The global inorganic salts market size is anticipated to hit USD 299.99 billion by 2028 and exhibit a CAGR of 7.2% during the forecast period. The rising demand for pharmaceuticals and inorganic metal salts’ adoption is expected to fuel the market growth. Fortune Business InsightsTMhas presented this information in its report titled, “Inorganic Salts Market, 2021-2028”. The market size stood at USD 172.34 billion in 2020 and USD 184.76 billion in 2021.

Additionally, the rising demand for nitrogen-rich salts, such as ammonium salts, to make fertilizers is expected to boost the market growth. The increasing crop yield demand due to expanding population and its growing food demand is expected to augment the demand for fertilizers and foster market growth in the coming years.

Source: https://www.fortunebusinessinsights.com/inorganic-salts-market-106588

COVID-19 Impact-

Halt in Production Process and Disruption in Demand & Supply Chain due to COVID-19

The chemicals industry has been acutely struck by the rapid spread of COVID-19. A steep decline in demand for chemicals has been witnessed in the last two years. The pricing pressure, trade uncertainty, and other such factors have gravely impacted the market growth. Labor shortage, uncertain shutdowns of production facilities, supply chain disruptions, and raw material scarcity have aggravated the situation. Though the demand for these salts increased due to the rising demand for pharmaceutical drugs, the market still experienced a negative impact of the virus’ quick spread.

Report Coverage-

• It highlights key growth drivers and suggests strategies to overcome the restraints to market growth.

• It includes companies profiled according to their market rankings and the strategies adopted by them to stay at the top of the game.

• It highlights the impact of the COVID-19 pandemic on the market.

• It incorporates SWOT Analysis and Porters’ Five Forces Analysis for accurate market prediction.

• It includes the latest industry developments.