Overview of the Inorganic Salts Market and Future Growth Prospects
With the mushrooming consumption of salt, expansion of the agrochemical industry, and surging application pool of inorganic salts in the chemical producing industry, the worldwide demand for inorganic salts is soaring. Inorganic salts are heavily required in the chemicals industry, as they are needed for use as the primary feedstock in the production of synthetic soda ash and chlor alkali. Moreover, inorganic salts, such as magnesium oxides are extensively used as antacids in the pharmaceutical sector and also as ‘epsom’ salts in the cement manufacturing sector.
Additionally, inorganic salts, such as calcium salts, zinc salts and nitrates, and ammonium phosphate are heavily used as fertilizers in agricultural processes, owing to their ability to enrich soil nutrients. Furthermore, zinc oxide is an important component for the vulcanization of rubber during rubber processing. Inorganic salts are also used as catalysts in animal feed in small portions. Due to these factors, the demand for inorganic salts is surging sharply across the world, which is causing the expansion of the global inorganic salts market.
These salts are divided into various salt groups, such as carbonates, oxides, nitrates, fluorides, silicates, acetates, chlorides, hypochloride sulphides, phosphates, and halides. These salt groups can be further categorized on the basis of their attached functional group. Moreover, these salts are utilized for various purposes in several industries, depending on their type. For example, carbonates are used in the construction sector, while silicates and phosphates are used in glass manufacturing and fertilizers, respectively.
Geographically, the demand for inorganic salts was found to be the highest in the Asia-Pacific (APAC) region in the years gone by. In this region, China is currently the largest consumer of these salts, primarily because of the expansion of the chemical industry in the country. In addition, the surging construction and infrastructure development activities are also predicted to fuel the requirement for inorganic salts in the country in the coming years.
Hence, the demand for inorganic salts is certain to shoot up all over the world in the upcoming years, mainly because of the growing use of various inorganic salts in the chemical, pharmaceutical, healthcare, agriculture, and construction sectors.
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