ID: MRFR/CnM/0327-HCR | 140 Pages | Published By Chitranshi Jaiswal on March 2023
The Inorganic Salts Market is projected to be worth USD 150.7 Billion by 2030, registering a CAGR of 5.1% during the forecast period (2021 - 2030).
Inorganic Salts Market Size is estimated as 4.50%. There are lots of inorganic salts available today. Chlorides, acetates, carbonates, sulfates, nitrates, phosphates and silicates are some of the inorganic salts types. There are different functional groups in this inorganic salt. These salts are crucial carbonates for the body. The metabolism of the human body improves with the consumption of salt. Nerve impulses and bone improvement are some of the other benefits of these inorganic salts. The use of these inorganic salts is prevalent in various industries.
The pharmaceutical industry, salt markets and health industry have increased the use of this inorganic salt. The rising population is surging the use of inorganic salt. Rubber and food processing industries are crucial end users of the market. Salt is a natural preservative in various food items. Due to its water-reducing capacity, it is used in various food items as a preservative.
These days the use of inorganic salts is high in the papermaking industry. The increasing demand from this market is a crucial driver from the market. In the forecast period, the sodium salts market holds more than 58% of the shares. This shareholding is expected to rise immensely in this market. Improving the yield of salts and nutrients in the soil will further grow this market. All these factors are expected to raise Inorganic Salts Market Value by 4.5 million.
The outbreak of covid 19 is causing lots of difficulties in the global markets. The regions such as North America, Europe and Asia pacific are suffering from the pandemic effects. There is a lack of raw materials for the market. Supply chain disruptions are prevalent in the inorganic salts market. The construction, pharmaceuticals and agriculture industries are key end-users facing problems. There is social distancing and lockdowns that is impacting the trade activities.
The stringent rules and logistics issues are prevalent in this period. From the year 2020, there are high difficulties in the market. However, from the year 2021, the market conditions are getting better. There is the increased use of fertilizers that is impacting the inorganic salts market. In the next few years, the production of the market is expected to rise. These factors are expected to create a positive Inorganic Salts Market Outlook.
The rise in consumption of nutritious food is driving demand in this market. Today, the dietary habits of the customers are changing. Many individuals are gaining more awareness about nutritious food. The changing consumer trend is leading to healthy alternatives. The use of inorganic salt is rising due to this reason. The balanced level of sodium and other components create demand for the market.
Also, organic salt has high sodium levels. However, the inorganic salt has lesser sodium levels which increase the overall demand for the product. This crucial driver in the market will increase the overall revenue rates of the market. Further, the increased use of fertilizers is a crucial driver of the market.
The use of calcium, phosphate, zinc, nitrate and more nutrients are available. These are the components used in the fertilizers to improve soil quality. The nutrient level in the soil is essential for the agriculture industry. Due to this, it is a sector that has the highest demand for inorganic salts. As per Inorganic Salts Market Forecast, these demand drivers will contribute to the supply and revenue of the market.
The use of inorganic salts in the rubber industry will create plenty of growth opportunities. Today, inorganic salts have massive demand in the rubber industry. Especially, the inorganic salts have high need during the rubber vulcanization process. The penetration of the rubber industry in many regions is having a positive impact on this market.
Rubber is used for various purposes across the globe. The manufacturing facility of the rubber is rising rapidly. This growth will have a positive effect on the overall market. The supply and profitability of the market will rise immensely due to these factors. Furthermore, the demand from the pharmaceutical market will create more growth possibilities. The role of inorganic salt in the pharmaceutical market is wide. It is an antacid that is required in various countries.
Due to covid 19 and a high number of diseases across the globe pharmacy market is financially strong. The investment from his market contributes to Inorganic Salts Market Growth. Further, the use of inorganic salts in the construction market is another factor leading to growth. The use of salt is important in cement. Cement contains Epsom which is an inorganic salt. The building is steady and strong due to the use of these elements. Further, all these growth factors will create an exceptional expansion of the market.
The toxic components in the inorganic salts are a restraint of the market. Inorganic salts have few toxic materials. Alkyl, chloroform and fluro carbons are found in these slats. Due to this, the use of these salts is limited in various industries.
The food market and construction market may reduce the adoption rate. Even though, the toxic amount is at lesser levels it can affect the expansion rate of eh market. As per Inorganic Salts Market Analysis, these factors can impact the overall supply and revenue rates of the market in the forecast period.
The effects of covid 19 continue to be a market challenge. The last two years are difficult for the inorganic salts market. There is a huge drawback in production as well supply of the market. The lesser revenue rates in the last two years will continue to affect market growth.
Also, in this period raw material prices and availability is other factors that affect the demand. The raw material prices keep fluctuating in the market. This is affecting the production of inorganic salts. Also, the market will require more time to improve its supply networks. All these market limitations may impede the growth and demand rate.
The Inorganic Salts Market Trends remain stable in the forecast period. There are a few factors that rise the growth of this market. Many factors raise the usage of inorganic salts. Due to the rising awareness about nutrition, the demand for inorganic salts is rising. However, the toxic components and effects of covid 19 are affecting the growth of this market.
These factors remain a challenge that impedes revenue and growth rate. However, the market has various growth opportunities such as demand from the pharmaceutical and construction market that rise growth. These are trends that will have an impact on the inorganic slats market.
The Asia Pacific is a region that holds the highest Inorganic Salts Market Share. From 2018, it is a region that is witnessing high growth and expansion rate. There is high demand for protein-rich and nutritious foods in the market. Also, the use of fertilizers in the agriculture industry is high.
These are the factors that drive demand for inorganic salts. There are China, India, Malaysia and Thailand the industries having growth of agrochemicals. All these factors make Asia pacific a profitable market. The supply and expansion of inorganic salts are massive in this region.
Inorganic Salts Market By type
Inorganic Salts Market by application
Inorganic Salts Market by region
Competition in the inorganic salts market is rising. Due to this market strategies such as expansion, acquisition, mergers and collaboration in the market will rise. Also, some of the industries such as rubber and food processing will rise in adoption. Further, the product portfolio is expanding in upcoming years.
Global Inorganic Salts Market Share, by Application, 2018 (%)
Source: MRFR Analysis
The inorganic salts market is classified into Asia Pacific, Europe and North America. The Asia Pacific is the region with the highest number of shares. The higher awareness about nutrition is leading to high demand in the market. There is a high demand from the construction market that is having a positive impact on the market. Further, North America is a region with increasing agricultural produce.
Also, the demand in the construction market is another factor leading to high growth. The Healthcare industry is another market with high investments in inorganic salts. Europe is witnessing significant growth due to its food and packaging market. Processing food leads to the highest demand for inorganic salts. Latin America and the Middle East market with significant growth in recent years.
The key players in Inorganic Salts Market are
|Market Size||2030: Significant value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Merck KGaA (Germany), Thermo Fisher Scientific Inc. (US), Emerald Performance Materials (US), Laxness (Germany), Eastman Chemical Company (US), LobaChemie Pvt. Ltd (India), BEHN MEYER (Germany), Otsuka Chemical Co., Ltd (Japan), Lenntech (Netherlands), Arkema (France), GFS Chemicals, Inc. (US), Pro Chem, Inc. (US), and Hunter Chemical, LLC (US).|
|Key Market Opportunities||The widespread use of inorganic salts as an antacid in the pharmaceutical industry is another important driving factor|
|Key Market Drivers||The increase in the consumption of nutritious food products due to the evolving dietary habits of on-the-go consumers is likely to drive the growth|
The market would record 4.5% CAGR over the forecast period of 2021-2030.
Toxicity associated with some can hinder the market growth.
The inorganic salt market report has pharmaceuticals, agriculture, rubber processing, cement, food, and chemicals.
The companies are Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Eastman Chemical Company (US), Emerald Performance Materials (US), Laxness (Germany), Otsuka Chemical Co., Ltd (Japan), LobaChemie Pvt. Ltd (India), Pro Chem, Inc. (US), BEHN MEYER (Germany), Arkema (France), GFS Chemicals, Inc. (US), Lenntech (Netherlands), and Hunter Chemical, LLC (US).
The Asia Pacific market has a better opportunity to lead.