Product ID: UCMIG15C2012
Inorganic Salts Market Size, Share, Growth Analysis, By Application(Chemicals, Food Industry), By Region(North America, Europe) - Industry Forecast 2024-2031
Report ID:
UCMIG15C2012 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Inorganic Salts Market Insights
Market Overview:
The market size for inorganic salts globally was USD 172.34 billion in 2020. The market is expected to grow from USD 184.76 billion in 2021 to USD 299.99 billion in 2028 at a CAGR of 7.2% in the 2021-2028 period. The COVID-19 pandemic has had an unprecedented and staggering impact on the global inorganic salts market, causing a negative demand shock in all regions. According to our analysis, the global market showed a decline of 3.7% in 2020 compared to the average year-on-year growth during 2017-2019. This sudden decline in CAGR is attributable to the pandemic's effect on this market's demand and growth, which is expected to return to pre-pandemic levels once the pandemic is over.
Inorganic Salts Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Fertilizers & Agricultural Chemicals by segment aggregation, the contribution of the Fertilizers & Agricultural Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Inorganic Salts Market Report Snapshots
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