Industrial Salts Market is Anticipated to Play a Significant Role in Chemicals Industry
Author : Lopa Shree | Published On : 16 Apr 2021
Global Industrial Salts Market is anticipated to reach USD 15.9 billion by 2025. Industrial salts find their applications in industry verticals such as pharmaceuticals, chemicals, and food processing. The most extensive usage has been found in food processing industry for flavoring and preservation. However, they could cause cardio vascular disease, increased blood pressure due to higher content of sodium. Additionally, industrial salts absorb moisture due to their hygroscopic nature. This influences the use of industrial salts in de-icing applications, as their use can lead to corrosion in metallic structures, automotive parts, and slippery roads.
Furthermore, industrial salts are mainly used as raw material for the production of chlorine, soda ash, and caustic soda. The rising demand for these chemicals will upsurge the consumption of industrial salts in the years to come. Industrial Salts industry is anticipated to grow at a significant CAGR of 2.4% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Industrial Salts Market may be explored by source, product, application, and geography. The market may be explored by source as Brine, and Salt mines. The “Brine source” segment dominated the Industrial Salts industry in 2016 and is anticipated to maintain its dominance by 2025. Brine is a high-concentration saline mixture, which is obtained from large waterbodies and dissolving mine deposits through solution mining method. The market may be explored by product as Salt in brine, Rock salt, Solar salt, and Vacuum pan salt. “Rock salt” segment dominated the market in 2016, covering 38.0% of the market share by volume.
Industrial Salts Market may be explored by application as Chemical processing may be further explored as Soda ash, Caustic soda, Chlorine), Oil & Gas, De-icing, Agriculture, food processing, Water treatment, and Others. The “chemical processing application” segment dominated the Industrial Salts industry in 2016 and is anticipated to maintain its dominance by 2025 owing to increasing demand for the product in chlor alkali applications, and chemical processing, mainly in India and China. Asia-Pacific accounted for the major share of the industrial salts market Size in 2016 and will continue to lead in the forecast period. China is a leading consumer of Industrial Salts in Asia Pacific region. Further, North America is expected to witness growth in the years to come.
Some of the key players that fuel the growth of the industrial salts industry comprise Amra Salt Co., AkzoNobel N.V., Cargill, Inc., Atisale S.P.A., Compass Minerals International Inc., Ck Life Sciences International Holdings Inc., Dominion Salt Ltd, Donald Dev Salt Pvt. Ltd., ItalkaliSocietaItaliana SaliAlcalini S.P.A, Exportadora De Sal De C.V., Brown Group, Infosa, Ineos Group Holdings S.A., Mitsui & Co. Ltd., Irish Salt Mining & Exploration Co. Ltd., and China National Salt Industry Corporation (Cnsic). The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Source Outlook (Volume, Million Tons, Revenue, USD Million, 2014 - 2025)
• Salt mines
Product Outlook (Volume, Million Tons, Revenue, USD Million, 2014 - 2025)
• Rock salt
• Salt in brine
• Solar salt
• Vacuum pan salt
Application Outlook (Volume, Million Tons, Revenue, USD Million, 2014 - 2025)
• Chemical processing
• Caustic soda
• Soda ash
• Oil & Gas
• Water treatment
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