Soaring Demand Set to Propel Other Basic Inorganic Chemical Market to $325.2 Billion by 2029

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What Is the Expected CAGR for the Other Basic Inorganic Chemical Market Through 2025?
The market size of other basic inorganic chemicals has seen significant growth in the past few years. The value is projected to increase from $224.48 billion in 2024 to $244.04 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. This growth during the historic period can be credited to factors like industrialization, infrastructural development, agricultural growth, water treatment necessities, construction, and building material requirements, and the globalization of supply chains.

What's the Projected Size of the Global Other Basic Inorganic Chemical Market by 2029?
In the coming years, the fundamental inorganic chemical market size is predicted to experience a significant surge. The market value is set to reach $325.21 billion in 2029, illustrating a compound annual growth rate (CAGR) of 7.4%. This forecasted growth is largely due to factors such as initiatives in renewable energy, recycling of electronic waste, advancements in agricultural technology, emphasis on sustainable water management, along with infrastructure and construction ventures. The key trends during the forecast period encompass global economic developments, changes in geographical demand, variations in raw materials costs, focus on quality and purity, and the resilience of the supply chain.

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Top Growth Drivers in the Other Basic Inorganic Chemical Industry: What's Accelerating the Market?
The growth of the other basic inorganic chemicals market is predicted to be fuelled by the surging demand for inorganic chemicals in the fertilizer sector. Fertilizers, whether naturally derived or synthetically created, are nutrient-rich substances that enhance plant growth and yield. These are composed of fundamental inorganic chemicals that transmit vital nutrients to crops, thus elevating production. Consequently, the fertilizer industry's need for inorganic chemicals triggers a corresponding demand for other basic inorganic chemicals. For instance, Krungsri Research, a financial institution based in Thailand, anticipated in June 2023 that the consumption of inorganic fertilizers will rise annually by 2.0-3.0% until 2025. Therefore, the expanding demand for inorganic chemicals in the fertilizer industry propels the other basic inorganic chemicals market's growth.

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What Trends Will Shape the Other Basic Inorganic Chemical Market Through 2029 and Beyond?
A key trend materializing in the other basic inorganic chemical market is the expansion of production facilities using novel technologies. Prominent companies in the industry are launching new sulfuric acid facilities, leveraging the advances in technology to maintain their market standing. As an example, in October 2022, Andritz AG, a technology group based in Austria, established the world's initial sulfuric acid plant for Klabin's Ortigueira mill in Brazil. The facility is capable of generating 150 metric tons of commercial-grade (>98%) sulfuric acid each day from concentrated odorous vapors and elemental Sulphur. The technology utilized in this plant is grounded on Andritz's proprietary A-Recovery+ concept, which lets pulp mills convert byproducts from the pulping process into profitable goods. The facility is a segment of Andritz's CircleToZero product line, with a vision to eliminate waste byproducts, generate valuable new products, and lay the groundwork for a production environment with zero emissions and waste.

What Are the Main Segments in the 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 Top Companies are Driving Growth 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

Which Regions Will Dominate the Other Basic Inorganic Chemical Market Through 2029?
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

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