The global industrial salt market is anticipated to reach USD 15.90 billion by 2025, growing at a CAGR of 2.9% over the forecast period from 2019 to 2025. The market for the industrial salts is guided by the rise in development owing to the number of applications. The use of the product in the chemical processing applications to manufacture soda ash, chlorine and caustic soda has driven the demand for the industrial salt market over the forecast period.
Adroit Market Research report on global industrial salt market gives a holistic view of the market from 2015 to 2025, which includes factors such as market drivers, restraints, opportunities, challenges and regulatory scenario. The market has been studied for historic years from 2015 to 2017, with the base year of estimation as 2018 and forecast from 2019 to 2025. The report covers the current status and future traits of the market at global as well as country level.
In addition, the study also assesses the market competition with Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives and overall revenue. Prominent players operating in the global industrial salt market have been studied in detail.
Strong demand for such chemicals is anticipated in emerging economies such as China and India. Asia Pacific is expected to be the fastest-growing region for chlor-alkali industry. Brazil and Chile are influential growing as well as consuming nations in the region, supplying a substantial volume of the commodity to North America and Europe. In addition, the increasing demand for drugs in agricultural applications is expected to increase captive consumption in the area.
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 operating in 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