Inorganic Chemicals Market: Trends, Drivers, and Challenges

 

Inorganic chemicals are a combination of two or more elements other than carbon. Carbon monoxide, carbon dioxide, carbides, carbonates, and cyanides are exceptions, as these are inorganic chemicals despite having carbon.

Market size: The global inorganic chemicals market size was valued at $277.0 billion in 2017 and is projected to reach $362.0 billion by 2022, growing at a CAGR of 5.5% during the forecast period.

Key drivers: The growth of the inorganic chemicals market is driven by factors such as:

• Rising demand for inorganic chemicals in the fertilizers industry

• Increasing demand for inorganic chemicals in the construction industry

• Growing demand for inorganic chemicals in the water treatment industry

• Technological advancements in the production of inorganic chemicals

Key trends: The key trends in the inorganic chemicals market include:

• Increasing focus on sustainable production of inorganic chemicals

• Growing demand for specialty inorganic chemicals

• Expansion of inorganic chemicals production capacity in emerging economies

Regional outlook: The global inorganic chemicals market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for inorganic chemicals, followed by North America and Europe.

Key players: The key players in the global inorganic chemicals market include Akzo Nobel, BASF SE, Bayer, The Dow Chemicals Company, DuPont, Evonik Industries, Formosa Plastics, Ineos, LG Chem, LyondellBasell Industries, Mitsubishi Chemicals, Sabic, The Royal Dutch Shell, Sinopec, and Sumitomo Chemicals.

Demand :

• Increasing demand for inorganic chemicals in the fertilizers industry: Inorganic chemicals are used in the production of fertilizers, which are essential for crop production. The growing population and increasing demand for food are driving the demand for fertilizers, which in turn is driving the demand for inorganic chemicals.

• Expanding applications of inorganic chemicals in the construction industry: Inorganic chemicals are used in the production of a variety of construction materials, such as cement, concrete, and bricks. The growing construction industry is driving the demand for inorganic chemicals.

• Rising demand for inorganic chemicals in the electronics industry: Inorganic chemicals are used in the production of a variety of electronic components, such as semiconductors and printed circuit boards. The growing electronics industry is driving the demand for inorganic chemicals.

• Stringent government regulations: Governments around the world are imposing stringent regulations on the use of chemicals. This is driving the demand for inorganic chemicals, which are considered to be more environmentally friendly than organic chemicals.

The inorganic chemicals market is expected to grow steadily in the coming years, driven by factors such as population growth, urbanization, industrialization, and technological advancements. The increasing demand for inorganic chemicals in emerging economies, coupled with the expansion of end-use industries, is driving market growth.

Here are some of the key factors that are expected to drive the growth of the inorganic chemicals market in the coming years:

Population growth and urbanization: The global population is expected to grow by 2 billion people by 2050, and most of this growth will be in emerging economies. This will lead to increased demand for food, water, and energy, which will in turn drive demand for inorganic chemicals.

Industrialization: The industrialization of emerging economies is also expected to drive demand for inorganic chemicals. These economies are investing heavily in infrastructure, manufacturing, and other industries that require the use of inorganic chemicals.

Technological advancements: Technological advancements in the chemical industry are also expected to drive market growth. These advancements are leading to the development of new and more efficient ways to produce inorganic chemicals, which is making them more affordable and accessible.

Environmental consciousness: There is a growing awareness of the environmental impact of chemicals, and this is driving demand for more sustainable and environmentally friendly inorganic chemicals.

The inorganic chemicals market is segmented by type, end-use industry, and region. By type, the market is segmented into non-metallic oxides, elementary substances, inorganic salts, metal oxides, alkali, and inorganic acids. By end-use industry, the market is segmented into construction, fertilizers, water treatment, metals, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.