Market Scope
The inorganic salts market is expected to thrive at 4.5% CAGR over the forecast period. The need for these compounds for the maintenance of health among humans and animals can bolster its demand exponentially. The ions of inorganic salts can regulate muscle contraction, heart functions, and nerve impulses. Major applications in various industries can ensure a steady demand for the market. For instance, the use of antacids in the pharmaceutical industry for resolving indigestion issues can fuel the demand for these salts. Consumption of Epsom salts for attracting moisture and preventing scaling of concrete can augur favorably for the market.
However, toxic levels of inorganic salts can impede the market growth.
Segmentation
The global inorganic salts market has been segmented by type and application.
Based on type, the market has been segregated into sodium salts, magnesium salts, calcium salts, potassium salts, ammonium salts, and others. Calcium salts and sodium salts can contribute to market demand owing to the dire need for nutrient-dense agricultural produce. Magnesium salts are derived from magnesium oxide and used in paper manufacturing, construction, and pharmaceuticals.
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Competition Outlook
Emerald Performance Materials, Thermo Fisher Scientific Inc., Loba Chemie Pvt. Ltd, Hunter Chemical, LLC, Pro Chem, Inc., Eastman Chemical Company, Arkema, Otsuka Chemical Co., Ltd, Lanxess, GFS Chemicals, Inc., BEHN MEYER, Lenntech, and Merck KGaA are major players of the global inorganic salt market.
Based on application, the global inorganic salts market has been bifurcated into agriculture, pharmaceuticals, cement, rubber processing, food, and others. The agriculture application can account for the largest market share owing to the use of these salts to enrich soil quality which can lead to better yields. Consumption of nutritious products due to changing lifestyles of customers and need for convenience and on-the-go foods can bode well for the segment growth in the global inorganic salts market.
Regional Analysis
Based on the region, the inorganic salts market has been divided into Asia Pacific (APAC), North America, Europe Latin America, and the Middle East & Africa (MEA).
APAC can account for a large share of the market due to demand for inorganic chemicals for agricultural purposes in Indonesia, Malaysia, Thailand, India, and China. Large demand for foods due to changing diets of consumers and consumption of nutrition-rich vegetables and fruits. The booming construction sector and investments in residential and commercial sectors can induce the demand for inorganic salts.
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North America is expected to be a major revenue generator for the global inorganic salts market owing to want for agricultural produce. This is supported by the U.S. being one of the biggest producers and exporters of produce. The large healthcare industry and the growing populace of the elderly can bode well for the regional market growth.
Europe is expected to fuel the global inorganic salts market demand due to the consumption of beverages and packaged food products. The large shelf of these products can spur the demand of inorganic salts. But regulations pertaining to the use of certain salts can restrict the regional market growth.
Lastly, the MEA and Latin America markets can exhibit modest growth rates owing to building & construction, and agriculture industries.
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