The sodium salts segment held the major share in 2020, garnering nearly three-fifths of the global inorganic salts market.
PORTLAND, OREGON, UNITED STATES, July 12, 2023/EINPresswire.com/ — The sodium salts segment held the major share in 2020, garnering nearly three-fifths of the global inorganic salts market. This is due to their broad spectrum of applications across various industries. The calcium salts segment, on the other hand, is projected to cite the fastest CAGR of 5.9% throughout the forecast period. This is because calcium salts help build and maintain bones.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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The market across Asia-Pacific, followed by North America, dominated in 2020, garnering more than two-fifths of the global inorganic salt market. The same region is also expected to cite the fastest CAGR of 5.6% throughout the forecast period. The demand for inorganic salts in Asia-pacific is mainly driven by China, India, and ASEAN countries, which are experiencing substantial growth in the applications.
This makes it important to understand the practical implications of the Inorganic salts market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The agriculture segment contributed to the lion’s share in 2020, holding more than two-fourths of the global inorganic salts market. This is owing to the use of inorganic salts in improving the soil nutrients. However, the pharmaceuticals segment is projected to manifest the fastest CAGR of 6.0% from 2021 to 2030. This is because pharmaceutical substances are often converted into sodium salts because they are more stable and more soluble or bioavailable.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players BEHN MEYER, Eastman Chemical Company, GFS Chemicals, Inc., Hunter Chemical LLC, Lanxess, Lenntech, LobaChemie Pvt. Ltd, Merck KGaA, Otsuka Chemical Co., Ltd. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
According to the report published by Allied Market Research, the global inorganic salts market was estimated at $92.2 billion in 2020 and is expected to hit $150.7 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the Inorganic salts market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
Increase in usage of dietary supplements and rise in applications of inorganic salts drive the growth of the global inorganic salts market. On the other hand, several health & environment concerns impede the growth to some extent. However, surge in use of antacids is expected to create lucrative opportunities in the industry.
KEY OFFERINGS OF THE REPORT:
Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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