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Alchemy, as it has been from the beginning of World of Warcraft, will be responsible for manufacturing the majority of consumables required in the end game, as well as some rare materials, through transmutation.
Alchemy is also one of the few professions that provide combat perks, such as healing / speed boosts when using a potion, longer duration phials (30 minutes from Phial Mastery and another 30 minutes with Air or Frost Phial specialties), and lesser HP loss while utilizing Toxic consumables.
While you will ultimately be able to unlock all abilities, it will take a long time because knowledge sources are extremely restricted, especially if one-time prizes and first-crafts are spent.
Besides short duration combat potions, such as Elemental Potion of Power, Alchemists can also make long duration phials, such as Phial of Elemental Chaos. They can also specialize into Decayology to learn about Toxic potions and phials, such as Potion of Withering Vitality.
Alchemy Stone trinkets, which offer either greater duration on phials or a decreased cooldown for your battle potions, may also be produced for yourself and other non-Alchemist players via Crafting Orders:
Alchemy is a good pick for any character that wants to maximize their Raid and Mythic+ performance because of its PvE combat personal advantages.
It also works well on Goblin characters owing to their large racial benefit, although you should have it on whichever character(s) you play the most.
Dragonflight introduces four new stats specific to crafting professions: Multicraft, Resourcefulness, Inspiration, and Crafting Speed.
Alchemy in particular can make great use of all four stats, but you might want to focus on specific stats for different playstyles
The most important source of Alchemy skill is your profession level, which is increased by performing difficult crafts.
Alchemy Specializations are separated into three disciplines, each having five sub-specializations that may be unlocked by putting points into their prerequisite disciplines, similar to skill trees.
The optimal specialty for you is determined by your goals: do you want to maximize personal gain for Raiding and Mythic+, Potion / Phial mass production, gamble on Experimentation, Reagent and Incense mass production, or just execute daily Transmutes as effectively as possible? Each tree has its own set of benefits that might help you achieve these objectives.
Potion Mastery is all about Potion mass-production and experimenting to discover new potion recipes.Experimentation-focused Potion Mastery TalentsEfficiency-focused Potion Mastery Talents
Phial Mastery is all about Phial mass-production and experimenting to discover new potion recipes.Experimentation-focused Phial Mastery TalentsEfficiency-focused Phial Mastery Talents
Alchemical Theory is responsible for most of the reagent and incense crafting optimization and also contains many of the personal benefits available to the profession, as well a dedicated transmute node.Personal Benefits Alchemical Theory TalentsReagent Mass-Production Alchemical Theory TalentsTransmutation-focused Alchemical Theory Talents
Ideally, Alchemy allows you to convert cheap materials into expensive potions, phials, and other products like the new Sagacious Incense, but due to its commodity producing nature, the consumable market is very likely to quickly become flooded with potions that are only marginally more expensive than the materials used to create them. High-quality Alchemist Stones should have higher margins but are more difficult to sell because they need you to use the Crafting Orders system.