The global market for inorganic salts is projected to grow demonstrating a CAGR of 4.4% during the forecast period. Continuous growth in the agrochemical industry, increasing salt consumption, and increasing application base of inorganic salts in chemical manufacturing industry are some of the major reason for boosting the growth of the global market for inorganic salts. Chemical production is the largest market for inorganic salts, since the industry required salts as its primary feedstock for the production of chlor alkali and synthetic soda ash. Inorganic salts such as magnesium oxides are used in pharmaceutical sector as antacids, and they are also required in cement manufacturing sector as “Epsom” salt. Salts such as ammonium phosphate, calcium salts, nitrates and zinc salts offer excellent properties of enhancing soil nutrients, which make them highly suitable for usage in fertilizers. Zinc oxide is a vital component for vulcanization of rubber during rubber processing.
Inorganic salts are also used in modern biotechnological such as pressure liquid chromatography devices as reagents. Increasing research and development in the biotechnology field is expected to increases opportunities for the inorganic salts market. Additionally, several forms of sulphides including selenium sulphides have developed applications in the cosmetics industry for developing anti dandruff products. This is likely to serve as a growth opportunity for the global market of inorganic salts.
However, hazardous nature of several inorganic salts is expected to restrain the market growth to a certain extent. Alkyl halides, such as chlorofluorocarbon and chloroform cause a heavy damage to the ozone layer depletion due to which they are considered hazardous for the environment.
By application, chemical segment dominated the global market for inorganic salts in 2015, and it is projected to grow demonstrating a CAGR of 4.7% by value during the forecast period. By type, calcium salts dominated the global market for inorganic salts with the largest market share in 2015, and it is likely to continue its dominance throughout the forecast period.
Geographically, Asia-Pacific dominated the global inorganic salts market with the largest market share, followed by North America and Europe. In APAC, China is the largest consumer of inorganic salts, owing to the vast size of chemical industry in the country. Additionally, the increasing construction activities in China are expected to boost the demand for inorganic salts. The demand for inorganic salts is also expected to witness a rise from the healthcare sector in India, which is a major producer of generic drugs. Moreover, several countries in Europe use acetate inorganic salts for production of apparels, upholstery, dress linings and home furnishings. Adding to this, U.S. and several countries in the Middle-East use sulphates for chemical processing. Therefore, considering such factors, the demand for inorganic salts is expected to increase in the coming years.
Leading players in the global market inorganic salts are Loba Chemie, Behn Meyer, Electrochemistry Co., Eastman Chemical company, Arkema SA, Hebei Yatai Limited, Thermo Fisher Scientific Inc., Otsuka Chemical Co Limited, Lanxess AG, and others.
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The information and data in the publication “Global Inorganic salts Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. Bottom-up and top down approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
GLOBAL INORGANIC SALTS MARKET SEGMENTATION
By Product Type