Industrial Salt Market Highlights 2020 – 2029
The industrial salt market is estimated to garner a decent amount of revenue by growing at a modest CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the robust growth of the application areas of industrial salt such as water treatment, chemicals, food processing and textiles. Rising international trade, increasing production capacities of salt manufacturing units and abundance of rock salt deposits are another factors expected to drive growth to the market over the forecast period. Furthermore, industrial salt is easily available owing to its high consumption and absence of other economic substitutes, which is projected to provide opportunities to market growth in the coming years.
The market is segmented by application into oil & gas, chemical processing, water treatment and de-icing, out of which, the chemical processing segment is anticipated to hold the largest share in the industrial salt market on account of the growing demand for industrial salt in soda ash, chlorine and caustic soda production. The segment for de-icing is also expected to occupy a notable share in the market in the near future owing to the effective ice control properties of industrial salt such as high efficiency at lower temperatures. Furthermore, the section for oil & gas application is projected to grow significantly during the forecast period, which can be associated with the high consumption of industrial salt during drilling and extraction procedures.
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Global Industrial Salt Market Regional Synopsis
Regionally, the industrial salt market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in Asia Pacific region is estimated to grab the largest market share over the forecast period on the back of increasing salt production, and rising demand for industrial salt in water treatment and chemical processing activities, especially from developing countries such as China and India. In 2020, China led all other countries in salt production, manufacturing approximately 60,000 metric tons of salt. Along with these, rapid expansion of the chlor-alkali industry is also predicted to drive market growth in this region. In addition to this, Latin America also holds a significant share in the market, which can be credited to the rising need for industrial salt in agricultural sector, presence of a large number of natural salt deposits and high production capacities of salt manufacturing units in the region, namely in Chile and Brazil. Additionally, the market in the Middle East and Africa region is anticipated to grow at the highest rate over the forecast period accounting to the growing use of industrial salt in a diverse variety of applications in the region.CLICK TO DOWNLOAD SAMPLE REPORT
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The industrial salt market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the industrial salt market includes the following segments:
By Source
- Rock Salt
- Natural Brine Salt
- Solar Salt
- Vacuum Pan Salt
By Application
- Oil & Gas
- Chemical Processing
- Water Treatment
- De-Icing
By Production Method
- Solar Evaporation
- Mining
- Vacuum Evaporation
Growth Drivers
- Growth in Production Capacities of Industrial Salt Globally
- Rising Demand for Industrial Salt from End User Industries
Challenges
- Stringent Regulations Associated with the Manufacture of Industrial Salt
Top Featured Companies Dominating the Market
- Cargill, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- K+S Minerals and Agriculture GmbH
- Tata Chemicals Ltd.
- Compass Minerals International, Inc.
- Rio Tinto plc
- MITSUI & CO., LTD.
- Morton Salt, Inc.
- Compagnie des Salins du Midi et des Salines de l'Est
- Maldon Crystal Salt Company Ltd
- INEOS Capital Limited
