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The global market for inorganic salts is expected to grow at a CAGR of 4.4% during the forecast period. In 2015, Asia-Pacific dominated the global inorganic salts market with the largest market share in terms of volume. Increasing construction activities, rapidly evolving chemical industry and increasing demand for agrochemicals is one of the major factors driving the demand for inorganic salts in Asia-Pacific region.
Increasing consumption of salt and its application in several for the manufacturing of chemicals is one of the major factors boosting the market on a global level. Inorganic salts have a wide base of applications including usage in fertilizers, ceramics, rubber, agrochemicals, paint, paper, pharmaceutical and several others. Additionally, these salts are used in small portions in animal feed as catalyst, sulphur adsorbents and fire retardants. Inorganic salts can be categorized into a number of salt groups including oxides, carbonates, fluorides, nitrates, silicates, chlorides, acetates, phosphates, hypochlorides sulphides, halides, and several others. Each of these inorganic salts groups can be sub-categorized by their attached functional group. On the basis of their type, these salts, are used for particular purposes across industries. For instance, phosphates are used in fertilizers, carbonates in construction sector and silicates are used in manufacturing glass.
By application, chemical segment dominated the global market for inorganic salts in 2015, and it is expected to continue its dominance throughout the forecast period.
The growth in the chemical sector is ascribed to the usage of end products which include caustic soda, sodium carbonate and others for manufacturing glass, paper, and other vital chemicals. Additionally, several inorganic chemical salts are required for anti-icing and de-icing products, thereby boosting the market demand of organic salts. Moreover, the chemical segment is projected to grow demonstrating a CAGR of 4.7%, by value during the forecast period. In addition, other application segments which comprises fertilizers and healthcare are expected to grow at moderate rate.
Some of the leading players in the global inorganic salts market include Loba Chemie, Behn Meyer, Electrochemistry Co., Eastman Chemical company, Arkema SA, Thermo Fisher Scientific Inc., Hebei Yatai Ltd., Otsuka Chemical Co Ltd, Lanxess AG, and others.
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