Global Sodium Chloride Market Report and Forecast 2023-2028

Global Sodium Chloride Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global sodium chloride market reached a value of USD 30 billion in 2022. Aided by the omnipresent utility of the compound in various facets of human life and its indomitable importance in numerous industries, the market is projected to further grow at a CAGR of 2.3% between 2023 and 2028 to reach a value of USD 34.35 billion by 2028.

Sodium chloride, commonly known as table salt, is an essential compound for life, with its primary sources being sea water and rock deposits. It has been an integral part of human diets, serving not just as a flavour enhancer but also as a crucial nutrient for physiological functions. Beyond culinary applications, sodium chloride has marked its indispensability in a plethora of industries, from pharmaceuticals and cosmetics to agriculture and textile.

One of the principal drivers of the sodium chloride market growth is its quintessential role in food preservation. With the growing global population and the ensuing demand for prolonged shelf life of foods, the role of sodium chloride as a preservative has never been more significant. It's not just about taste – sodium chloride inhibits the growth of microbes, ensuring food safety and longevity.

Furthermore, in the realm of health, sodium chloride market demand is likely to witness a surge in the forecast period. It is an essential component in the human diet, playing critical roles in maintaining physiological equilibriums such as fluid balance, nerve conduction, and muscle contractions. The pharmaceutical industry capitalises on these properties, formulating saline solutions, oral rehydration solutions, and other medicinal preparations.

As the beauty and wellness industry continues to flourish, sodium chloride has found its niche in cosmetic formulations. Leveraged for its exfoliating and cleansing properties, it's a common ingredient in scrubs and bath products. Its ability to balance oil production and combat bacterial proliferation also makes it a sought-after component in skincare routines.

The industrial relevance of sodium chloride cannot be understated. It's extensively used in the chemical industry as a raw material for the production of various chemicals like chlorine, caustic soda, and soda ash. Its significance in textile dyeing, leather processing, and even as a road de-icer, especially in cold countries, further adds to the global sodium chloride market size.

In agriculture, sodium chloride is sometimes utilised as a herbicide, and it's a common ingredient in certain animal feeds, ensuring livestock receive the required mineral nutrients. This dual role in the agricultural sector – both as a growth regulator and a nutritional additive – emphasises its multifaceted utility.

Market Segmentation

The market can be divided based on source, end use, and region.

Market Breakup by Source

• Sea Water
• Rock Salt
• Others

Market Breakup by End Use

• Chemical Industry
• Food Grade Salt
• Road De-icing
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global sodium chloride market. Some of the major players explored in the report by Expert Market Research are as follows:

• K.G. International, Inc.
• Cargill Inc
• China National Salt Industry Corporation (CNSIC)
• Compass Minerals
• State enterprise Artyomsol
• Nobian
• Südwestdeutsche Salzwerke AG
• Salins Group
• Mitsui Group
• Rio Tinto Group

About Us

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.

*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.