The inorganic salts market growth is propelled by factors such as the surging demand for agrochemicals, increasing mineral salt consumption by various end-user industries, and evolving chemical sector. Owing to these growth drivers, the market is expected to advance at a CAGR of 4.4% during the forecast period. Inorganic salts are used in the production of ceramics, paints, paper, fertilizers, rubber, and pharmaceutical products. Additionally, these salts are used in small quantities in animal feed as a catalyst, as well as in fire retardants and sulfur absorbents.
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Inorganic salts are available in the form of oxides, fluorides, silicates, acetates, halides, carbonates, nitrates, hypochlorites, phosphates, sulfides, and chlorides. Based on their characteristics, these salts are used for specific purposes across industries. For example, phosphates, silicates, and carbonates are used in the production of fertilizers, glass, and construction materials, respectively. Calcium salts, ammonium phosphate, nitrates, and zinc salts are used in fertilizer production, as they offer exceptional properties of enhancing soil nutrients. Likewise, Zinc oxide plays a pivotal role in the vulcanization of rubber during rubber processing.
Globally, the Asia-Pacific region held the largest share in the inorganic salts market in 2015. This can be attributed to the expansion in the construction sector, spurring demand for agrochemicals, and growing chemical industry in the region. China is the frontrunner in the regional market due to the vast size of the chemical sector in the nation. Additionally, the escalating construction activities in China are supporting the market growth. Moreover, the demand for inorganic salts is growing in the healthcare sector of India, which is a key manufacturer of generic drugs.
According to P&S Intelligence, North America and Europe are also significant consumers of inorganic salts. European countries are witnessing a high-volume use of acetate inorganic salts for the production of dress linings, upholstery, apparel, and home furnishings. In the same way, the U.S. and several Middle Eastern countries use sulfates for chemical processing. Owing to this spurring demand, Loba Chemie, Eastman Chemical Company, Hebei Yatai Limited, Lanxess AG, Behn Meyer, Otsuka Chemical Co. Ltd., Electrochemistry Co., Arkema SA, and Thermo Fisher Scientific Inc. are offering a wide range of inorganic salts.
Thus, the growth of the chemical, pharmaceutical, and biotechnology sectors will fuel the consumption of inorganic salts in the future.
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