According to IMARC Group latest report titled” Industrial Salts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global Industrial Salts Market to exhibit moderate growth during the next five years. Industrial salt, or sodium chloride, represents a white crystalline solid obtained from seawater and rock salt deposits. It is traditionally produced by mining, solar evaporation, and vacuum evaporation processes. Industrial salts have a wide range of applications in chemical processing, de-icing, farming, water treatment, etc. They are also utilized in cleaning oil and gas wells to improve soil and mud density and create an efficient and safe drilling rig. Furthermore, these salts are extensively used for manufacturing glass, polyester, tires, case-hardened steel and brass, leather, etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The growing product demand as an essential raw material for producing caustic soda, chlorine, soda ash, etc., is among the primary factors bolstering the industrial salts market. Moreover, various water treatment projects are utilizing industrial salt for water softening and purification, which is further catalyzing the market growth. Besides this, these salts are gaining traction in the paper and pulp industry for washing, neutralization, bleaching, and pulping waste paper, as they are cheaper than natural salt, which is acting as another significant growth-inducing factor. Furthermore, the increasing product requirement to remove ice and snow from roads to create clean and safe driving surfaces is also augmenting the global market. Apart from this, the escalating application of sodium chloride in the pharmaceutical industry for producing saline solutions and manufacturing capsules is projected to fuel the industrial salts market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Akzo Nobel N.V
- Cargill Inc.
- Compass Minerals International Inc
- Dominion Salt Limited
- Donald Brown Group
- INEOS Group Ltd
- K+S AG
- Mitsui & Co. Ltd.
- Nouryon Chemicals B.V.
- Rio Tinto PLC
- Tata Chemicals Limited
Industrial Salts Market Segmentation:
Our report has categorized the market based on region, source, product, application and end use industry.
Breakup by Source:
- Brine
- Salt Mines
Breakup by Product:
- Rock Salt
- Salt in Brine
- Solar Salt
- Vacuum Pan Salt
Breakup by Application:
- Chemical Processing
- Caustic Soda
- Soda Ash
- Chlorine
- De-Icing
- Oil and Gas
- Water Treatment
- Agriculture
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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