NEW YORK , Aug. 16, 2024 /PRNewswire/ -- The global industrial salt market size is estimated to grow by USD 4.05 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of about 5.02% during the forecast period. Wide range of industrial applications of industrial salt is driving market growth, with a trend towards increasing production of salt in APAC using solar evaporation process.
However, stringent government regulations regarding pollution poses a challenge. Key market players include Cargill Inc., CK Hutchison Holdings Ltd.
, Compass Minerals International Inc., Dev Salt Pvt. Ltd.
, Dominion Salt Ltd., Donald Brown Group, INEOS AG, Irish Salt Mining and Exploration Co. Ltd.
, Israel Chemicals Ltd., KS Aktiengesellschaft, Mitsui and Co. Ltd.
, Nobian, Rio Tinto Ltd., Salins Group, Solvay SA, Sudwestdeutsche Salzwerke AG, Tata Sons Pvt. Ltd.
, Wacker Chemie AG, Wilson Resources Ltd., and ZOUTMAN NV. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Industrial Salt Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 5.
02% Market growth 2024-2028 USD 4056.2 million Market structure Fragmented YoY growth 2022-2023 (%) 4.69 Regional analysis APAC, North America, Europe, South America, and Middle East and Africa Performing market contribution APAC at 48% Key countries China, US, India, Germany, and Australia Key companies profiled Cargill Inc.
, CK Hutchison Holdings Ltd., Compass Minerals International Inc., Dev Salt Pvt.
Ltd., Dominion Salt Ltd., Donald Brown Group, INEOS AG, Irish Salt Mining and Exploration Co.
Ltd., Israel Chemicals Ltd., KS Aktiengesellschaft, Mitsui and Co.
Ltd., Nobian, Rio Tinto Ltd., Salins Group, Solvay SA, Sudwestdeutsche Salzwerke AG, Tata Sons Pvt.
Ltd., Wacker Chemie AG, Wilson Resources Ltd., and ZOUTMAN NV Market Driver The industrial salt market in Asia Pacific , specifically in countries like India and China , is experiencing substantial growth due to the rising adoption of the solar evaporation process in salt production.
This method, which dates back to ancient times, is favored due to the region's warm climates, steady winds, and abundant salty lakes and coastlines. Solar evaporation is a cost-effective and less complex process compared to other methods like brine extraction and rock salt mining. Key players such as Cargill and Dow are utilizing this process for salt production, leading to an increase in the number of vendors and driving the global industrial salt market growth during the forecast period.
The Industrial Salt Market is experiencing significant growth, driven by increasing demand for soda ash in the Chlor-alkali industry and de-icing applications on roadways. Soda ash is a key ingredient in the production of chlorine-alkali chemicals, including caustic soda and chlorine. Emerging economies are becoming major consumers, particularly in water treatment projects for purification processes and water softening.
Salt sources include natural resources like rock salt deposits, natural brine, sea water, and salty lakes. Sodium chloride, or table salt, is also a significant source. Mercury-based technology is being phased out due to environmental concerns, leading to capacity expansions using vacuum evaporation and solar evaporation processes.
Salt is also used in water desalination plants, oil and gas production, agriculture, and energy production facilities. Trends include the use of salt in cloud seeding, water desalination, and solar pools. The market is closely monitored by business publications like Bloomberg BusinessWeek.
Major applications include de-icing, water treatment, and chlor-alkali sector. Key players include companies involved in conventional mining, chemical processing, and the production of soda ash, rock salt, and other chlorine-alkali chemicals. Discover 360° analysis of this market.
For complete information, schedule your consultation - Book Here! Market Challenges For more insights on driver and challenges - Request a sample report! Segment Overview This industrial salt market report extensively covers market segmentation by 1.1 Rock salt- Rock salt, or halite, is a mineral primarily composed of sodium chloride, widely used for de-icing roads, sidewalks, and surfaces in snowy regions. It also finds applications in water treatment, agriculture, and various industrial processes.
The increasing demand for water treatment chemicals and the need to enhance agricultural output will fuel the market growth. Rock salt's diverse uses in industries such as plastics, paper, textiles, and detergents will further drive market expansion. The global industrial salt market is expected to witness significant growth due to the rising demand for rock salt in these sectors.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report Learn and explore more about Technavio's in-depth research reports Explore the dynamic global salts and flavored salts market , driven by rising culinary trends and increasing consumer demand for gourmet products. The global sodium bromide marke t, essential in industrial applications and pharmaceuticals, continues to expand with growing chemical and healthcare sectors. Meanwhile, the global salt market , encompassing table salt and industrial salt, remains robust due to its fundamental role in food preservation and industrial processes.
Together, these markets reflect diverse applications and steady growth, highlighting the evolving landscape of essential mineral products. Research Analysis The Industrial Salt Market encompasses various natural resources used to produce salt, including rock salt deposits, natural brine, sea water, and salty lakes. Salt is primarily extracted through conventional mining methods or through natural evaporation processes such as vacuum evaporation and solar evaporation.
Industrial salt finds extensive applications in various sectors, including de-icing, cloud seeding, water desalination, Chlor-alkali chemicals production, and water treatment industries. Sodium chloride, also known as rock salt and saltwater, is the most commonly produced salt. Mercury is a by-product of some salt production methods.
Salt is also used in solar pools, energy production facilities, oil and gas industries, and agriculture. Natural resources such as rock salt deposits, natural brine, sea water, and salty lakes are the primary feedstocks for the production of industrial salt. The extraction of salt from these resources involves conventional mining methods or natural evaporation processes such as vacuum evaporation and solar evaporation.
Industrial salt is a versatile chemical used in a wide range of applications, including de-icing, cloud seeding, water desalination, Chlor-alkali chemicals production, and water treatment industries. In the Chlor-alkali sector, salt is used as a raw material to produce chlorine and caustic soda. Solar evaporation processes are used to produce salt for water desalination plants, while vacuum evaporation is used to produce salt for various industrial applications.
Salt is also used in the production of sodium hydroxide, which is used in water treatment and various other industrial processes. Mercury, a by-product of some salt production methods, is a toxic heavy metal that requires careful handling and disposal. Industrial salt is also used in solar pools to maintain the desired water chemistry and in energy production facilities as a raw material for thermal energy storage.
In the oil and gas industry, salt is used as a drilling fluid and in the production of hydrocarbons. In agriculture, salt is used as a fertilizer and in the production of animal feed. Market Research Overview The Industrial Salt Market encompasses various natural resources such as rock salt deposits, natural brine, sea water, and salty lakes, which are the primary sources of producing sodium chloride or common table salt.
The extraction methods include conventional mining, vacuum evaporation, and solar evaporation processes. Industrial salt is extensively used in de-icing applications, water treatment, oil and gas industries, agriculture, and the production of caustic soda, chlorine, and soda ash. Emerging economies and the Chlor-alkali industry are significant consumers, while mercury-based technology is being phased out due to environmental concerns.
Capacity expansions, water treatment projects, and desalination plants are driving the demand for salt. The market also caters to niche applications such as cloud seeding, water softening, and purification processes. Sodium chloride is also used in energy production facilities, solar pools, and chlorine-alkali chemicals production.
Bloomberg BusinessWeek reported that the market is expected to grow due to increasing demand from various end-use industries. Additionally, de-icing applications on roadways and water desalination plants are significant contributors to the market's growth. Inventories and source availability are crucial factors influencing the market dynamics.
Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries.
Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.
com Website: www.technavio.com/ View original content to download multimedia: https://www.
prnewswire.com/news-releases/industrial-salt-market-size-is-set-to-grow-by-usd-4-05-billion-from-2024-2028--wide-range-of-industrial-applications-of-industrial-salt-boost-the-market-technavio-302222381.html SOURCE Technavio.
