July 11, 2018
WELLESLEY, Mass., July 11, 2018–The demand for inorganically manufactured chemicals is expected to increase, with significant growth potential for caustic soda and chlorine, according to a first of its kind report by BCC Research.
Inorganic chemicals are needed to support an increased demand in end-user industries such as glass, paper, food and cosmetics. As outlined in the report Inorganic Chemicals Manufacturing: Global Markets to 2022, this market reached a value of nearly $277.0 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% to reach an estimated $362.0 billion by 2022.
Major players mentioned in this report include Hanwha Chemical Corp., Yara International ASA, CF Industries Holdings, Inc., Eurochem Group and Olin Corp, among others.
“The inorganics manufacturing market is expected to benefit from steady economic growth forecast in many developed and developing countries,” the report notes. “Rising disposable income in developing countries is increasing the demand for products such as glass, cosmetics and paper products which use soda ash and other chemicals compounds, thereby driving the market.”
Asia-Pacific Region Leads Market Growth
The Asia-Pacific region is the largest inorganic chemicals market, accounting for 43.5% of the global market. The region is estimated at grow at a CAGR of 8.4%. China and India are forecasted to have the fastest growth, growing at CAGRs of 8.7% and 6.3%, respectively. In this region, nitrogen compounds constituted the largest market segment, with a 49.2% share of the market worth $59.3 billion in 2017.
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Inorganic Chemicals Manufacturing: Global Markets to 2022( CHM106A )
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