Press release
Inorganic Salts Market 2023 Global Key Player; KGaA, Thermo Fisher Scientific Inc., Laxness, BEHN MEYER, Eastman Chemical Company, LobaChemie Pvt. Ltd, Otsuka Chemical Co., Ltd., Emerald Performance Materials, Lenntech, Arkema, Bann Química Ltda, Rose Mi
Various types of inorganic salts are available in the market such as sodium salt, magnesium salt, calcium salt, potassium salt, ammonium salt, and others. Among these, the potassium salt is the leading segment due to its high demand for manufacturing of agrochemicals. Pythium and Phytophthora are some of the fungicides manufactured using potassium salts to protect seedlings. Furthermore, the calcium, ammonium, and zinc salts are used to enhance soil nutrient content, which is another driving factor for the global inorganic salts market due to the limited land available for cultivation. Approval to use potassium and magnesium salts from various regulatory bodies such as Food & Drug Administration and Environmental Protection Agency has augmented the market growth. Furthermore, the sedentary lifestyle and health issues concerning changing lifestyle have increased the use of magnesium salts in the treatment of cardiovascular diseases. Additionally, the magnesium salts are used for removal of lead toxicity, which is likely to propel the market growth during the review period.
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Market Segmentation
The global inorganic salts market is segmented based on type, and end-use industry. The market is segregated by type into sodium salts, magnesium salts, calcium salts, potassium salts, ammonium salts, and others. On the basis of the end-user industry, the market is further segmented into agrochemicals, food, healthcare, cement manufacturing, and others.
Market Scenario
The inorganic salts market is spanned across five regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia Pacific is expected to be the fastest emerging region over the forecast period due to the high demand for inorganic salts as an agrochemical.
North America is anticipated to grow at a significant CAGR on account of the high demand for the product from pharmaceuticals and food & beverage industry in this region.
Europe is expected to showcase a slow growth owing to the stringent regulations implemented on the use of the inorganic salts.
Competitive Analysis
Some of the prominent players operating in the global inorganic salts market are Merck KGaA (Germany), Thermo Fisher Scientific Inc. (U.S.), Laxness (Germany), BEHN MEYER (Germany), Eastman Chemical Company (U.S.), LobaChemie Pvt. Ltd (India), Otsuka Chemical Co., Ltd. (Japan), Emerald Performance Materials (U.S.), Lenntech (Netherlands), Arkema (France), Bann Química Ltda (Brazil), Rose Mill Co. LLC. (U.S.), GFS Chemicals, Inc. (U.S.), Pro Chem, Inc. (U.S.), and Hunter Chemical, LLC (U.S.).
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