Inorganic Chemicals Market

Inorganic Chemicals Market - Industry
Trends, Outlook, Regulatory Bodies &
Regulations and Key Market Players
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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Inorganic Chemicals Market Outlook – Surge in Demand for Ammonia for
Agricultural Application Augmenting Market Growth
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. Moreover, the explosive
manufacturing industry uses ammonium nitrate in bomb manufacturing. Asia Pacific is
expected to be one of the most lucrative markets of manufacturers of inorganic
chemicals, due to strengthening of the economy and strong agricultural base in China,
India, and South East Asian countries.
Inorganic Chemicals Market Challenges – Fluctuating Crude Oil Price and
Stringent Government Regulations
Fluctuating prices of crude oil and natural gas is expected to significantly dampen
growth of inorganic chemicals market. Crude oil and natural gas are the basic building
blocks of numerous inorganic chemicals industry. Moreover, the Frank R. Lautenberg
Chemical Safety for 21​st Century Act upon Toxic Chemicals and Chinese State
Environment Protection Administration and General Administration of Custom has
enforced strict regulation upon import and export of certain hazardous chemicals and
pesticides. These are few challenges for inorganic chemical manufacturing company
during the forecast period.
Inorganic Chemicals Market – Regulatory Scenario:
February 24, 2004, U.S. Department of State enforce the Rotterdam Convention as an
international treaty designed to facilitate informed decision-making by countries with
regard to trade in hazardous chemicals.
January 01, 2006, The State Environment Protection Administration and the General
Administration of Custom of China, In order to strictly prevent illegal export of toxic
chemicals and earnestly improve the implementation of the Rotterdam Convention on
the Prior Informed Consent Procedure for Certain Hazardous Chemicals Pesticides in
International Trade and the Stockholm Convention on Persistent Organic Pollutants.
June 22, 2016, the Frank R. Lautenberg Chemical safety for 21​st century act updated
the 1976 toxic substances control act, which allows EPA to protect the people of US
from toxic chemicals.
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. Strategic mergers and acquisitions is the new trend in
the industry. For instance, BASF SE and Avantium on March 15, 2016, collaborated to
establish production and marketing of furandicarboxylic acid and PEF based. Moreover,
May 10, 2016, BASF SE launch new cross linking and water based dispersion coating
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Inorganic Chemicals Market report categorizes global market by product type, and geography - Industry Trends, Outlook, Regulatory Bodies & Regulations and Key Market Players