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Inorganic Salts market Forecast
Increased use of dietary supplements and expanded applications of inorganic salts are key drivers of market growth.
WILMINGTON, DE, UNITED STATES, September 15, 2024 /EINPresswire / -- Allied Market Research recently published a report titled,“Inorganic Salts Market by Insulation Material (Sodium Salts, Magnesium Salts, Calcium Salts, Potassium Salts, and Ammonium Salts) and End-use
industry (Agriculture, Pharmaceuticals, Construction, Rubber Processing, Food, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” The global inorganic salts market, valued at $92.2 billion in 2020, is projected to grow to $150.7 billion by 2030, with a compound annual growth rate (CAGR) of 5.1% during the forecast period.
Key Drivers, Restraints, and Opportunities:
- Drivers: Increased use of dietary supplements and expanded applications of inorganic salts are key drivers of market growth.
- Restraints: Health and environmental concerns related to inorganic salts could hinder growth.
- Opportunities: The growing demand for antacids presents lucrative opportunities in the industry.
Segment Analysis:
- Sodium Salts: In 2020, the sodium salts segment accounted for nearly 60% of the market, driven by its extensive use across various industries.
- Calcium Salts: Expected to grow at the fastest rate with a CAGR of 5.9%, calcium salts are essential in maintaining healthy bones.
End-use Industry Insights:
- Agriculture: Dominated the market with over 40% share in 2020, primarily due to the role of inorganic salts in enhancing soil nutrient content.
- Pharmaceuticals: Projected to experience the fastest growth, with a CAGR of 6.0% from 2021 to 2030, owing to the conversion of pharmaceutical substances into sodium salts for better solubility and stability.
Regional Analysis:
- The Asia-Pacific region, followed by North America, held the largest market share in 2020, accounting for over 40% of the global market. The region is also expected to grow at the fastest rate, with a CAGR of 5.6%, driven by strong demand from China, India, and ASEAN nations.
Leading Market Players:
Prominent players in the inorganic salts market include:
- Eastman Chemical Company
- BEHN MEYER
- GFS Chemicals, Inc.
- Lanxess
- Lenntech
- LobaChemie Pvt. Ltd.
- Merck KGaA
- Otsuka Chemical Co., Ltd.
- Emerald Performance Materials
- Thermo Fisher Scientific Inc.
Obtain Report Details:
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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