Major players in the other basic inorganic chemical market are Akzo Nobel N.V., LyondellBasell Industries Holdings, Bayer AG, Evonik Industries AG, Mitsubishi Chemicals Corp, GFS Chemicals Inc., Behn Meyer Holding AG, Eastman Chemical Company, Sumitomo Chiba Chemical Co. Ltd., Saudi Basic Industries Corporation, Sinopec or China Petroleum & Chemical Corporation, LG Chem Ltd., Eastman Chemical Company, Arkema S.A, Solvay S.A, Tata Chemicals Limited, and Otsuka Chemical Co. Ltd.
The global other basic inorganic chemical market is expected to grow from $190.49 billion in 2022 to $206.19 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The other basic inorganic chemical market is expected to reach $273.47 billion in 2027 at a CAGR of 7.3%.
The other basic inorganic chemical market consists of sales of sodium nitrate, ammonium chloride, calcium carbide, hydrogen peroxide, aluminium fluoride and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Basic inorganic chemicals are defined as substances that are of mineral origin and lack carbon in their molecular structure and are based on the most abundant chemicals on earth such as oxygen, silicon, aluminium, and others. Inorganic synthesis is the process of synthesizing inorganic chemical compounds to produce many basic inorganic chemical compounds.
Asia-Pacific was the largest region in the other basic inorganic chemical market in 2022. The regions covered in other basic inorganic chemical report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of other basic inorganic chemical products are basic inorganic chemicals and alkali chemicals.Basic inorganic chemicals are defined as substances that are of mineral origin, lack carbon in their molecular structure, and are based on the most abundant chemicals on earth, such as oxygen, silicon, aluminum, and others.
They are used in several applications, including concentrators, separators, condensers, vaporizers, reactor vessels, and others, for various industries such as the food industry, pharmaceuticals, personal care, agriculture, and others.
The rising demand for inorganic chemicals in the fertilizer industry is expected to propel the growth of the other basic inorganic chemicals market going forward.Fertilizer is a substance made naturally or artificially that contains chemical elements that improve the growth and productivity of plants.
Inorganic fertilizers comprise basic inorganic chemicals that transport essential nutrients to sustain crops and increase output.Thus, a demand for inorganic chemicals in the fertilizer industry will increase the need for other basic inorganic chemicals.
For instance, in December 2022, according to a report shared by S&P Global Inc., a US-based publicly traded corporation, Fertilizer shipments totalled 224 million metric tonnes. Fertilizer intermediates such as ammonia, sulfur, and phosphate rock are sold to more than 100 million metric tonnes. There was a total global market of 497 million metric tonnes of major fertilizers in 2020. In 2021, the value of primary fertilizer demand will have more than doubled, rising from $115 billion to roughly $231 billion, driven by variables in both the supply and demand chains. Therefore, the rising demand for inorganic chemicals in the fertilizer industry drives the growth of the other basic inorganic chemicals market.
Expansion of production plants with advance technology has emerged as a key trend gaining popularity in the other basic inorganic chemical market.Major companies operating in the market are focused on introducing new sulfuric acid plants with the help of new technologies to sustain their position in the market.
For instance, in October 2022, Andritz AG, an Austria-based technology group, made the world’s first sulfuric acid plant for Klabin’s Ortigueira mill in Brazil.The plant can produce 150 metric tonnes of commercial-grade (>98%) sulfuric acid daily from concentrated odorous vapors and elemental sulphur.
This plant’s technology is based on Andritz’s self-created A-Recovery+ idea, enabling pulp mills to extract side streams from the pulping process and transform them into commercial goods and commodities. The facility is part of Andritz’s CircleToZero product line, which aims to remove waste byproducts, create new goods with added value, and set the framework for zero-emissions, zero-waste production.
In May 2022, the WeylChem Group of Companies, a Germany-based fine and specialty chemicals platform of the International Chemicals Investors Group, acquired INEOS Sulphur Chemicals Spain S.L.U. from INEOS Enterprises for an undisclosed amount. This acquisition reinforces Welchyem’s dedication to strengthening its position as a strategic partner in advanced intermediates and reagents based on its strong manufacturing knowledge, technical dependability, and on-time production. INEOS Enterprises is a UK-based company operating in sulfuric acid.
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.
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.
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.