Market Overview

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. Rising demand for inorganic chemicals in the fertilizers industry is expected to be one of the prime factors driving market growth. Moreover, due to stringent government regulations and stagnant economy in the developed countries of North America and Europe, the market is estimated to fuel growth of the market in emerging economies of Asia Pacific and Middle East. Cheap labor costs in countries such as China and India, makes these the preferred production hubs for global manufacturers. This helps reduce the overall cost of production of inorganic chemicals. Increasing environmental consciousness and implementation of stringent regulations influences market players to switch technology shifting and producing environment friendly products.

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Market Dynamics

Population explosion witnessed over the last five decades has put considerable strain upon the already stretched thin agricultural sector. Moreover, rapid urbanization led to steep fall in farmland which force down the farmer for duel cultivation, characterized by large volumes of fertilizers being used to maintain optimum soil fertility. Nitrogen-based fertilizers are widely used by farmers, as it is easily available, cost-effective, and rather effective in increasing fertility of the soil. This in turn is expected to fuel the inorganic chemicals market during the forecast period. Ammonia is also used for cold storage and food preservation in the food & beverages industry.

Inorganic Chemicals Market Taxonomy

On the basis of product type, the global market is classified into:

Ammonia

Chlor alkali

Ammonium nitrate

Ammonium sulfate

Inorganic acid

Sodium hydroxide

Hydrogen peroxide

Oxygen

Nitrogen

Others

Key players in the 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, Sumitomo Chemicals.

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