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