According to IMARC Group latest report titled “Industrial Salts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on industrial salts market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. 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.
Industrial salts are sodium chloride manufactured industrially through rock salt or seawater extraction. These are used as raw materials to produce different chemicals. In the chemical industry, these are primarily used to manufacture caustic soda, chlorine, and soda ash. It finds usage in applications, such as chemical processing, water treatment, de-icing, agriculture, and oil and gas. It is mainly used to manufacture pulp, paper, alumina, soap and detergents, petroleum, and chemical products.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global market is majorly driven by the large availability of salt reserves. In line with this, the lack of cost-effective substitutes is positively influencing the market. Furthermore, a growing number of water treatment projects are expected to increase the usage of industrial salts. Apart from this, the rising brine application in the chemical processing industry for deriving chlorine and caustic soda is catalyzing the market. Moreover, the vast demand for industrial salts with penetration in a wide range of applications, including chemical processing, water treatment, and agriculture, is propelling the market. Besides this, the improved access to safe drinking water supplies and sanitation facilities is strengthening the product demand. Additionally, significant development in the paper and construction industries is fueling the growth of the global industrial salt market.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some 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
- Tata Chemicals Limited
Industrial Salts Market Segmentation:
Our report has categorized the market based on region, source, product, application and end use industry.
Breakup by Source:
- Salt Mines
Breakup by Product:
- Rock Salt
- Salt in Brine
- Solar Salt
- Vacuum Pan Salt
Breakup by Application:
- Chemical Processing
- Caustic Soda
- Soda Ash
- Oil and Gas
- Water Treatment
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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