificially produced, contain chemical components that enhance plant growth and productivity. These fertilizers include essential inorganic chemicals that deliver crucial nutrients to crops and boost yields. Consequently, a surge in demand for inorganic chemicals from the fertilizer sector will inflate the requirement for other basic inorganic chemicals. For instance, Krungsri Research, a financial institution from Thailand, anticipated that the demand for inorganic fertilizers will see a yearly growth rate of 2.0-3.0% until the year 2025. Hence, the growing demand for inorganic chemicals in the fertilizer industry is expected to fuel the expansion of the other basic inorganic chemicals market.
Which Companies Are Leading 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 Are the Major Trends Shaping the Other Basic Inorganic Chemical Market?
The proliferation of advanced technology in production facilities is a significant trend influencing the other basic inorganic chemical market. The primary corporations in this sector are prioritizing the establishment of new sulfuric acid plants, leveraging cutting-edge technology to maintain their market standing. In October 2022, Andritz AG, a technology group from Austria, for example, established the globe's inaugural sulfuric acid plant for Klabin's Ortigueira mill in Brazil. The plant's capability encompasses the production of 150 metric tons of premium-grade (>98%) sulfuric acid daily, derived from concentrated odorous fumes and elemental Sulfur. The technological aspect of this plant is grounded in Andritz's self-innovated A-Recovery+ concept, which facilitates pulp mills to extract ancillary streams from the pulping procedure and convert them into commercially viable products and wares. The plant falls under the CircleToZero product range by Andritz, tailored to eliminate waste byproducts, develop novel value-added products, and lay the groundwork for zero-emission, waste-free production.
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What Are the Top Revenue-Generating Geographies 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Other Basic Inorganic Chemical Market?
2. What is the CAGR expected in the Other Basic Inorganic Chemical Market?
3. What Are the Key Innovations Transforming the Other Basic Inorganic Chemical Industry?
4. Which Region Is Leading the Other Basic Inorganic Chemical Market?
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