The global inorganic salts market is expected to grow at a CAGR of 4.4% during 2016 - 2022. The major factors driving the growth of the global market include increased salt consumption and its application in various chemical manufacturing industries, and the growth of fertilizer and agrochemicals industries. Inorganic salts are utilized in a number of industries. Chemical manufacturing is by far the largest market for inorganic salts. The industry which produces chlor alkali and synthetic soda ash uses salts as their primary feedstock. Salts, such as magnesium oxide are used in pharmaceutical industries as an antacid and also in cement manufacturing industry as epsom salt. Calcium salts, zinc salts, nitrates, ammonium phosphate and others have excellent soil nutrient content enhancing property, which is driving the growth of the fertilizer industry. Zinc oxide is a major ingredient for vulcanization of rubber, and it is used in rubber processing, paints and ceramic industries.
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The research in biotechnology is opening new avenues for inorganic salts. Inorganic salts are used as reagent in modern biotechnological devices, such as High Pressure Liquid Chromatography. Biotechnology is expected to open new areas of opportunity for the market of inorganic salts. Some form of sulphides, such as selenium sulphides are lately being used in cosmetic industry for formulating anti dandruff products.
However, the toxic nature of some of the salts is restraining the growth of the market for inorganic salts. Alkyl halides, such as chloroform and chloro fluorocarbon are responsible for ozone layer depletion, and thus considered environmentally hazardous.
Among the various applications, the chemical segment accounted for largest share in the global market in 2015, and it is expected to grow at a CAGR of 4.7% in terms of value during the period 2016 - 2022. Among the various product types, the calcium salts segment held the largest share in the global inorganic salts market in 2015, and it is expected to retain its dominance during the forecast period. Inorganic salts are used extensively around the globe. Asia-Pacific accounted for the largest market share of inorganic salts, followed by North America and Europe. China is the largest consumer, owing to its large size of chemical industry. China also uses inorganic salts in building and construction purpose. In addition, the Indian sub-continent is a major producer of generic drugs, which uses inorganic salts for medicines. Some countries in Europe are using acetate inorganic salts to produce fashion apparel, home furnishing, dress lining, and upholstery. A country in Middle-East and the U.S. uses sulphates for chemical processing. Countries with large population, such as Brazil, Argentina, India, and China are the major consumers of inorganic salts.
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.
Some of the major players operating in the global inorganic salts market include Eastman Chemical company, Hebei Yatai Electrochemistry Co. Ltd., Behn Meyer, Lanxess AG, Otsuka Chemical Co. Ltd., Arkema SA, Thermo Fisher Scientific Inc., Loba Chemie, and others.
GLOBAL INORGANIC SALTS MARKET SEGMENTATION
By Product Type