Industrial Salts Market by Source, Manufacturing Process, and Application : Global Opportunity Analysis and Industry Forecast, 2021–2030

Industrial Salts Market by Source, Manufacturing Process, and Application : Global Opportunity Analysis and Industry Forecast, 2021–2030

  • October 2021 •
  • 255 pages •
  • Report ID: 6193528 •
  • Format: PDF
Industrial Salts Market by Source (Rock Salt and Natural Brine), Manufacturing Process (Conventional Mining, Vacuum Evaporation and Solar Evaporation), and Application (Chemical processing, De-Icing, Water treatment, Oil & gas, Agriculture, and Food processing): Global Opportunity Analysis and Industry Forecast, 2021–2030

The global industrial salts market size was valued at $14.2 billion in 2020, and industrial salts market forecast projected to reach $19.4 billion by 2030, with global industrial salts market forecast expected at a CAGR of 3.2% from 2021 to 2030.
Industrial salt is manufactured from rock salt or natural brine by conventional mining, vacuum evaporation, and solar evaporation. Rise in demand for industrial salts with increase in penetration in wide range of industries including chemical processing, water treatment, and agriculture is expected to drive the market growth during the forecast period.

Rise in demand for chemical products, owing to increase in urbanization and industrialization propel demand for industrial salts market. Surge in demand for petroleum-based products due to development of transportation infrastructure in various countries also propels the market growth. Oil accounts for a large percentage of the global energy consumption, ranging from a low of 32% for Europe and Asia, to high of 53% in the Middle East. Petroleum feedstock is also raw material for many chemical products, including pharmaceuticals, solvents, fertilizers, pesticides, synthetic fragrances, and plastics. Industrial salts are used as additives in mud for drilling fluids. In addition, these salts also serve as flocculants, thinners, diverting agents, acidizing specialty additives, and stabilizers.

The global industrial salt is segmented on the basis of source, manufacturing process, application, and region.
On the basis of source, the global industrial salts market is segmented into rock salt and natural brine. On the basis of manufacturing process, it is divided into conventional mining, vacuum evaporation, and solar evaporation. By application, it includes chemical processing, de-icing, water treatment, oil & gas, agriculture, and food processing.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia Pacific accounts for the largest share of the market, followed by North America and Europe.

Major companies profiled in this report include Cargill, Inc., Compass Minerals America Inc., China National Salt Industry Co., Dominion Salt Ltd., INEOS, K+SAG, Mitsui 7 Co. Ltd., Nouryon, Rio Tinto Group, and Tata Chemical Ltd. Rapid increase in demand for oil & gas resources led key manufacturers expand their industrial salt manufacturing capacities in order to meet market demand across the globe. Additional growth strategies such as acquisition, partnership, product launch and business expansion strategies are also adopted to attain key developments in the industrial salts market.

KEY MARKET SEGMENTS

By Source
• Rock Salt
• Natural Brine

By Manufacturing Process
• Conventional Mining
• Vacuum Evaporation
• Solar Evaporation

By Application
• Chemical processing
• De-icing
• Water Treatment
• Oil & Gas
• Agriculture
• Food Processing

By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o Spain
o UK
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific
• LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA

Key players in the global industrial salts market are:
1. Cargill, Inc.
2. Compass Minerals America Inc
3. China National Salt Industry Co.
4. Dominion Salt Ltd
5. INEOS
6. K+SAG
7. Mitsui & Co. Ltd.
8. Nouryon
9. Rio Tinto Group
10. Tata Chemicals Ltd.