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PUBLISHER: SkyQuest | PRODUCT CODE: 1619221

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PUBLISHER: SkyQuest | PRODUCT CODE: 1619221

Industrial Salt Market Size, Share, Growth Analysis, By Source (Natural Brine, Rock Salt), By Production Process (Conventional Mining, Solar Evaporation), By Application, By Region - Industry Forecast 2024-2031

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Global Industrial Salt Market size was valued at USD 14.15 billion in 2022 and is poised to grow from USD 14.61 billion in 2023 to USD 18.79 billion by 2031, growing at a CAGR of 3.2% during the forecast period (2024-2031).

The industrial salts market is poised for growth driven by their critical role in the production of caustic soda, chlorine, and soda ash, primarily through electrolysis in the chlor-alkali industry. These products find extensive applications in diverse sectors, including pulp and paper, alumina, and soap and detergents, with over half of the global soda ash output utilized in glass manufacturing. Additionally, the growth is bolstered by demand from metallurgical processes and industries such as food, cosmetics, and pharmaceuticals. The economic use of industrial salts for de-icing, particularly in colder regions, further expands market potential, as they effectively lower freezing points for ice melting. Overall, these factors indicate substantial opportunities for advancement in the industrial salts market.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Industrial Salt market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Industrial Salt Market Segmental Analysis

Global Industrial Salt Market is segmented by Source, Production Process, Application, and Region. Based on source, the market is segmented into Natural Brine, and Rock Salt. Based on Production Process, the market is segmented into Conventional Mining, Solar Evaporation, and Vacuum Pan Evaporation. Based on application, the market is segmented into Chemical Processing (Caustic Soda Manufacturing, and Soda Ash), Manufacturing, De-Icing, Water Treatment, Oil & Gas, Agriculture and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Industrial Salt Market

One of the primary factors propelling the global industrial salt market is the surge in industrialization across multiple sectors, particularly in chemical manufacturing, water treatment, and the oil and gas industry. As these industries expand, the demand for industrial salts rises significantly, driven by their essential applications in processes such as chemical synthesis, water softening, and the formulation of drilling fluids. This growing need for industrial salts is a direct consequence of heightened production activities and the increasing emphasis on efficient resource utilization, ultimately leading to a robust growth trajectory for the industrial salt market worldwide.

Restraints in the Global Industrial Salt Market

The global industrial salt market faces considerable challenges due to environmental concerns related to salt disposal and its ecological impact. One major restraint is the excessive application of salt, particularly in road de-icing, which can result in contamination of soil and water sources. This environmental degradation raises alarms among regulatory bodies and environmentalists, creating pressure on industries to adopt more sustainable practices. As awareness grows regarding the adverse effects of salt on ecosystems, companies may face stricter regulations and a shift in consumer preferences toward environmentally friendly alternatives. This scenario could hinder the growth potential of the industrial salt market.

Market Trends of the Global Industrial Salt Market

The Global Industrial Salt market is experiencing a significant upward trend, driven primarily by its indispensable role in chemical manufacturing, particularly in the production of ethylene dichloride. As the primary cost-effective option for various industrial applications, demand for industrial salts is projected to soar, supported by a versatile range of uses across multiple sectors. Notably, approximately 50% of the industrial salts produced are dedicated to chemical processes, highlighting their critical importance in the supply chain. This growing demand, coupled with continuous innovations in industrial applications and increasing investment in chemical manufacturing, is set to create substantial growth opportunities for the market in the coming years.

Product Code: SQMIG30C2126

Table of Contents

Introduction

  • Objectives of the Study
  • Scope of the Report
  • Definitions

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Methods
  • Market Size Estimation
  • Market Assumptions & Limitations

Executive Summary

  • Global Market Outlook
  • Supply & Demand Trend Analysis
  • Segmental Opportunity Analysis

Market Dynamics & Outlook

  • Market Overview
  • Market Size
  • Market Dynamics
    • Driver & Opportunities
    • Restraints & Challenges
  • Porters Analysis & Impact
    • Competitive rivalry
    • Threat of substitute
    • Bargaining power of buyers
    • Threat of new entrants
    • Bargaining power of suppliers

Key Market Insights

  • Key Success Factors
  • Degree of Competition
  • Top Investment Pockets
  • Market Ecosystem
  • Regulatory Landscape
  • PESTEL Analysis
  • Macro-Economic Indicators
  • Trade Analysis
  • Startup Analysis
  • Market Attractiveness Index
  • Supply Chain Analysis
  • Pricing Analysis

Global Industrial Salt Market Size by Source & CAGR (2024-2031)

  • Market Overview
  • Natural Brine
  • Rock Salt

Global Industrial Salt Market Size by Production Process & CAGR (2024-2031)

  • Market Overview
  • Conventional Mining
  • Solar Evaporation
  • Vacuum Pan Evaporation

Global Industrial Salt Market Size by Application & CAGR (2024-2031)

  • Market Overview
  • Chemical Processing
    • Caustic Soda Manufacturing
    • Soda Ash Manufacturing
  • De-Icing
  • Water Treatment
  • Oil & Gas
  • Agriculture
  • Others

Global Industrial Salt Market Size & CAGR (2024-2031)

  • North America (Source, Production Process, Application)
    • US
    • Canada
  • Europe (Source, Production Process, Application)
    • UK
    • Germany
    • Spain
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific (Source, Production Process, Application)
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America (Source, Production Process, Application)
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (Source, Production Process, Application)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Competitive Intelligence

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2023
  • Strategies Adopted by Key Market Players
  • Recent Developments in the Market
  • Company Market Share Analysis, 2023
  • Company Profiles of All Key Players
    • Company Details
    • Product Portfolio Analysis
    • Company's Segmental Share Analysis
    • Revenue Y-O-Y Comparison (2021-2023)

Key Company Profiles

  • Akzo Nobel
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Cargill Salt
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Compass Minerals International, Inc.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • INEOS Enterprises Salt
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Solvay
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • K+S Aktiengesellschaft.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • China National Salt Industry
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Tata Chemicals
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Salins Group
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • CIECH Group
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Hunan Salt Industry Co., Ltd.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Cheetham Salt Limited
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mitsui & Co., Ltd.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Dominion Salt
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Shandong Chengyuan Group
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Dampier Salt Limited
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Arya Group
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Morton Salt
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Dead Sea Works Ltd.
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Wilson Salt Company
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments

Conclusion & Recommendation

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