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(MoneyNewsWire.Net, July 17, 2018 ) Other Basic Inorganic Chemical industry comprises establishments primarily engaged in manufacturing basic inorganic chemicals (except industrial gases, inorganic dyes and pigments, alkalis and chlorine, and carbon black).
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The global other basic inorganic chemical market was valued at $167 billion in 2017. Among regional markets, Asia Pacific was the largest geographic region accounting for more than one-third of the global market. The reason for the substantial growth of this market is that the companies are adopting sustainable and eco-friendly processes to eliminate negative impact of chemical manufacturing on the environment. Evolution in technology and chemical sciences enabled manufacturers to utilize alternative fuels to produce chemical products. They are using naturally available carbon dioxide to produce fuels, industrial products and other substances.
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China was the largest country accounting for one-fifth of the global other basic inorganic chemical market. China was followed by India and Japan.
The top five competitors in the market are: Olin Corporation followed by Chemours Company (The), Kronos Worldwide Inc, The Dow Chemicals Company and BASF SE. The Olin Corporation is an American manufacturer of ammunition, chlorine, and sodium hydroxide. Based in Clayton, Missouri, it traces its roots to two companies, both founded in 1892: Franklin W. Olin's "Equitable Powder Company" and the "Mathieson Alkali Works". After being headquartered for many years in Stamford, Connecticut, it is now headquartered in Clayton, Missouri.
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