Global Industrial Salt Market Size, Industry Price, Growth, Trends, Report and Forecast 2020-2027

The global industrial salt market by revenue is expected to grow at a CAGR of over 4% during the period 2019–2025. The global industrial salt market is witnessing a steady growth in terms of consumption. The chemical sector is one of the major end-users of industrial salt, where it is primarily used in the production of Chlor-alkali (chlorine and caustic soda) and synthetic soda ash. Chlor-alkali production is the largest market for salt, accounting for approximately 36% of world consumption in 2018. Around 52% of the global consumption was witnessed in East Asia, followed by North America (18%) and Western Europe (14%). The growing demand for products such as caustic soda and soda ash is driving the growth of Chlor-alkali. The growing demand for potable water consumption due to population growth, rise in the number of water-borne ailments, increase in acceptance in industrial applications such as food processing, chemical, textiles, and refineries would further support the growth. APAC dominates the market for water treatment with China, Japan, South Korea, and India leading the race. Strict regulations related to water treatment are expected to drive the market demand in several sectors, including pharmaceuticals, chemicals, and refineries.

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Key Vendors

• Cargill
• China National SaltIndustry Group Co. Ltd
• Tata Chemical Limited
• Compass Minerals
• INEOS Group
• K+S

Insights by Vendors

The market is comparatively mature with the presence of a large number of regional and domestic players. Salt is a commodity, which limits the potential for product differentiation and increases competition. The presence of low entry barriers in the consumer and industrial markets increases competition. Primarily, advantageous geographical locations, superior assets and distribution network strengthen the competitive position of the manufacturers. Global vendors have been investing in capacity expansion into salt-producing countries to stay better sheltered from unbalanced climatic and economic situations that are constantly leading to price fluctuations and consecutively hampering the investments and pricing decisions of producers.

Industrial Salt Market: Segmentation

This research report includes a detailed segmentation by product, source, application, and geography. The chemical industry is the largest end-user. Salt is used as a raw material for the production of chlorine, soda ash, and caustic soda. The growing demand in the Chlor-alkali industry is primarily driving the growth. Further, the growth in construction activities is also supporting the growing demand for PVC and glass. Industrial salt constitutes a key component in manufacturing PVC and glass, hence, the growth in construction activities is likely to generate demand in the region.

Highway de-icing forms the major market for industrial salt in North America and Europe. The application of industrial salt can not only help in de-icing but also delays the formation of ice for a long time. According to research conducted in Wisconsin, the application of salt for snow melting is estimated to reduce accidents by 88% in the US. Cold and frosty winters in North America and Europe have also resulted in a high import of salt for de-icing, thereby increasing the market share.

The solar segment is expected to account for the majority of the volume share during the forecast period. The low-production cost is primarily responsible for the growth of the segment. Solar salt is expected to witness the fastest growth in terms of consumption during the forecast period. It is likely to witness the highest demand in the APAC region owing to the rapidly growing production of high-quality products, especially in India, Australia, and Pakistan.

Vacuum evaporated salts usually have the highest purity levels. Chemical industries, especially Chlor-alkali production, require high-quality products, which is primarily driving the demand for vacuum evaporated products. Further, in the food processing industry, the demand from quality-conscious consumers for pure products is growing.

Salt mining accounted for approximately 32% of the market share in 2019. The growing demand for brine in chemical industries is expected to drive the segment. The demand is expected to witness high growth in consumption during the forecast period, as compared to mining. Seawater is practically inexhaustible as compared to mining. Mining, however, have a restricted capacity of production. Rock salt produced in mines have lower purity levels and have limited usage in de-icing and chemical industries. The rapidly growing market for chemical and de-icing is primarily driving the market growth.

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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

Seawater salt is primarily used in oil and gas exploration, paper and pulp industry, metal processing industry such as aluminum, tanning and leather treatment, textile and dyeing industry. It accounted for approximately, 66% of the global consumption, primarily owing to the abundance in the availability of saline seawater. The application is increasing in food processing, refrigeration, and cooling systems. It is also used as heat-transfer media because of low freezing temperatures or as a vapor-absorption agent because of low vapor pressure. Brine is also extensively used in steel and aluminum industries, thereby driving the segment growth.

Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of The Study
4.3.1 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

The study considers the present scenario of the industrial salt market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Key Market Insights

The analysis of the industrial salt market provides sizing and growth opportunities for the period 2020–2025.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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