Inorganic Salts Market Emerges as a Promising Sector, Witnessing Substantial Growth & Diverse Industrial Applications
Inorganic Salts Industry Trend
The global inorganic salts market is primarily driven by increased usage of dietary supplements and expanding applications across various industries.
WILMINGTON, DELAWARE, UNITED STATES, July 9, 2024 /EINPresswire.com/ -- Allied Market Research recently published a report titled "Inorganic Salts Market1 by Insulation Material and End-use Industry: Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global inorganic salts market was valued at $92.2 billion in 2020 and is expected to reach $150.7 billion by 2030, growing at a compound annual growth rate (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:
The growth of the global inorganic salts market is primarily driven by increased usage of dietary supplements and expanding applications across various industries. However, concerns related to health and the environment pose some challenges. Despite this, opportunities are anticipated to arise from the growing use of antacids.
Segment Insights:
Type: Sodium salts dominated in 2020, capturing nearly three-fifths of the market share, attributed to their wide-ranging industrial applications. Calcium salts are poised for the fastest growth with a projected 5.9% CAGR, driven by their role in bone health.
Application: Agriculture led in 2020, driven by soil nutrient enhancement applications. Pharmaceuticals are expected to exhibit the fastest growth (6.0% CAGR), leveraging the stability and solubility advantages of sodium salts in formulations.
Regional Analysis:
Asia-Pacific, led by countries like China, India, and ASEAN nations, held a significant market share in 2020 and is expected to exhibit the fastest CAGR of 5.6% through 2030. North America also held a substantial share in 2020.
Key Players:
Major players in the global 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, and Thermo Fisher Scientific Inc.
This summary encapsulates the essential findings and projections highlighted in Allied Market Research's extensive analysis of the global inorganic salts market, providing valuable perspectives for industry stakeholders and investors alike.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞:
https://www.alliedmarketresearch.com/inorganic-salts-market/purchase-options
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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.
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