In a recent published report, Kenneth Research has updated the market report for Inorganic Salts Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Inorganic Salts Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Inorganic Salts Market is estimated to reach $69,131 Billion by 2024; growing at a CAGR of 4.9% from 2016 to 2024. A wide variety of inorganic salts are available and are used in a range of applications including agriculture, healthcare, construction, and many others. The physical and chemical properties, and uses of each inorganic salt differ from each other. Additionally, these salts play an important role for normalizing the functions of the human body. These salts are essential nutrients for humans and animals and are used by combing in the form of food to maintain some of the metabolic processes, and conducting nerve impulse.
The factors surging the demand of global inorganic salts market are increasing application of salts in pharmaceutical and construction industries, advancing rubber industry, growth in agrochemicals and agricultural sector, and rising demand for magnesium oxide. Though, toxic nature of some salts would hinder the market growth. Additionally, increasing R&D in the field of chemicals and biotechnology would provide market opportunities in years to come.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The segments of global inorganic salts market include product type, application, and geography. Product type is bifurcated into potassium salt, sodium salt, calcium salt, magnesium salt, ammonium salt, and others. Application includes food, chemical, healthcare, fertilizer, construction, and others.
Based on geographical analysis, inorganic salts market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Netherland, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, Australia, and Rest of Asia-Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
The key Major players in this market include Chemtura Corporation, Thermo Fisher Scientific Inc., Lanxess AG, Behn Meyer, Merck Millipore, Bann Quimica, Eastman Chemicals Co., Loba Chemie Pvt. Ltd., Otsuka Chemical Co Ltd., and Emerald Performance Materials, among others.
The key takeaways from the report:
The report will provide detailed analysis of Global Inorganic Salts Market with respect to major segments such as product type, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
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Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Inorganic Salts Market has been included in the report
Profile of the key players in the Global Inorganic Salts Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Inorganic Salts Market:
Product Type Segments
Sodium Salt
Magnesium Salt
Calcium Salt
Potassium Salt
Ammonium Salt
Other Product Types
Application Segments
Food
Chemical
Healthcare
Fertilizer
Construction
Other Applications
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Netherland
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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