Salt hydrates are mainly employed in various application segments including advanced phase change materials, energy, construction and refrigeration among others. Major product segments for salt hydrate include cupric sulfate, copper sulfate, copper salt and table salt among others. Construction has been the most dominant application segment for salt hydrates and the trend is expected to continue in the near future. Electronics is expected to be the fastest growing application segment during the forecast period.
Increasing disposable income and emerging economies have led to growth in several end user segments such as electronics, refrigeration and energy among others. High economic growth rate has been the foremost driver for the market growth. Growth in construction industry has also been a major factor driving market. Environmental hazards associated with several salt hydrates have been a major restraint for market growth. Research and development activities to increase the application scope and efficiency of salt hydrates are expected to offer huge growth opportunity in the coming future.
North America dominates the global salt hydrates market in terms of consumption and the trend is expected to continue during the forecast period. Europe has been the second largest geographic segment for salt hydrates. The demand in Europe is mainly driven by growth in electronics segment. Asia Pacific is expected to be the fastest growing region during the forecast period. High growth rate in the developing economies of India and China is expected to drive the market growth in the region. In the RoW region, emerging economies in Latin America are expected to drive the demand for salt hydrates.
Major players in the salt hydrate market include BASF, Dow Building Solutions, E.I. du Pont de Nemours & Company, Honeywell International, Phase Change Products Pty Ltd and Rubitherm Technologies GmbH among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.