Industrial Salt Market - Global Outlook & Forecast 2023-2028

Description

The global industrial salt market is expected to grow at a CAGR of 4.13% from 2022-2028.

MARKET TRENDS & OPPORTUNITIES

Increased Use of Salt in Chemical and Pharmaceutical Industries

Salt is an essential component of the chemical and pharmaceutical industry, where it is used for chemical synthesis and manufacturing of several commodities such as rubber, glass, paper, and textiles. 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
- China
- India
- Australia
- Japan
- South Korea
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- Russia
- France
- Poland
Middle East & Africa
- Iran
- Saudi Arabia
- UAE
- Turkey
- Egypt
Latin America
- Brazil
- Mexico
- 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?

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION
- 4.1.1 INCLUSIONS
- 4.1.2 EXCLUSIONS
- 4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
- 4.3.1 MARKET SEGMENTATION BY GEOGRAPHY
- 4.3.2 MARKET BY PROCESS TYPE
- 4.3.3 MARKET BY PRODUCT TYPE
- 4.3.4 MARKET BY END USER

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 PREMIUM INSIGHTS

7.1 REPORT OVERVIEW
7.2 ANALYSIS OF OPPORTUNITIES & CHALLENGES
7.3 SEGMENT ANALYSIS
7.4 REGIONAL ANALYSIS
7.5 COMPETITOR ANALYSIS

8 INTRODUCTION

8.1 OVERVIEW
- 8.1.1 APPLICATION BASED ON ANALYSIS
- 8.1.2 SALT PRODUCTION PROCESS
- 8.1.3 GLOBAL SALT PRODUCTION
- 8.1.4 GOVERNMENT REGULATION AND POLICIES
- 8.1.5 RISK FACTORS FOR MARKET
- 8.1.6 COVID-19 IMPACT ANALYSIS
- 8.1.7 GLOBAL ECONOMIC CONDITION

9 MARKET OPPORTUNITIES & TRENDS

9.1 RAPID PACE OF INDUSTRIALIZATION
9.2 GROWING USE OF SOLAR SALTS
9.3 EXPANSION OF SALT MINES & OTHER PRODUCTION FACILITIES

10 MARKET GROWTH ENABLERS

10.1 TECHNOLOGICAL ADVANCES IN SALT PRODUCTION
10.2 HIGH USE OF SALT IN CHEMICAL & PHARMACEUTICAL INDUSTRIES
10.3 RISE IN DEMAND FOR WATER TREATMENT SYSTEMS

11 MARKET RESTRAINTS

11.1 HEALTH & ENVIRONMENTAL ISSUES
11.2 LIMITED AVAILABILITY & HIGH PRICES OF RAW MATERIALS
11.3 ENDURING ECONOMIC SLOWDOWN
11.4 WINTER WEATHER VARIABILITY AFFECTING SALES OF DE-ICING SALTS
11.5 STRINGENT GOVERNMENT REGULATIONS

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 MARKET BY PROCESS
12.4 MARKET BY PRODUCT TYPE
12.5 MARKET BY END USER
12.6 FIVE FORCES ANALYSIS
- 12.6.1 THREAT OF NEW ENTRANTS
- 12.6.2 BARGAINING POWER OF SUPPLIERS
- 12.6.3 BARGAINING POWER OF BUYERS
- 12.6.4 THREAT OF SUBSTITUTES
- 12.6.5 COMPETITIVE RIVALRY

13 PROCESS

13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 EXTRACTOR
- 13.3.1 MARKET OVERVIEW
- 13.3.2 MARKET SIZE & FORECAST
- 13.3.3 MARKET BY GEOGRAPHY
13.4 STEAMER
- 13.4.1 MARKET OVERVIEW
- 13.4.2 MARKET SIZE & FORECAST
- 13.4.3 MARKET BY GEOGRAPHY

14 PRODUCT TYPE

14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 SOLAR SALT
- 14.3.1 MARKET SIZE & FORECAST
- 14.3.2 MARKET BY GEOGRAPHY
14.4 ROCK SALT
- 14.4.1 MARKET SIZE & FORECAST
- 14.4.2 MARKET BY GEOGRAPHY
14.5 SALT IN BRINE
- 14.5.1 MARKET SIZE & FORECAST
- 14.5.2 MARKET BY GEOGRAPHY
14.6 VACUUM SALT
- 14.6.1 MARKET SIZE & FORECAST
- 14.6.2 MARKET BY GEOGRAPHY

15 END USER

15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 CHEMICAL INDUSTRY
- 15.3.1 MARKET OVERVIEW
- 15.3.2 MARKET SIZE & FORECAST
- 15.3.3 MARKET BY GEOGRAPHY
15.4 DE-ICING
- 15.4.1 MARKET OVERVIEW
- 15.4.2 MARKET SIZE & FORECAST
- 15.4.3 MARKET BY GEOGRAPHY
15.5 WATER TREATMENT
- 15.5.1 MARKET OVERVIEW
- 15.5.2 MARKET SIZE & FORECAST
- 15.5.3 MARKET BY GEOGRAPHY
15.6 OIL & GAS INDUSTRY
- 15.6.1 MARKET OVERVIEW
- 15.6.2 MARKET SIZE & FORECAST
- 15.6.3 MARKET BY GEOGRAPHY
15.7 OTHERS
- 15.7.1 MARKET OVERVIEW
- 15.7.2 MARKET SIZE & FORECAST
- 15.7.3 MARKET BY GEOGRAPHY

16 GEOGRAPHY

16.1 MARKET SNAPSHOT & GROWTH ENGINE (REVENUE)
16.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
16.3 GEOGRAPHIC OVERVIEW

17 APAC

17.1 MARKET SIZE & FORECAST
17.2 PROCESS
- 17.2.1 MARKET SIZE & FORECAST
17.3 PRODUCT TYPE
- 17.3.1 MARKET SIZE & FORECAST
17.4 END USER
- 17.4.1 MARKET SIZE & FORECAST
17.5 KEY COUNTRIES (VOLUME)
- 17.5.1 CHINA: MARKET SIZE & FORECAST
- 17.5.2 INDIA: MARKET SIZE & FORECAST
- 17.5.3 AUSTRALIA: MARKET SIZE & FORECAST
- 17.5.4 JAPAN: MARKET SIZE & FORECAST
- 17.5.5 SOUTH KOREA: MARKET SIZE & FORECAST

18 NORTH AMERICA

18.1 MARKET SIZE & FORECAST
18.2 PROCESS
- 18.2.1 MARKET SIZE & FORECAST
18.3 PRODUCT TYPE
- 18.3.1 MARKET SIZE & FORECAST
18.4 END USER
- 18.4.1 MARKET SIZE & FORECAST
18.5 KEY COUNTRIES (VOLUME)
- 18.5.1 US: MARKET SIZE & FORECAST
- 18.5.2 CANADA: MARKET SIZE & FORECAST

19 EUROPE

19.1 MARKET SIZE & FORECAST
19.2 PROCESS
- 19.2.1 MARKET SIZE & FORECAST
19.3 PRODUCT TYPE
- 19.3.1 MARKET SIZE & FORECAST
19.4 END USER
- 19.4.1 MARKET SIZE & FORECAST
19.5 KEY COUNTRIES (VOLUME)
- 19.5.1 GERMANY: MARKET SIZE & FORECAST
- 19.5.2 UK: MARKET SIZE & FORECAST
- 19.5.3 RUSSIA: MARKET SIZE & FORECAST
- 19.5.4 FRANCE: MARKET SIZE & FORECAST
- 19.5.5 POLAND: MARKET SIZE & FORECAST

20 MIDDLE EAST & AFRICA

20.1 MARKET SIZE & FORECAST
20.2 PROCESS
- 20.2.1 MARKET SIZE & FORECAST
20.3 PRODUCT TYPE
- 20.3.1 MARKET SIZE & FORECAST
20.4 END USER
- 20.4.1 MARKET SIZE & FORECAST
20.5 KEY COUNTRIES (VOLUME)
- 20.5.1 IRAN: MARKET SIZE & FORECAST
- 20.5.2 SAUDI ARABIA: MARKET SIZE & FORECAST
- 20.5.3 UAE: MARKET SIZE & FORECAST
- 20.5.4 TURKEY: MARKET SIZE & FORECAST
- 20.5.5 EGYPT: MARKET SIZE & FORECAST

21 LATIN AMERICA

21.1 MARKET SIZE & OVERVIEW
21.2 PROCESS
- 21.2.1 MARKET SIZE & FORECAST
21.3 PRODUCT TYPE
- 21.3.1 MARKET SIZE & FORECAST
21.4 END USER
- 21.4.1 MARKET SIZE & FORECAST
21.5 KEY COUNTRIES (VOLUME)
- 21.5.1 BRAZIL: MARKET SIZE & FORECAST
- 21.5.2 MEXICO: MARKET SIZE & FORECAST
- 21.5.3 REST OF LATIN AMERICA: MARKET SIZE & FORECAST

22 COMPETITIVE LANDSCAPE

22.1 COMPETITION OVERVIEW

23 KEY COMPANY PROFILES

23.1 CARGILL
- 23.1.1 BUSINESS OVERVIEW
- 23.1.2 PRODUCT OFFERINGS
- 23.1.3 KEY STRATEGIES
- 23.1.4 KEY STRENGTH
- 23.1.5 KEY OPPORTUNITIES
23.2 COMPASS MINERALS AMERICA
- 23.2.1 BUSINESS OVERVIEW
- 23.2.2 PRODUCT OFFERINGS
- 23.2.3 KEY STRATEGIES
- 23.2.4 KEY STRENGTH
- 23.2.5 KEY OPPORTUNITIES
23.3 DOMINION SALT
- 23.3.1 BUSINESS OVERVIEW
- 23.3.2 PRODUCT OFFERINGS
- 23.3.3 KEY STRATEGIES
- 23.3.4 KEY STRENGTH
- 23.3.5 KEY OPPORTUNITIES
23.4 RIO TINTO
- 23.4.1 BUSINESS OVERVIEW
- 23.4.2 PRODUCT OFFERINGS
- 23.4.3 KEY STRATEGIES
- 23.4.4 KEY STRENGTH
- 23.4.5 KEY OPPORTUNITIES
23.5 TATA CHEMICALS
- 23.5.1 BUSINESS OVERVIEW
- 23.5.2 PRODUCT OFFERINGS
- 23.5.3 KEY STRATEGIES
- 23.5.4 KEY STRENGTH
- 23.5.5 KEY OPPORTUNITIES
23.6 K+S AKTIENGESELLSCHAFT
- 23.6.1 BUSINESS OVERVIEW
- 23.6.2 PRODUCT OFFERINGS
- 23.6.3 KEY STRATEGIES
- 23.6.4 KEY STRENGTH
- 23.6.5 KEY OPPORTUNITIES
23.7 CHINA NATIONAL SALT INDUSTRY GROUP
- 23.7.1 BUSINESS OVERVIEW
- 23.7.2 PRODUCT OFFERINGS
- 23.7.3 KEY STRATEGIES
- 23.7.4 KEY STRENGTH
- 23.7.5 KEY OPPORTUNITIES
23.8 INEOS GROUP
- 23.8.1 BUSINESS OVERVIEW
- 23.8.2 PRODUCT OFFERINGS
- 23.8.3 KEY STRATEGIES
- 23.8.4 KEY STRENGTH
- 23.8.5 KEY OPPORTUNITIES

24 OTHER PROMINENT VENDORS

24.1 WILSON SALT
- 24.1.1 BUSINESS OVERVIEW
- 24.1.2 PRODUCT OFFERINGS
24.2 ICL SALT
- 24.2.1 BUSINESS OVERVIEW
- 24.2.2 PRODUCT OFFERINGS
24.3 IRISH SALT MINES
- 24.3.1 BUSINESS OVERVIEW
- 24.3.2 PRODUCT OFFERINGS
24.4 NOBIAN
- 24.4.1 BUSINESS OVERVIEW
- 24.4.2 PRODUCT OFFERINGS
24.5 DONALD BROWN GROUP
- 24.5.1 BUSINESS OVERVIEW
- 24.5.2 PRODUCT OFFERINGS
24.6 DELMON
- 24.6.1 BUSINESS OVERVIEW
- 24.6.2 PRODUCT OFFERINGS
24.7 MITSUI & CO.
- 24.7.1 BUSINESS OVERVIEW
- 24.7.2 PRODUCT OFFERINGS
24.8 MORTON SALT
- 24.8.1 BUSINESS OVERVIEW
- 24.8.2 PRODUCT OFFERINGS
24.9 ARCHEAN CHEMICAL INDUSTRIES
- 24.9.1 BUSINESS OVERVIEW
- 24.9.2 PRODUCT OFFERINGS
24.10 ZOUTMAN
- 24.10.1 BUSINESS OVERVIEW
- 24.10.2 PRODUCT OFFERINGS
24.11 SWISS SALT WORKS
- 24.11.1 BUSINESS OVERVIEW
- 24.11.2 PRODUCT OFFERINGS
24.12 SALINS GROUP
- 24.12.1 BUSINESS OVERVIEW
- 24.12.2 PRODUCT OFFERINGS
24.13 AMRA SALT FACTORY
- 24.13.1 BUSINESS OVERVIEW
- 24.13.2 PRODUCT OFFERINGS
24.14 CIECH GROUP
- 24.14.1 BUSINESS OVERVIEW
- 24.14.2 PRODUCT OFFERINGS
24.15 AMERICAN ROCK SALT
- 24.15.1 BUSINESS OVERVIEW
- 24.15.2 PRODUCT OFFERINGS

25 REPORT SUMMARY

25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS

26 QUANTITATIVE SUMMARY

26.1 MARKET BY GEOGRAPHY
26.2 MARKET BY PROCESS
26.3 MARKET BY PRODUCT TYPE
26.4 MARKET BY END USER
26.5 APAC
- 26.5.1 PROCESS
- 26.5.2 PRODUCT TYPE
- 26.5.3 END USER
26.6 NORTH AMERICA
- 26.6.1 PROCESS
- 26.6.2 PRODUCT TYPE
- 26.6.3 END USER
26.7 EUROPE
- 26.7.1 PROCESS
- 26.7.2 PRODUCT TYPE
- 26.7.3 END USER
26.8 MIDDLE EAST & AFRICA
- 26.8.1 PROCESS
- 26.8.2 PRODUCT TYPE
- 26.8.3 END USER
26.9 LATIN AMERICA
- 26.9.1 PROCESS
- 26.9.2 PRODUCT TYPE
- 26.9.3 END USER

27 APPENDIX

27.1 ABBREVIATIONS