Industrial Salt Market

Industrial Salt Market Size & Growth (2023-2028)

The industrial salt market is predicted to grow from $ 12.53 billion in 2022 to $ 14.89 billion in 2028, with a CAGR of 2.1% from 2023-2028. Industrial salts are obtained through the use of natural resources such as deposits of minerals or natural salts.

These are produced by conventional extraction, vacuum evaporation, or solar evaporation processes. The escalated production of Chlor-alkali, due to the escalating call for ethylene dichloride, is also an important expansion factor for the worldwide industrial salt market. Industrial salts are explained as sodium chloride made industrially by extraction from rock salt that is then purified and combined with additives according to the needs of the particular use. Industrial salts find use in applications such as chemical treatment, water treatment, thawing, agriculture, oil, and gas, among others. The salt industry includes companies that operate by different methods including the extraction of salt from the subsoil by pumping and dissolving, extraction of salt from brine wells and mines, purification, and refining of salt, crushing, and evaporation of seawater. In addition, this sector produces salt for human use, commonly known as table salt. Most of the time, salt is employed as a seasoning in food products or in food processing. Industry products include iodized sea salt and fine salt.

Industrial Salt Market Trends:

The call for industrial salts is driven by the expansion of its fields of application. Chemical treatment is the main application of industrial salts. Industrial salts are employed particularly as raw materials in the manufacture of caustic soda, chlorine, and sodium carbonate. The growing call for these chemicals is predicted to lead to the consumption of industrial salts. A strong call for these chemicals is predicted in emerging economies such as China and India. Asia-Pacific is predicted to be the fastest-growing market for the Chlor-alkali industry.

Recent Developments in the Industrial Salt Market:

• The Korean herbal firm Phyto Corporation has introduced its first plant-based vegetable salt in the nation, photostat which the firm claims are low in sodium and free of microplastics.
• Tata Chemicals Magadi has started looking for ways to make greater use of its untapped resources and strengthen its profile in the agricultural sector of the East African country. The launch of two flagship saline products for Kenyan cattle is the culmination of a long journey of market analysis and the acquisition of new marketing skills.

Industrial Salt Market Drivers:

Escalated call and need for industrial salt in major application sectors, including the oil and gas industry, road de-icing, chemical treatment, agriculture, and water treatment, mainly for the production of caustic soda, chlorine, and carbonate sodium, should lead to the development. the market in the future. The industry is predicted to see significant development due to a wide range of direct uses such as agriculture and deicing and indirect use with the chemical processing sector for caustic soda and chlorine. The Chlor-alkali division in the chemical sector allows maximum use of the product due to the inaccessibility of any monetary alternative for the product. The world market for industrial salt is predicted to grow strongly due to escalating technological advances in the production of high-purity salt, for example, vacuum vessel technology.

Industrial Salt Market Restraints:

The implementation of the technology is relatively low due to the existence of low-cost manufacturing methods, for example, solution mining, conventional mining, and solar evaporation.

Opportunities in the Industrial Salt Market:

Industrial salts also find their applications in solar pools and certain energy production facilities that should open up new opportunities in the coming years. Maintains the salinity required for energy production. Escalating industrialization is primarily driving the world market for industrial salt due to the wide range of industrial applications of these salts. Furthermore, industrial salt is cheaper than natural salt, further catalyzing the expansion of the worldwide industrial salt market, as all companies need cheaper sources of natural resources such as industrial salt. The escalating call for industrial salt in the food and beverage industry is also driving the expansion of the worldwide market for industrial salt as it is employed in various food products. Furthermore, industrial salt is not difficult to find and is available everywhere thanks to the worldwide supply chain, which has made the product available everywhere. Therefore, the ease of availability of the product is also driving the expansion of the worldwide industrial salt market.

Challenges in the Industrial Salt Market:

However, strict regulations regarding the production and use of industrial salts and environmental pollution are predicted to hamper the expansion of the world market to some extent.

INDUSTRIAL SALT MARKET REPORT COVERAGE:

Industrial Salt Market Segmentation:

By Application:

• Pharmaceutical

• Chemical processing

• Oil and gas

• Agriculture

• De-icing

• Water treatment

• Others

Chemical processing is predicted to grow rapidly over the next eight years. The chemical industry uses these industrial salts to complete the process of many products such as sodium carbonate, caustic soda, and chlorine. A large amount of salt is employed in the manufacture of soaps because it separates many components necessary for its manufacture.

By Production:

• Solar salt

• Harvested from the inland wetlands or sea

Salt can be mined underground using traditional mining (rock salt). Rock salt is predicted to occupy the largest market share in the coming years due to the presence of numerous salt mines in the world.

Industrial Salt Regional Analysis:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

The market for industrial salts in Europe is predicted to grow slowly as the European chlor-alkali industry undergoes a transition with the ban on mercury-based technology for the manufacture of caustic soda. Several manufacturing facilities are in the process of conversion or closure due to the transition. However, the market is predicted to recover once the transition is complete. Also, an escalating number of water treatment projects are predicted to increase the use of industrial salts. Several water treatment projects are underway that would increase the call for industrial salts. For example, in India, no less than 27 water treatment projects are under construction or in the pre-construction phase. These projects would use industrial salts for the water softening and purification process. The use of industrial salts for thawing is highly dependent on geography and regional climate models. Countries with a high expectation of snow store industrial salts for snow removal from roads. There have been cases of salt shortages for road deicing in the past. As a result, countries began to accumulate more inventories for deicing applications. The United States and China together are predicted to account for the largest market share. China is predicted to increase production due to escalated calls and popularity and is predicted to grow at a significant rate in the coming years. The rapid industrialization of the Asia-Pacific region and the escalating call and requirements of the product in the chemical sectors are predicted to increase its use in the coming years. The worldwide North American industrial salt market is predicted to see expansion due to its widespread use for thawing, especially in extreme weather conditions. The United States world market is likely to account for a substantial market share, primarily due to escalating call for products and requirements for chemical treatment and road deicing.

Industrial Salt Market Key Players:

Key players considered in the analysis of the industrial salts market are

1. K+S AG (Germany)
2. Cargill, Inc. (U.S.)
3. Compass Minerals America Inc. (U.S.)
4. China National Salt Industry Co. (China)
5. Tata Chemicals Ltd. (India)
6. Mitsui & Co. Ltd. (Japan)
7. Rio Tinto Group (U.K.)
8. Dominion Salt Ltd. (New Zealand)