Other Basic Inorganic Chemical Global Market Report 2024

The other basic inorganic chemical market size has grown strongly in recent years. It will grow from $205.75 billion in 2023 to $222.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the historical period can be attributed to factors such as industrialization and infrastructure development, agricultural expansion, the increasing need for water treatment, demand in construction and building materials, and the globalization of supply chains.

The other basic inorganic chemical market size is expected to see strong growth in the next few years. It will grow to $299.54 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to factors such as renewable energy initiatives, electronic waste recycling, technological advancements in agriculture, a focus on sustainable water management, and ongoing infrastructure and construction projects. Major trends expected in this period include global economic trends, shifts in geographic demand, fluctuations in raw material prices, a focus on quality and purity, and an emphasis on supply chain resilience.

The anticipated surge in demand for inorganic chemicals within the fertilizer industry is set to drive the growth of the market for other basic inorganic chemicals. Fertilizers, whether naturally occurring or synthetic, leverage basic inorganic chemicals to deliver essential nutrients for enhanced plant growth and productivity. The increased requirement for inorganic chemicals in the fertilizer sector consequently amplifies the demand for other basic inorganic chemicals. For instance, a report from S&P Global Inc. in December 2022 revealed that fertilizer shipments reached a total of 224 million metric tons, with fertilizer intermediates such as ammonia, sulfur, and phosphate rock contributing to over 100 million metric tons. The global market for major fertilizers in 2020 totaled 497 million metric tons. In 2021, the primary fertilizer demand's value more than doubled, reaching approximately $231 billion, reflecting changes in both supply and demand chains. Hence, the growing demand for inorganic chemicals in the fertilizer industry propels the expansion of the market for other basic inorganic chemicals.

The increasing awareness of environmental issues is expected to be a driving force behind the growth of the other basic inorganic chemicals market. Environmental consciousness involves recognizing the connection between humans and the environment and acknowledging the importance of conserving natural resources. As this awareness continues to grow, it plays a pivotal role in shaping the production and utilization of basic inorganic chemicals. Chemists are actively working on developing new production processes that consume fewer resources, generate less waste, and use less energy. A survey conducted across 24 countries by Mastercard Inc. in April 2021 revealed that 85% of adults are willing to take action to address environmental and sustainability challenges, with 58% expressing mindfulness about their environmental impact. Therefore, the rising environmental consciousness is a key driver of growth in the other basic inorganic chemicals market.

A notable trend gaining traction in the other basic inorganic chemicals market is the expansion of production plants equipped with advanced technology. Major companies in the industry are prioritizing the establishment of new sulfuric acid plants employing cutting-edge technologies to maintain their competitive positions. For example, in October 2022, Andritz AG, a technology group based in Austria, achieved a milestone by creating the world's first sulfuric acid plant for Klabin's Ortigueira mill in Brazil. This plant, based on Andritz's A-Recovery+ concept, can produce 150 metric tons of commercial-grade (>98%) sulfuric acid daily from concentrated odorous vapors and elemental sulfur. Part of Andritz's CircleToZero product line, this facility aims to eliminate waste byproducts, create value-added goods, and establish a framework for zero-emissions, zero-waste production.

Major players in the other basic inorganic chemicals market are also concentrating on introducing innovative products, such as alkali-stable silicone antifoam, to gain a competitive edge. Alkali-stable silicone antifoam, designed for efficacy in high-alkaline environments, was exemplified by the launch of Akasil Antifoam XP 20 by BRB International BV in May 2023. This high-performance antifoam emulsion, with 20% active content, offers superior antifoaming performance in various applications, including metalworking fluids and gas-sweetening processes. Akasil Antifoam XP 20 is stable in high-alkaline conditions and remains shear stable, making it suitable for deployment in high-shear environments.

In May 2022, the WeylChem Group of Companies, a German-based fine and specialty chemicals platform, acquired INEOS Sulphur Chemicals Spain S.L.U. from INEOS Enterprises. This undisclosed acquisition reinforces WeylChem's commitment to strengthening its position as a strategic partner in advanced intermediates and reagents, leveraging its manufacturing expertise, technical reliability, and timely production. INEOS Enterprises, based in the UK, operates in the sulfuric acid sector.

Major companies operating in the other basic inorganic chemical market report are Akzo Nobel NV, LyondellBasell Industries Holdings BV, Bayer AG, 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., PPG Industries Inc., Ecolab Inc., FMC Corporation, Albemarle Corporation, Ashland Global Holdings Inc., Cabot Corporation, Chemtura Corporation, The Dow Chemical Company, Huntsman Corporation, Ineos Group Limited, Lanxess AG, Nalco Holding Company, Olin Corporation, PQ Corporation, Rhodia SA, Rockwood Holdings Inc., Shin-Etsu Chemical Co. Ltd., Tosoh Corporation, W.R. Grace & Co., Zeon Corporation, Albright & Wilson Americas Inc., American Elements Corporation, Chemetall GmbH, Materion Corporation, Merck KGaA, Umicore SA.

Asia-Pacific was the largest region in the other basic inorganic chemical market in 2023. 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. The countries covered in the other basic inorganic chemical market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of other basic inorganic chemical products include basic inorganic chemicals and alkali chemicals. Basic inorganic chemicals, being mineral-derived and carbon-free, are based on abundant earth elements. These chemicals find applications in various industrial processes, including concentrators, separators, condensers, vaporizers, reactor vessels, and more. They serve diverse industries such as food, pharmaceuticals, personal care, agriculture, and others.

The other basic inorganic chemical market research report is one of a series of new reports that provides other basic inorganic chemical market statistics, including other basic inorganic chemical industry global market size, regional shares, competitors with a other basic inorganic chemical market share, detailed other basic inorganic chemical market segments, market trends and opportunities, and any further data you may need to thrive in the other basic inorganic chemical industry. This other basic inorganic chemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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