Salt has been one of the earth’s most essential and abundant minerals since the dawn of time. Salt, also known as sodium chloride is used on large scale for a wide range of applications in the market. It is an important part of human life and it is also used for large number of end-user industries in the market. Industrial salts are majorly used for applications which include chemical processing, agriculture, road de-icing, water softening other applications such as food processing and animal feed among others. The global industrial salt market report is segmented into applications into chemical processing, road-de-icing, water softening, agriculture and others. Among these, chemical processing accounted for major share of global industrial salts market in 2020 and is expected to rise in the near future. The caustic soda and chlorine manufacturing sectors are the industries driving the growth of global industrial salts market worldwide. Salt is widely used as a de-icing salt in the developing economies as they fall under the snowfall regions in the world. The highway and automobile corrosion problems have been well documented and hence, high demand is reported for industrial salts from the developing economies such as North America and Europe among others.
Asia Pacific accounted for largest share of global industrial salts market in 2020 and accounted for 38% share of global market. The countries such as China and India accounted as the major consumers of industrial salts due to increasing number of chemical industries. The rising demand for industrial salts in chloralkali chemicals production is the major factor driving market growth in the region. North America followed Asia Pacific in terms of demand and accounted as the second largest region for growth of industrial salts. Europe and other regions such as Latin America and Middle East are also expected to boost market growth in the near future.
Industrial salts market is expected to reach over US$ 13.0 Bn by 2029, growing at a CAGR of more than 1.4% during the forecast period 2021-2029.
Purpose of the Report
The purpose of this strategic research study titled “Global Industrial Salts Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global industrial salts market.
Target Audience
USP and Key Offerings
The report titled “Global Industrial Salts Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global industrial salts market along with the market size and estimates for the duration 2021 to 2029. The said research study covers in-depth analysis of multiple market segments based on end-user applications, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading industrial salts vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global industrial salts market, of growth, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above mentioned factors.
Chemical processing accounted for major share of global industrial salt market in 2020. The chemical industry was the major consumer of industrial salts and accounted for more than 43% of total salt sales. The caustic soda and chlorine manufacturing sector were the major consumers in the chemical industry. Road de-icing accounted for second largest share of global industrial salt market in 2021 and is expected to increase in the near future. The use of salt as a de-icing agent has been common since 1960’s in the areas where ice or snow is a seasonal roadway safety hazard. Highway bridge and automobile corrosion and ecosystem changes caused by the de-icing salts are well documented and hence salt is widely used in the regions of seasonal ice and snowfall. Regions such as North America and Europe widely use de-icing salts to provide safe environment conditions during the winter season in the regions. Hence, salt has high demand as a de-icing agent. Industrial salts have applications in wide range of end-user industries. Other applications of industrial salts such as water softening, agriculture and others that include animal feed and food processing, experienced steady growth but are projected to increase during the forecast period from 2021 to 2029.
Asia Pacific accounted for the largest share of global industrial salt market in 2020. It accounted for more than 38% share of global industrial salt market and is expected to increase in the near future. China and India are the major consumers of industrial salt in the region. Increasing production of chloralkali chemicals in the region is the major factor driving the growth of global industrial salt in Asia Pacific. Moreover, growing chemical industry in the region is also one among the factors contributing to the growth of global industrial salt market in the region. North America followed Asia Pacific in terms of growth and is expected to increase in the near future. Rising demand for industrial salt as de-icing agent is the boosting growth of industrial salt in the region. Europe is also projected to fuel demand for industrial salts, as it is widely used as a de-icing agent for removal of snow and ice from the highways and roadways to prevent accidents. Other regions such as Middle East & Africa and Latin America are also projected to boost market demand for industrial salt during the forecast period from 2021 to 2029.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Industrial Salts market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Applications
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
