The global inorganic salts industry growth 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.