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. 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.
Key segments of the global industrial salt market
Source Overview, 2015-2025 (USD Billion)
- Rock Salt
- Natural Brine
Manufacturing Process Overview, 2015-2025 (USD Billion)
- Conventional Mining
- Solar Evaporation
- Vacuum Pan Evaporation
Application Overview, 2015-2025 (USD Billion)
- Chemical Processing
- Water Treatment
- Oil & Gas
Regional Overview, 2015-2025 (USD Billion)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give a comprehensive outlook of the global industrial salt industry
- Industrial salt is widely used for various end uses owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing transportation and construction activities in the market, there is a rise in the demand for industrial salt which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global industrial salt market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of end uses, and type. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global industrial salt market is suitable for all the players across the value chain including raw material suppliers, industrial salt providers, construction, transportation, packaging end users, distributors, suppliers and retailers
- Venture capitalists and investors looking for more information on the future outlook of the global industrial salt market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global industrial salt market
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.