Industrial Salts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Industrial Salts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global industrial salts market reached a value of US$ 14.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.1 Billion by 2027, exhibiting a CAGR of 3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Industrial salts, or sodium chloride, is a white crystalline solid manufactured using seawater and rock salt deposits. It is conventionally produced by mining, vacuum evaporation, and solar evaporation processes. Industrial salt finds a wide range of applications in chemical processing, de-icing, water treatment, and farming. In the oil and gas industry, it is utilized in cleaning oil and gas wells to improve soil and mud density and create an efficient and safe drilling rig. It is also employed in the manufacturing of glass, polyester, tires, case-hardened steel and brass, and leather.

Industrial Salts Market Trends:
The global industrial salts market is primarily driven by its growing demand as a key raw material for producing caustic soda, chlorine and soda ash. Various water treatment projects across the globe also employ industrial salt for water softening and purification. Besides this, industrial salt is widely utilized in the paper and pulp industry for washing, bleaching, neutralization, and pulping wastepaper as it is cheaper than natural salt. Moreover, industrial salt is used to remove ice and snow from roads for creating a safe and clean driving surface. In the pharmaceutical industry, it is utilized for producing saline solutions and manufacturing capsules. Furthermore, industrial salt is extensively used in the chlor-alkali sector as a filler in detergents and solvents due to the lack of a suitable economic substitute, easy availability in large quantities, and cost-effectiveness.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial salts market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on source, product and application.

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
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles 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 and Tata Chemicals Limited.
Key Questions Answered in This Report:
How has the global industrial salts market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global industrial salts market?
What are the key regional markets?
What is the breakup of the market based on the source?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global industrial salts market and who are the key players?
What is the degree of competition in the industry?