NEW
YORK, Aug. 16, 2024 /PRNewswire/ -- The global
industrial salt market size is estimated to grow by USD 4.05 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
about 5.02% during the forecast period. Wide range of
industrial applications of industrial salt is driving market
growth, with a trend towards increasing production of
salt in APAC using solar evaporation process.
However, stringent government regulations regarding pollution
poses a challenge. Key market players include Cargill Inc.,
CK Hutchison Holdings Ltd., Compass Minerals International Inc.,
Dev Salt Pvt. Ltd., Dominion Salt Ltd., Donald Brown Group, INEOS
AG, Irish Salt Mining and Exploration Co. Ltd., Israel Chemicals
Ltd., KS Aktiengesellschaft, Mitsui and Co. Ltd., Nobian, Rio Tinto
Ltd., Salins Group, Solvay SA, Sudwestdeutsche Salzwerke AG, Tata
Sons Pvt. Ltd., Wacker Chemie AG, Wilson Resources Ltd., and
ZOUTMAN NV.
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Industrial Salt
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.02%
|
Market growth
2024-2028
|
USD 4056.2
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.69
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 48%
|
Key
countries
|
China, US, India,
Germany, and Australia
|
Key companies
profiled
|
Cargill Inc., CK
Hutchison Holdings Ltd., Compass Minerals International Inc., Dev
Salt Pvt. Ltd., Dominion Salt Ltd., Donald Brown Group, INEOS AG,
Irish Salt Mining and Exploration Co. Ltd., Israel Chemicals Ltd.,
KS Aktiengesellschaft, Mitsui and Co. Ltd., Nobian, Rio Tinto Ltd.,
Salins Group, Solvay SA, Sudwestdeutsche Salzwerke AG, Tata Sons
Pvt. Ltd., Wacker Chemie AG, Wilson Resources Ltd., and ZOUTMAN
NV
|
Market Driver
The industrial salt market in Asia
Pacific, specifically in countries like India and China, is experiencing substantial growth due
to the rising adoption of the solar evaporation process in salt
production. This method, which dates back to ancient times, is
favored due to the region's warm climates, steady winds, and
abundant salty lakes and coastlines. Solar evaporation is a
cost-effective and less complex process compared to other methods
like brine extraction and rock salt mining. Key players such as
Cargill and Dow are utilizing this process for salt production,
leading to an increase in the number of vendors and driving the
global industrial salt market growth during the forecast
period.
The Industrial Salt Market is experiencing significant growth,
driven by increasing demand for soda ash in the Chlor-alkali
industry and de-icing applications on roadways. Soda ash is a key
ingredient in the production of chlorine-alkali chemicals,
including caustic soda and chlorine. Emerging economies are
becoming major consumers, particularly in water treatment projects
for purification processes and water softening. Salt sources
include natural resources like rock salt deposits, natural brine,
sea water, and salty lakes. Sodium chloride, or table salt, is also
a significant source. Mercury-based technology is being phased out
due to environmental concerns, leading to capacity expansions using
vacuum evaporation and solar evaporation processes. Salt is also
used in water desalination plants, oil and gas production,
agriculture, and energy production facilities. Trends include the
use of salt in cloud seeding, water desalination, and solar pools.
The market is closely monitored by business publications like
Bloomberg BusinessWeek. Major applications include de-icing, water
treatment, and chlor-alkali sector. Key players include companies
involved in conventional mining, chemical processing, and the
production of soda ash, rock salt, and other chlorine-alkali
chemicals.
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Market Challenges
- The industrial salt market faces challenges due to increasing
regulations aimed at reducing industrial pollution. The US
Environmental Protection Agency (USEPA) has implemented laws under
the Greenhouse Gas Reporting Program (GHGRP) and National Emission
Standards for Hazardous Air Pollutants (NESHAP), which impact major
salt end-users like the plastic industry. These regulations have
led to significant spending on pollution reduction, increasing
operational costs. In the ceramic and leather tanning industries,
vendors are also focusing on reducing their carbon footprints and
adhering to stringent norms. These efforts are decelerating small
vendors' operations, potentially hindering the growth of the global
industrial salt market.
- The Industrial Salt Market faces several challenges in various
sectors. In the Chlor-alkali industry, the production of Soda Ash
is a significant concern due to the phase-out of Mercury-based
technology. Emerging economies present both opportunities and
challenges with increasing demand for water treatment projects,
including water softening and purification processes. De-icing
applications in roadways require large inventories of salt,
primarily Sodium Chloride, Rock Salt, or Saltwater. Bloomberg
BusinessWeek reports that capacity expansions in the Chlor-alkali
sector, driven by water desalination plants, are increasing the
demand for Chlorine-alkali chemicals. Mercury, a byproduct of
Chlor-alkali production, remains a concern for environmental
regulations. Solar pools and energy production facilities use large
quantities of water, increasing the demand for salt in Water
treatment industries. Natural resources like Rock salt deposits,
Natural brine, Sea water, and Salty lakes are the primary sources
for salt production through conventional mining, vacuum
evaporation, and solar evaporation processes. The Oil and Gas
industry and Agriculture also rely on Caustic Soda and Chlorine for
various applications. De-icing, Water treatment, and
Chlorine-alkali chemicals production are key markets for Industrial
Salt. Sodium Chloride, Rock Salt, and Sodium Chloride from
Saltwater are the primary types of salt used in these
applications.
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Segment Overview
This industrial salt market report extensively covers market
segmentation by
- Source
- 1.1 Rock salt
- 1.2 Natural brine
- Application
- 2.1 Chemical processing
- 2.2 Deicing
- 2.3 Water treatment
- 2.4 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Rock salt- Rock salt, or halite, is a mineral
primarily composed of sodium chloride, widely used for de-icing
roads, sidewalks, and surfaces in snowy regions. It also finds
applications in water treatment, agriculture, and various
industrial processes. The increasing demand for water treatment
chemicals and the need to enhance agricultural output will fuel the
market growth. Rock salt's diverse uses in industries such as
plastics, paper, textiles, and detergents will further drive market
expansion. The global industrial salt market is expected to witness
significant growth due to the rising demand for rock salt in these
sectors.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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Research Analysis
The Industrial Salt Market encompasses various natural resources
used to produce salt, including rock salt deposits, natural brine,
sea water, and salty lakes. Salt is primarily extracted through
conventional mining methods or through natural evaporation
processes such as vacuum evaporation and solar evaporation.
Industrial salt finds extensive applications in various sectors,
including de-icing, cloud seeding, water desalination, Chlor-alkali
chemicals production, and water treatment industries. Sodium
chloride, also known as rock salt and saltwater, is the most
commonly produced salt. Mercury is a by-product of some salt
production methods. Salt is also used in solar pools, energy
production facilities, oil and gas industries, and agriculture.
Natural resources such as rock salt deposits, natural brine, sea
water, and salty lakes are the primary feedstocks for the
production of industrial salt. The extraction of salt from these
resources involves conventional mining methods or natural
evaporation processes such as vacuum evaporation and solar
evaporation. Industrial salt is a versatile chemical used in a wide
range of applications, including de-icing, cloud seeding, water
desalination, Chlor-alkali chemicals production, and water
treatment industries. In the Chlor-alkali sector, salt is used as a
raw material to produce chlorine and caustic soda. Solar
evaporation processes are used to produce salt for water
desalination plants, while vacuum evaporation is used to produce
salt for various industrial applications. Salt is also used in the
production of sodium hydroxide, which is used in water treatment
and various other industrial processes. Mercury, a by-product of
some salt production methods, is a toxic heavy metal that requires
careful handling and disposal. Industrial salt is also used in
solar pools to maintain the desired water chemistry and in energy
production facilities as a raw material for thermal energy storage.
In the oil and gas industry, salt is used as a drilling fluid and
in the production of hydrocarbons. In agriculture, salt is used as
a fertilizer and in the production of animal feed.
Market Research Overview
The Industrial Salt Market encompasses various natural resources
such as rock salt deposits, natural brine, sea water, and salty
lakes, which are the primary sources of producing sodium chloride
or common table salt. The extraction methods include conventional
mining, vacuum evaporation, and solar evaporation processes.
Industrial salt is extensively used in de-icing applications, water
treatment, oil and gas industries, agriculture, and the production
of caustic soda, chlorine, and soda ash. Emerging economies and the
Chlor-alkali industry are significant consumers, while
mercury-based technology is being phased out due to environmental
concerns. Capacity expansions, water treatment projects, and
desalination plants are driving the demand for salt. The market
also caters to niche applications such as cloud seeding, water
softening, and purification processes. Sodium chloride is also used
in energy production facilities, solar pools, and chlorine-alkali
chemicals production. Bloomberg BusinessWeek reported that the
market is expected to grow due to increasing demand from various
end-use industries. Additionally, de-icing applications on roadways
and water desalination plants are significant contributors to the
market's growth. Inventories and source availability are crucial
factors influencing the market dynamics.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Source
-
- Application
-
- Chemical Processing
- Deicing
- Water Treatment
- Others
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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Contacts
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Email: media@technavio.com
Website: www.technavio.com/
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