Inert form of chemical of growing importance (5)
I believe the answer is:
nitre
'chemical of growing importance' is the definition.
'nitre' can be an answer for 'chemical' (I've seen this before). I'm not certain of the 'of growing importance' bit.
'inert form' is the wordplay.
'form' indicates anagramming the letters (another form of the letters).
'inert' anagrammed gives 'NITRE'.
'of' acts as a link.
Can you help me to learn more?
(Other definitions for nitre that I've seen before include "explosive component" , "fertiliser" , "Sodium nitrate" , "found in a slow match?" , "Inert kind of saltpetre" .)