Global Industrial Salts Market - 2022-2029

Global Industrial Salts Market - 2022-2029

Market Overview

Industrial salts market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 2.0 % during the forecast period (2022-2029).

Chemical compounds containing sodium chloride produce industrial salt, with a wide range of industrial applications. Glass, plastic and polyester are developed using these slats. It's also used to make case-hardened steel, tires, brass and pepper, among other things and to clean gas & oil wells.

In the oil business, industrial salt is used to enhance the density of soil and mud, resulting in a more efficient and safe drilling rig. It is also used to produce backing soda, caustic soda, other products and water treatment plants. In the pharmaceutical sector, industrial salt is utilized to produce saline solutions and capsules. Thanks to rising industrialization and a burgeoning pepper and pulp industry, Asia-Pacific is leading the worldwide industrial salt market.

Market Dynamics

Over the projected period, rising demand for the product in key application industries such as highway de-icing, gas and oil, water treatment, agriculture and chemical processing, particularly for manufacturing caustic soda, chlorine and soda ash, is likely to drive growth.

Rising demand for chemical processing, water treatment and de-icing

Industrial salts are utilized as a starting material to manufacture a variety of chemicals. Industrial salts are primarily used in the chemical industry to produce caustic soda, chlorine and ash. The electrolysis of industrial-grade salt in the chloralkali industry produces caustic soda and chlorine. Industrial salts are commonly used to de-ice roadways, platforms and walkways since they are cost-effective. Industrial salts can lower the freezing point of water, allowing ice to melt. The second-largest percentage of the global industrial salts market goes to de-icing. Compared to grades used for other uses, industrial salts used for de-icing are of the lowest grade, with higher contaminants.

Industrial salts are used to treat water in most water softening systems. Water softening systems use an ion exchange procedure using resins to efficiently remove calcium and magnesium salts from water. Industrial salts are used for resin regeneration, enhancing the resin's effectiveness and the system. For these purposes, coarse, granular or salt pellets of various geometries are utilized. Industrial salts are also used as a chlorine source in drinking water treatment and swimming pools as disinfectants. The market for industrial salts in the water treatment application is predicted to grow due to the rising demand for clean water.

Rising industrialization across the world

Because of the vast range of industrial applications for these salts, increasing industrialization drives the worldwide industrial salt market. Furthermore, industrial salt is less expensive than natural salt, propelling the global industrial salt market forward, as every organization requires lower-cost natural resources like industrial salt.

As it is utilized in numerous food products, the growing demand for industrial salt in the food and beverage industry also supports the expansion of the worldwide industrial salt market. Furthermore, due to the worldwide supply network, which has made the commodity available everywhere, industrial salt is not difficult to acquire and easy to obtain. As a result, the product's accessibility propels the global industrial salt market forward.

Growing environmental and health concerns

Industrial salts are utilized in a variety of industries. However, the usage of the same has sparked environmental and health concerns. Food processing and de-icing are two of these applications. Food preservation and flavor are typically done with industrial salts in the food processing sector.

However, the sodium level of salts used in food processing causes health problems such as high blood pressure and cardiovascular disease. Similarly, industrial salts are hygroscopic; they absorb moisture and cause corrosion. It impacts the use of industrial salts for de-icing because they tend to make roadways slick and cause corrosion of metal structures and automobile parts.

COVID-19 Impact Analysis

COVID-19 harmed the market in 2020. Chemicals like chlorine and caustic soda are made with industrial salts. Chemical production facilities were temporarily halted due to the pandemic during the government-imposed lockdown, resulting in a decline in demand for raw materials used in chemical processing. In addition, industrial salts are used in the paper industry.

As per the CEPA- Confederation Of European Paper Industries, Cepi member countries' paper and board output declined by 5% in 2020 compared to the previous year, owing to worldwide demand being impacted by the COVID-19 pandemic, which hurts the researched market's demand. However, keeping personal hygiene and a clean environment in focus, using soaps and detergents that use industrial salts as raw material has expanded dramatically during this situation, stimulating demand for the industrial salts industry.

Segment Analysis

By application, the industrial salts market is segmented into chemical processing, de-icing, water treatment, oil & gas, agriculture and others.

Rising demand from the chemical processing segment

Conventional mining, solar, and vacuum evaporation make industrial salts from rock salt or natural brine. Chemical processing accounts for more than half of the total demand for industrial salts. Due to their high availability and cost-effectiveness, industrial salts are frequently utilized in chlorine, soda ash and caustic soda production. Industrial salts are actively utilized in the chloralkali process to make chemicals such as ethylene dichloride, stimulating demand for industrial salts due to a lack of cost-effective replacements.

According to the American Chemistry Council, the chemical sector in U.S. is expected to grow by 12.3% annually in 2021, compared to the previous year. Total chemical capital investment is predicted to rise to US$ 33.5 billion by 2021, representing a 15.7% increase over the previous year, which is expected to boost market demand for industrial salts. Plastics contain industrial salts, such as polyvinyl chloride, soaps, detergents, herbicides and pesticides. It's also utilized to make inorganic chemicals like titanium dioxide, which boosts the industrial salts market's growth.

Geographical Analysis

Growing industrialization in Asia-Pacific

Due to the region's rapid industrialization, Asia-Pacific will likely lead the market for industrial salts throughout the forecast period. The use of industrial salts in the chemicals processing industry has increased the demand for industrial salts in nations like China, India and Japan. Industrial salts are commonly used for de-icing and clearing roadways in countries with severe snowfall. Industrial salts' de-icing properties also delay ice reformation for some time.

Industrial salts are utilized in water treatment plants' water softening and purification processes. Many water treatment projects are being built in countries like India and China, which is expected to boost the growth of industrial salts over the forecast period. Cargill Incorporated, K+S Aktiengesellschaft and Tata Chemicals Ltd are prominent corporations operating in Asia-Pacific.

Competitive Landscape

Global players can respond more flexibly than local competitors to fluctuations in weather-dependent demand for de-icing, maintaining dependable supply to consumers, thanks to their network of production sites. The companies in this area are competitive, competing based on product quality and regional expansion.

Major global industrial salts market companies include Cargill, Inc., China National Salt Industry Corporation (CNSIC), Tata Chemicals Ltd., Mitsui & Co. Ltd., Rio Tinto PLC, Compass Minerals International Inc., Exportadora De Sal De C.V., Ineos Group Holdings S.A., CK Life Sciences International Holdings Inc. and Akzonobel N.V.

Cargill Inc.

Overview: Cargill is a leading producer and distributor of agricultural products like sugar, refined oil, cotton, cocoa and salt worldwide. It was founded by William Cargill in 1865 and has stayed in the Cargill family ever since. Cargill delivers its products and services in more than 125 countries worldwide, thanks to its 155 years of business experience. Cargill, headquartered in Minnetonka, Minnesota, is one of the largest private enterprises in U.S. It brings together the realms of food, agriculture, nutrition and risk management with a workforce of 160,000 people in 70 countries.

Product Portfolio: The company's industrial segment provides salts and de-icing solutions to increase profitability and operations. It offers oil field salts, general industrial salts, pool salts and water softener salts.

Key Development: Cargill announced the permanent termination of salt production at its mine in Avery Island, Louisiana, in January 2021. At the end of the year, the lease with the landowner, Avery Island Inc., expires; the firm had expected to stop hoisting salt from the mine later in 2021.

Why Purchase the Report?
• Visualize the composition of the industrial salts market segmentation by source, manufacturing process, application and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the industrial salts market by analyzing trends and co-development deals.
• Excel data sheet with thousands of industrial salts market-level 4/5 segmentation points.
• Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global industrial salts market report would provide access to an approx. 61 market data table, 54 figures and 210 pages.

Target Audience 2022
• Industrial Salts Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Emerging Companies
• Industrial Salts Manufacturers