Inorganic Salts Market Projected To Witness Substantial Growth, 2024-2030

Market Size and Growth:

The global inorganic salts market was valued at $92.2 billion in 2020 and is projected to reach $150.7 billion by 2030, exhibiting a CAGR of 5.1% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/15461

Key Drivers, Restraints, and Opportunities

Drivers:

Increased Usage of Dietary Supplements: The rising demand for dietary supplements is propelling market growth, as inorganic salts are commonly used in these products.
Expanding Applications: Inorganic salts are utilized across various industries, contributing to their growing market share.

Restraints:

Health and Environmental Concerns: Concerns regarding the safety and environmental impact of certain inorganic salts may hinder market expansion.

Opportunities:

Surge in Antacid Use: The increasing consumption of antacids presents lucrative opportunities for growth within the inorganic salts market.

Market Segmentation

By Type:

- Sodium Salts: Dominated the market in 2020, accounting for nearly three-fifths of the total share due to their extensive applications across multiple industries.
- Calcium Salts: Expected to grow at the fastest CAGR of 5.9% during the forecast period, owing to their importance in bone health.

By Application:

- Agriculture: The leading application segment in 2020, representing over two-fourths of the market, driven by the role of inorganic salts in enhancing soil nutrients.
- Pharmaceuticals: Projected to grow at the fastest CAGR of 6.0% from 2021 to 2030, as many pharmaceutical compounds are converted into sodium salts for improved stability and solubility.

By Region:

- Asia-Pacific: Led the market in 2020, accounting for more than two-fifths of the global share. This region is expected to maintain the fastest growth rate of 5.6% during the forecast period, driven by demand from China, India, and ASEAN countries.
- North America: Following Asia-Pacific, it held a significant market share in 2020.

Key Players in the Inorganic Salts Market

- 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.

Conclusion

The inorganic salts market is poised for growth driven by increasing applications across diverse industries, particularly in agriculture and pharmaceuticals. While the market faced challenges during the COVID-19 pandemic, it is expected to recover and thrive in the coming years, providing ample opportunities for key players.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/inorganic-salts-market-A15092

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