Get an in-depth analysis of COVID-19 impact on the global industrial salt market.
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.
The following factors are likely to contribute to the growth of the industrial salt market during the forecast period: •Growth in International Trade •Rising Demand for Water Treatment •Growth in Industrial Production Capacity
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.
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.
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.
Market Segmentation by Source •Mining •Sea Water Market Segmentation by Product •Solar •Vacuum •Rock Salt •Salt in Brine Market Segmentation by Application •Chemical •De-icing •Water Treatment •Oil &Gas •Others
Insights by Geography
APAC is the largest market for industrial salt consumption globally. The rapidly growing Chlor-alkali industry in China is primarily driving the growth of the market in 2019. Industrial salt is one of the largest minerals consumed by volume globally. It has over 14,000 applications in industries, including chemical, de-icing, paper and pulp, water treatment, pharmaceutical, textile, food processing, oil and gas, among others. The consumption is expected to remain high in the US as meteorologists predict continued colder weather in the region. Further, the increasing cross border trade is expected to create enormous opportunities for global traders. The UK is one of the leading markets in Europe. De-icing and food processing account for the primary application in the country. The presence of the large-scale chemical industry in Germany is primarily driving the consumption demand in Europe.
Market Segmentation by Geography •Europe oGermany oItaly oUK oPoland oRussia •North America oUS oCanada •APAC oChina oJapan oIndia •MEA oIran oTurkey •Latin America oBrazil oMexico
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.
Key Vendors •Cargill •China National SaltIndustry Group Co. Ltd •Tata Chemical Limited •Compass Minerals •INEOS Group •K+S
Other Prominent Vendors •Mitsui & Co. Ltd. •Rio Tinto •Delmon Group of Companies •Nouryan •Zoutman •Wilson •Amra Salt •Donald Brown Group •Swiss Saltworks •Salins Group •CIECH Group •American Rock Salt •Atisale SpA •Avan Salt Plant •Ibérica de Sales S.A.
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.
Our reports have been used by over 10K customers, including:
The North American date sugar market was valued at US$ 669.4 million in 2018 and is projected to reach US$ 929.7 million by 2027; it is expected to grow at a CAGR of 3.7% during 2019–2027. Date sugar is most commonly found in natural food stores since it is less processed than regular sugars.It is produced using dried dates and adds...
The European date sugar market was valued at US$ 553.6 million in 2018 and is projected to reach US$ 850.3 million by 2027; it is expected to grow at a CAGR of 4.9% during 2019–2027. Date sugar is a sort of sugar sold in natural food stores since it is less processed than regular sugars.It is produced using dried dates and adds a rich...
The global rice bran oil market is projected to grow at a CAGR of 9.98% during the forecast period (2020-2025). - The global rice bran oil market is being driven by rising health consciousness among consumers and high demand for nutritional and fat-free food and beverages owing to its mild flavor, neutral taste, and rich nutrient content....
Opportunities in the Asia-Pacific Seasonings, Dressings & Sauces Sector Summary The Asia-Pacific seasonings, dressings & sauces sector is led by the condiment sauce category in both value and volume terms.Moreover, Condiment sauces is forecast to register the fastest value growth during 2019-2024. Hypermarkets...
263 pages •
By Global Industry Analysts
• Jun 2020
Amid the COVID-19 crisis and the looming economic recession, the Phosphates market worldwide will grow by a projected 12.5 Million Metric Tons, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.4%. Fertilizers, one of the segments analyzed and sized in this study, is forecast to grow at over 2.4% and...
Opportunities in the Americas Seasonings, Dressings & Sauces Sector Summary Americas was the second largest region with a value share of 29.5% in the global seasonings, dressings & sauces sector in 2019, and is forecast to record a CAGR of 3.4% over 2019-2024. High living standards and rising health...
Opportunities in the Eastern Europe Seasonings, Dressings & Sauces Sector Summary The Eastern Europe seasonings, dressings & sauces sector is led by the condiment sauce category in both value and volume terms.Bouillons & Stocks sauces is forecast to register the fastest value growth during 2019-2024. Hypermarkets...
The industrial margarine market in APAC was valued at US$ 532.5 million in 2018 and is expected to grow at a CAGR of 3.2% during 2019–2027 to reach US$ 706.0 million by 2027. Margarine is an evolution to a highly accepted spread that is a prime example of technological advancement made through the combined efforts of oil chemists, food...
The sulfur fertilizers market is projected to grow at a CAGR of2.2% from 2020 to 2025. The sulfur fertilizers market is estimated to be valued at USD4.6billion in 2020 and is projected to reach USD 5.1billion by 2025, recording a CAGR of 2.2%. Factors such as an increase in sulfur deficiency in soils, depletion of sulfur...
The global mining chemicals market is expected to register a CAGR of around 4% during the forecast period. The market is likely to witness moderate growth during the forecast period, owing to a steady rise in the metal prices, increasing mining exploration spending, and new mining projects in various countries, like Canada, United States,...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.