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CHEMICALS AND ADVANCED MATERIALS

Industrial Salt Market : Global Demand Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Industrial Salt Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Overview

Industrial salts are made up of pure sodium chloride with other added chemical substances which enhances their application over wide range of industries. Industrial salts are used to develop polyester, plastic and glass and also used in production of tires, papers, brass, case-hardened steel, bleach, etc.  

The global industrial salt market is anticipated to witness a steady compound annual growth rate (CAGR) of 2.2% over the forecast period i.e. 2015-2021. Regionally, the global industrial salt market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and Rest of World (Row).

Market Size and Forecast

Regionally, with 41.0% share in 2015, Asia-Pacific held the largest industrial salt market. The market in the region is further anticipated to continue its dominance by the end of the forecast period i.e. 2021, propelled by expansion of chemical industries and increasing production of chloro-alkali chemicals in countries such as India and China.    

At present, Europe and North America account for a significant share in the global industrial salt market. Demand of road de-icing and up-surged construction and manufacturing industries is projected to be a key growth driver of industrial salt market in these regions in coming 4-5 years. CLICK TO DOWNLOAD FREE SAMPLE

Market Segmentation

By End Use

  • Chemical processing
  • Road de-icing
  • Agriculture
  • Water conditioning

 By Production Methods

  • Brine extracted through solution mining
  • Mined rock salt
  • Seawater solar evaporation

Growth Drivers and challenges

Increase in global production of chloro-alkali chemicals is likely to boost the growth of industrial salts market over the forecast period i.e. 2015-2021.

In addition to that, rising development of paper and construction industries in Asia-Pacific region is also expected to fuel the growth of global industrial salt market in future.

However, highly fragmented nature of the industrial salt market is anticipated to restrain the growth over next few years.

Key Players

Global industrial salt market includes some of the top players such as Cargill, Compass Minerals, INEOS, CNSIC, K+S, etc.

 


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