Inorganic Salts Market is anticipated to hold a value of 4.5% during the forecast period. According to Market Research Future Reports (MRFR), the global inorganic salts market 2020 is likely to be driven by the extensive usage of inorganic salts as an antacid in the pharmaceutical sector. Also, the expeditious rise in the healthcare sector because of increasing health concerns and awareness is an important cause resulting in market growth. Not only pharmaceuticals, but the application of inorganic salts are also widely used in other sectors such as agriculture, food, rubber processing, chemicals, and cement. Among all sectors, agriculture acquires the share due to its capacity to enhance soil productivity. The rise in the consumption of nutritious food products owing to the new dietary habits is projected to drive the market further. Besides, the increased consumption of inorganic salt as an Epsom salt in the construction industry is an important factor augmenting the market. The ability to prevent concrete scaling and to attract moisture is projected to further fuel the product demand. In addition, the increase in disposable income is fueling the market growth of the inorganic salts market. However, the hazardous impact of some inorganic salts is projected to impede market growth.
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The global market for inorganic salts market can be segmented on the basis of application, type, and geography.
On the basis of application, the global market for inorganic salts market can be segmented into rubber processing, pharmaceuticals, agriculture, cement, food, and others.
On the basis of type, the global market for inorganic salts market can be segmented into magnesium salts, sodium salts, calcium salts, ammonium salts, potassium salts, and others.
On the basis of geography, the global market for inorganic salts market can be segmented into Asia-Pacific, North America, Europe Latin America, and the Middle East & Africa.
The global market for inorganic salt is projected to grow exponentially during the forecast period. Geographically, Asia-Pacific, North America, Europe Latin America, and the Middle East & Africa have been evaluated extensively. As per the study, the global market for inorganic salt is expected to be dominated by Asia-Pacific. The APAC region acquired the largest market share in 2018 and is likely to retain its position during the assessment period. The most significant factor responsible for regional expansion is the growing demand for agrochemicals from countries such as Indonesia, China, Malaysia, Thailand, and India. The growing strength of the construction industry, along with the increased expenditure on residential and non-residential market projects id further projected to fuel the market. The North American market is projected to be a lucrative market. Among all, the US is projected to make the most valuable contribution in expanding the market. Besides, the expansion of the healthcare industry with the increasing geriatric population is propelling the regional market. The European market is expected to see exhibit significant growth during the assessment period. The growing consumption of packaged food products and beverages owing to the better-prolonged shelf life has led to enhanced agriculture produce, is steering the regional market. The markets in the MEA region are expected to be driven by the expanding agriculture and building and construction industries.
The most established players of the global inorganic salts market are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Emerald Performance Materials (US), Eastman Chemical Company (US), Laxness (Germany), Loba Chemie Pvt. Ltd (India), Otsuka Chemical Co., Ltd (Japan), BEHN MEYER (Germany), Lenntech (Netherlands), GFS Chemicals, Inc. (US), Arkema (France), Pro Chem, Inc. (the US), and Hunter Chemical, LLC (US).
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