0
2021
Industrial Salts Market

Industrial Salts Market

by Source (Rock Salt and Natural Brine), Manufacturing Process (Conventional Mining, Vacuum Evaporation and Solar Evaporation), and Application (Chemical processing, De-Icing, Water treatment, Oil & gas, Agriculture, and Food processing): Global Opportunity Analysis and Industry Forecast, 2021-2030
Update Available On-Demand

Report Code: A14208
Pages: 255
Oct 2021 | 2183 Views
Author(s) : Prakhar J , Eswara P
Tables: 214
Charts: 73
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COVID-19

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Industrial Salts Market Statistics - 2030

The global industrial salts market size was valued at $14.2 billion in 2020, and industrial salts market forecast projected to reach $19.4 billion by 2030, with global industrial salts market forecast expected at a CAGR of 3.2% from 2021 to 2030.

Emergence of COVID-19 had a negative impact on growth of the global industrial salts market. Industrial salt demand took a big hit during the outbreak of pandemic as lockdown was imposed all over the world. It is recorded more than 40% drop in the exports of salt during this pandemic period due to shut down in industrial and economic activity over the past one year. The closure of eateries and caustic and soda ash companies led to decline in demand by 20%.

Industrial salts are defined as sodium chloride manufactured industrially through extraction from rock salt or sea water. It finds usage in applications such as chemical processing, water treatment, de-icing, agriculture, and oil & gas. Industrial salts are used as raw materials for production of different chemicals. Industrial salts in the chemical industry are largely used for manufacturing of caustic soda, chlorine, and soda ash. Electrolysis of industrial grade salt by 0chlor-alkali industry manufactures caustics soda and chlorine. Caustic soda or sodium hydroxide is a versatile alkali. It is mainly used to manufacture pulp and paper, alumina, soap and detergents, petroleum products and chemical products. More than half of the world’s soda ash production is used in glass manufacturing, but it is also used in wide range of other products such as powdered detergents, soaps, and rechargeable batteries. It is also used extensively in metallurgical processes, and across the food, cosmetic and pharmaceutical industries. The above-mentioned applications and demand are the major factors that propels growth of the industrial salts market.

Industrial-Salts-Market-2021-2030

Ban on mercury-based technology for caustic soda manufacturing in European Union led to transition of European chlor-alkali industry as several manufacturing facilities are being converted or shutdown, owing to the transition. Industrial salt shall be packed in a suitable container that prevents it from deterioration of its quality during storage, transportation, and handling. Excessive consumption of salt increases the risk of cardiovascular diseases, such as hypertension in children and adults. The usage of industrial salts for de-icing has resulted in changing the electrolytic balance in plants and trees hence leading to environmental pollution. The above-mentioned factors hamper growth of industrial salts market.

Industrial salts are widely used as agents for de-icing of roads, platforms, and walkways. Industrial salts have the ability to lower the freezing point, thereby melting the ice. It accounts for the second largest share of the overall industrial salts market. The salt used in de-icing is the lowest grade with higher level of impurities compared to grades used for other applications. The presence of cold regions all over the world has led to the application of industrial salts as an economic option for de-icing. The above-mentioned applications are expected to provide ample opportunities for growth of the industrial salts market.

The global industrial salts market is segmented on the basis of source, manufacturing process, application, and region. 

On the basis of source, the global industrial salts market is segmented into rock salt and natural brine. On the basis of manufacturing process, it is divided into conventional mining, vacuum evaporation, and solar evaporation. By application, it is divided into chemical processing, de-icing, water treatment, oil & gas, agriculture, and food processing. 

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia Pacific accounts for the largest share of the market, followed by North America and Europe. 

The major companies profiled in this report include Cargill, Inc., Compass Minerals America Inc., China National Salt Industry Co., Dominion Salt Ltd., INEOS, K+SAG, Mitsui 7 Co. Ltd., Nouryon, Rio Tinto Group, and Tata Chemical Ltd. Rapid increase in demand for oil & gas resources led key manufacturers expand their industrial salt manufacturing capacities in order to meet market demand across the globe. Additional growth strategies such as acquisition, partnership, product launch and business expansion strategies are also adopted to attain key developments in the industrial salts market. 

Global Industrial Salts Market, By Region

Asia-Pacific dominates the industrial salts market. Increase in urbanization and industrialization in countries present in this region is one of the major reasons that propels growth of the market. Rise in awareness among people regarding health care and cleanliness in dwelling places has led to increase in demand for laundry and dis-infection products. Presence of huge population led to increase in demand for food products, hence agrochemicals such as pesticides and herbicides are used to increase production of crops. Increase in investments from governments and presence of access among the public lead to investments in the construction sector have increased the demand for PVCs. The industrial salts are used as raw materials for production of PVCs. China is the world’s largest salt producer, accounting for nearly 22.48% and is growing at a rapid rate. In 2020 China’s total production of salt accounted to more than 67.01 million metric tons. India secured third place while accounting 8.8% of total global salt production capacity. In India, Gujarat accounts for 76% of the total salt required by the country. Presence of developing countries in this region and increase in investments for development of chemical industries has increased demand for industrial salts. Presence of demand for daily usage products and need for salt in food industries in this region provide ample opportunities for growth of the market. 

Industrial Salts Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific holds a dominant position in 2020

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Global Industrial Salts Market, By Source 

The natural brine segment dominates the industrial salts market, owing to the rapid industrialization and urbanization across the globe. The presence of industrial salt applications in the production of PVC and other inorganic chemicals is a major driving force for growth of the market. Natural brine is a liquid with very high to extremely high concentrations of dissolved constituents such as elements, ions, and molecules. Brines are commonly considered to more saline or more concentrated in dissolved materials, than sea water. Elemental chlorine can be produced by electrolysis of brine; which is also used as a secondary fluid in large refrigeration installations for transportation of thermal energy. It is an auxiliary agent in water softening and water purification systems involving ion exchange technology. Rise in investments in development of water treatment plants in countries such as India that are under construction lead to increase in demand for the industrial salts market. Increase in awareness among people regarding health care has led to increase in demand for detergents and other laundry chemicals and the U.S. laundry market was valued at $13.1 billion in 2020, with a growth rate of 2% compared to past year. Increase in population has led to rise in need for pesticides and herbicides, which have increased demand for industrial salts. Increase in the demand for industrial salts in variety of industries is also expected to provide lucrative opportunities for growth of the industrial salts market.

Industrial Salts Market
By Source

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Natural brine segment is projected to create abundant $ opportunity till 2030

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Global Industrial Salts Market, By Manufacturing Process

The conventional mining segment dominates the industrial salts market, owing to presence of huge salt mine resources across the globe. Conventional mining is also known as salt mining, which extracts natural salt deposits from underground. The mined salt is usually in the form of halite and is extracted by evaporation. Most modern salt mines are privately operated or operated by large multinational companies such as K+S. AkzoNobel, Cargil, and Compass Minerals. There are two types of salt mining deep-shaft mining and solution mining. Increase in demand for cost-effective and cheap resources in chemical production is also a major driving factor for growth of the market. Increase in population and innovations toward development of new pesticides and herbicides propel demand for industrial salts. Increase in investments and operations of water recycling plants across the globe have positive demand for industrial salts. Increase in demand for industrial salts in a variety of industries provide lucrative opportunities for growth of the industrial salts market.  

Industrial Salts Market
By Manufacturing Process

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Conventional Mining segment is projected to create abundant $ opportunity till 2030

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Global Industrial Salts Market, By Application

The chemical processing segment dominates the industrial salts market, owing to increase in application of caustic soda and soda ash in production of variety of house hold products also propels growth of the market. Increase in demand for petroleum products in the modern society, owing to a large market share of fuel-based automobiles also propels growth of industrial salts. Importance of glass in modern infrastructure and in electronic display technology is also key factor responsible for growth of the market. Increase in awareness among people regarding health and personal care has driven demand for pharmaceutical and cosmetic products. Growth of these industries further propels demand for industrial salts. Increase in demand for industrial salts in a variety of industries also provide lucrative opportunities for growth of the industrial salts market.

Industrial Salts Market
By Application

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Chemical Processing segment is projected as the most lucrative segment.

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COVID-19 analysis:

  • Emergence of COVID-19 had a negative impact on growth of the global industrial salts market.
  • This impact is mostly attributed to significant disruptions in raw material transportation, presence of low-labor, and shutdown of many manufacturing industries.
  • Decrease in demand for many non-essential products and shut down of electrical, automotive, and other energy related industries has created a negative impact on development of the industrial salts market.

Key benefits for stakeholders

  • This report provides a detailed quantitative analysis of the current industrial salts market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities. 
  • An in-depth industrial salts market analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of the factors that drive and restrain the growth of the Industrial salts market is provided.
  • Region-wise and country-wise market conditions are comprehensively analyzed in this report.
  • The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value and volume.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global industrial salts market.

Industrial Salts Market Report Highlights

Aspects Details
By Source
  • Rock Salt
  • Natural Brine
By Manufacturing Process
  • Conventional Mining
  • Vacuum Evaporation
  • Solar Evaporation
By Application
  • Chemical processing
  • De-icing
  • Water Treatment
  • Oil & Gas
  • Agriculture
  • Food Processing
By Region
  • North America  (U.S, Canada, Mexico)
  • Europe  (Germany, France, Italy, Spain, UK, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players Cargill, Inc., Compass Minerals America Inc., China National Salt Industry Co., Dominion Salt Ltd, INEOS, K+S AG, Mitsui & Co. Ltd., Nouryon, Rio Tinto Group, Tata Chemicals Ltd.
 

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The global industrial salt market is expected to witness increased demand during the forecast period, owing to rapid increase in demand for industrial salts in the chemical processing sector across the globe.

Presence of large salt reserves across the globe and increase in demand for industrial salts to produce various products propel the market growth. China secured first position as a salt producing country and it supplies around 22.48% of the global salt demand. Industrial salts have potential short term health effects on people working with it, owing to contact with eyes and skin and inhalation or ingestion of the salts. High concentration of these salts causes stinging sensation in eyes. It causes irritation on prolonged contact and dust of industrial salts in very high concentration cause inflammation of the mucus membrane in the respiratory tracts. It also causes vomiting, diarrhea, and collapse.

Lack of cost-effective substitutes, industrial salts are actively used in the chlor-alkali process to manufacture products such as ethylene dichloride hence stimulating the demand for industrial salts. The increase in new manufacturing facilities in countries such as India and Egypt would increase the global production capacity of caustic soda. The growing number of water treatment plants across the globe is expected to increase the usage of industrial salts. The increasing application of de-icing through industrial salts is also fostering the demand for industrial salts in the cold countries. The above-mentioned factors will provide ample opportunities for the development of industrial salts market.

Moreover, companies are inheriting mergers, innovations, and business expansion strategies to boost growth of the industrial salts market throughout the forecast period. The future demand for oil & gas resources propel growth of the industrial salts as they are added to fracking fluid to reduce viscosity and their application as raw materials to manufacture various chemical compounds and hygiene products foster growth of the market.

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FREQUENTLY ASKED QUESTIONS?

A. Increase in the application areas of industrial salts and presence of large salt reserves are the key factors boosting the Industrial Salts market growth

A. Market value of Industrial Salts in 2030 will be US$ 19.3 billion

A. Cargill, Inc., Compass Minerals America Inc., China National Salt Industry Co., Dominion Salt Ltd., INEOS, K+SAG, Mitsui 7 Co. Ltd., Nouryon, Rio Tinto Group, Tata Chemical Ltd

A. Chemical industry is projected to increase the demand for Industrial Salts Market

A. The global industrial salts market is segmented on the basis of source, by manufacturing process, by application and region. On the basis of source, the global industrial salts market is segmented into rock salt and natural brine. On the basis of manufacturing process, it is introduced as conventional mining, vacuum evaporation, and solar evaporation. The Applications introduced in the study includes chemical processing, de-icing, water treatment, oil & gas, agriculture, and food processing. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

A. Lack of cost-effective substitutes is the Main Driver of Industrial Salts Market

A. Chemical processing, de-icing, water treatment, oil & gas, agriculture, and food processing are expected to drive the adoption of Industrial Salts

A. Emergence of COVID-19 had a negative impact on growth of the global industrial salts market.

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