New York, June 30, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Salt Market - Global Outlook & Forecast 2023-2028" - https://www.reportlinker.com/p05881124/?utm_source=GNW
Chloride, commonly used for cleaning, produces various chemicals, drugs, and plastics, with over 85% of medicines, including lifesaving drugs, produced using chlorine. Caustic soda and soda ash, produced using salt, are critical components in various industrial operations, including pulp and paper, chemical processing, and detergent. The pharmaceutical industry, which is growing rapidly, is a major end-user of industrial salt, with over 50% of all drugs administered by salt. The increasing demand for pharmaceutical products, particularly in developing countries, is driving the growth of the industrial salts market.
Rising Demand for Water Treatment
Water quality is a crucial factor in various industrial sectors, such as textile and tanning, as hard water can result in adverse effects such as bleaching, uneven dyeing, and decreased lifespan of fabrics. Soft water, on the other hand, decreases the cleaning cost, increases the equipment’s lifespan, and improves efficiency. In both residential and industrial settings, water softeners are widely used to mitigate the negative impacts of hard water. The global water softener market is expected to cross USD 5.7 billion in 2027, with salt-based water softeners accounting for most of the market share. The demand for portable water consumption, coupled with the rise in water-borne diseases and strict regulations related to water treatment in various sectors, is expected to drive market growth. Asia Pacific dominates the water treatment market, followed by Europe. China, Japan, South Korea, and India are the key markets in the former, and the U.K., France, Italy, and Germany in the latter.
INDUSTRY RESTRAINTS
Winter Weather Variability Affecting Salt Sales for De-icing
Industrial salt is widely used for de-icing, which accounts for approximately 20% of global consumption. Studies conducted in Wisconsin indicate that using salt for snow melting can significantly reduce road accidents by 88% and accident costs by 85%. Key markets for salt de-icing include the U.S., Canada, and Northern Europe, where a considerable amount of salt is used for de-icing roadways, sidewalks, and walkways. In the U.S., around 19 million tons of salt is used for de-icing annually, while in Canada, the number is around 5 million tons. However, the industrial salt market is significantly impacted by any fluctuations in the winter climate as it directly impacts the demand and price of salt for de-icing.
SEGMENTATION INSIGHTS
INSIGHTS BY PROCESS
The global industrial salt market by process type is divided into extractor and steamer. Industrial salt can be obtained from different sources, including steam and extraction methods. The steaming process involves the evaporation of seawater or brine under controlled conditions. There are two types of steaming methods: solar and vacuum evaporation. Solar evaporation involves using large, shallow ponds or lakes where seawater or brine evaporates naturally under the sun. This process takes some months to complete, and the resultant salt is called solar salt. The streamer process is a promising technology for the salt industry that offers more sustainable and higher-quality salt production methods. The availability of saline seawater to produce saltwater or brine has primarily driven market consumption.
Segmentation by Process
• Extractor
• Steamer
INSIGHTS BY PRODUCT TYPE
Salt is an essential natural resource that has various applications across diverse industries. The global industrial salt market by product types of segments such as solar salt, rock mining salt, salt in brine, and vacuum salt. Salt is a significant raw material used in multiple manufacturing industries. Common sectors include chemical industries, oil, and gas, de-icing, paper, pulp, etc. Trusted producers and suppliers distribute millions of tons of salt to consumers worldwide. To manage the large volume efficiently of industrial salt, various strict protocols and standards must be considered to ensure the product’s quality, purity level, and efficiency level.
Segmentation by Product Type
• Solar Salt
• Rock Salt
• Salt in Brine
• Vacuum Salt
INSIGHTS BY END-USER
The global industrial salt market has various end-users across various sectors. Some key end-users of industrial salt include the chemical industry, where salt is used as a raw material for producing various chemicals such as soda ash, chlorine, and caustic soda. The chemical industry is the largest global industrial salt market end-users, accounting for approximately 51% share in 2022. The oil and gas industry uses salt in drilling operations as a component of drilling fluids.
Segmentation by End-user
• Chemical Industry
• De-icing
• Water Treatment
• Oil & Gas Industry
• Others
GEOGRAPHICAL ANALYSIS
APAC dominated the global industrial salts market, accounting for over 45% of the global consumption by volume. The Asia-Pacific region is the fastest-growing market, driven by growing industrialization, population growth, and increasing demand for processed food and chemicals. India, China, and Japan are the key markets in this region, with China being the largest producer and consumer of industrial salt globally. The growth in urbanization in East Asian countries is driving the construction market in the region. PVC and glass are the key materials of construction. Again, industrial salt is used as a primary raw material for producing PVC and glass, thus, boosting the growth of the industrial salt market in the region.
Segmentation by Geography
• APAC
o China
o India
o Australia
o Japan
o South Korea
• North America
o The U.S.
o Canada
• Europe
o Germany
o The U.K.
o Russia
o France
o Poland
• Middle East & Africa
o Iran
o Saudi Arabia
o UAE
o Turkey
o Egypt
• Latin America
o Brazil
o Mexico
o Rest of Latin America
COMPETITIVE LANDSCAPE
The global industrial salt market is favorably competitive, with several global and regional players operating. Cargill, Compass Minerals, Akzo Nobel, K+S AG, Tata Chemicals, INEOS Salt, and China National Salt Industry Corporation are key players in the global industrial salt market, with significant industry shares. These players use various strategies to maintain their competitive edge, including product innovation and development, mergers and acquisitions, and expanding production capacity. For example, some companies focus on producing low-sodium salt for the food industry. Others are investing in expanding their de-icing business in Europe or strengthening their position in the Latin American market by building a new salt plant in Chile. The industrial salt market is expected to witness intense competition in the coming years due to increasing demand and evolving customer preferences.
Key Company Profiles
• Cargill
• Compass Mineral America
• Dominion Salt
• Rio Tinto
• Tata Chemicals
• K+S Aktiengesellschaft
• China National Salt Industry Group Co. Ltd
• INEOS
Other Prominent Vendors
• Wilson Salt
• ICL Salt
• Irish Salt Mining
• Nobian
• Donald Brown Group
• Delmon
• Mitsui & Co.
• Morton Salt
• Archean Chemical Industries
• Zoutman
• Swiss Salt Works
• Salins Group
• Amra Salt Factory
• CIECH GROUP
• American Rock Salt
KEY QUESTIONS ANSWERED:
1. How big is the industrial salt market?
2. What is the growth rate of the global industrial salt market?
3. What are the significant trends in the industrial salt market?
4. Which region dominates the global industrial salt market share?
5. Who are the key players in the global industrial salt market?
Read the full report: https://www.reportlinker.com/p05881124/?utm_source=GNW
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