The global industrial salt market was valued at USD 13.41 billion in 2019. The market is attributed to grow at a CAGR of 2.9% over the forecast period of 2019 to 2025. Consistent demand for industrial salt is projected to fuel growth over the forecast timeframe in chief application industries like chemical manufacturing, highway de-icing, water treatment, agriculture, and oil & gas industry, and for the manufacture of caustic soda, chlorine, and soda ash.
Industrial salt production has been augmented over the years to provide to the rising demand owing to a broad variety of direct end use of the product such as agricultural purposes and deicing.
The Industrial Salt Market is expected to reach 20.3 Bn during the forecast period at a 4 C% CAGR.
Moreover, the indirect uses of the industrial salt help to extract chlorine and caustic soda to be used in the chemical manufacturing sector. In the chemical industry, the chlorine-alkali market has a significant user of the product owing to the unavailability of any commercial alternative to the commodity.
The global industrial salt market is categorized based on source, manufacturing process and application. Region wise, Asia Pacific was the largest market in 2018, and is anticipated to grow at a significant CAGR over the forecast period. North America is expected to grow at a significant rate over the coming years.
Key players serving the global industrial salt market include K+S AG, Compass Minerals America Inc., Cargill, Inc., Dominion Salt Ltd., China National Salt Industry Co., Mitsui & Co. Ltd., Tata Chemicals Ltd., Rio Tinto Group, and Exportadora de Sal de C.V. among others.
Industrial Salt Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||US$ 20.3 Bn|
|Growth Rate||CAGR of 4 % during 2022-2031|
|Segment Covered||By Grade, By Source, By production Process, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Cargill, Inc. (US), K+S AG (Germany), Compass Minerals International Inc. (US), Dominion Salt Ltd (New Zealand),China National Salt Industry (China), Tata Chemicals Ltd (India), Rio Tinto Plc. (UK), Mitsui & Co. Ltd (Japan), Ineos Group Holdings S.A. (Switzerland), CK Life Sciences International Holdings Inc. (China), COMPAGNIE DU SALINS DU MIDI AND SALINES DE L'EST (France), Dominion Salt Ltd. (New Zealand), Exportadora de Sal de C.V. (Mexico)., Nouryon, Archean Group, Cargill, Incorporated, Delmon Group of Companies, Salins IAA, Morton Salt, Inc., Donald Brown Group|
Key Segment Of The Industrial Salt Market
By Grade, 2022-2030 (USD Million)
• Grade-I Industrial Salt
• Grade-II Industrial Salt
By Source, 2022-2030 (USD Million)
• Rock Salt
• Natural Brine
By Production Process, 2022-2030 (USD Million)
• Conventional Mining
• Solar Evaporation
• Vacuum Evaporation
By Application, 2022-2030 (USD Million)
o Industrial Salt for Chemical Processing
• Caustic Soda
• Soda Ash
• Industrial Salt for Power Industry
• Industrial Salt for Oil & Gas Industry
• Industrial Salt for Water Treatment Industry
• Industrial Salt for De-Icing
Regional Overview, 2022-2030 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The global industrial salt market has seen strong development over the past couple of years with its end-business, and is anticipated to continue in the coming years. The main driving factor would be a rise in demand for product in various end-industries such as chemical processing, de-icing, water treatment, oil & gas, and agriculture.
Increasing technical advances relating to the manufacture of high purity salt using the vacuum pan technology, has anticipated the demand to expand over the coming years. However, due to the availability of low-cost processing technologies such as solution mining, traditional mining, and solar evaporation, the acceptance of the technology is highly anticipated in the global market.
Deposits or solar evaporation operations are accessible in nearly any nation across the world, with various output capacities. The countries with less reserves mostly import the product; and few of the landlocked African countries have sources in the form of rock salt deposits. Additionally, the absence of a suitable substitute is anticipated to drive production of the industrial salt over the coming years.
The global industrial salt market has been segmented based on source, manufacturing process, and application. Based on sources, the market is segmented into rock salt, and natural brine. Chemical processing, de-icing, water treatment, oil & gas and agriculture are the chief applications studied in this report.
The rock salt supply segment is expected to be the greater segment of the industrial salt industry. The high demand of the rock salt can be due to the existence of large salt mines across the globe. Rock salt deposits may be successfully mined utilizing traditional mining methods or the extraction method of the solution.
Industrial salt market segment for chemical processing applications is expected to see the fastest growth. The growth of this market segment can be due to the usage of industrial salt in the manufacture of different goods, such as caustic soda, soda ash, and chlorine as a raw material in the industry.
The global industrial salt market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific dominated the global industrial salt market in 2018, however North America is expected to grow at a significant pace through the year 2025.
Asia Pacific accounts for the largest market share in the industrial salt industry due to the presence of some prominent players in the region. The growing demand for industrial salts from the leading countries in Asia Pacific such as China and India can be attributed to the growth in the water treatment and chemical processing sector. The growth observed in the chlor-alkali industry along with the rising number of plants associated with water treatment has anticipated the demand in the market over the forecast period.