According to IMARC Group latest report titled “Industrial Salts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on industrial salts market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global industrial salts market size reached US$ 15.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.5 Billion by 2028, exhibiting a growth rate (CAGR) of 2.85% during 2023-2028.
Industrial salts are fundamental materials predominantly composed of sodium chloride, and they are utilized across various sectors for their chemical and physical properties. Industrial salts serve as raw materials in chemical processing, notably in the manufacture of caustic soda and chlorine. Their granular or crystalline form, solubility in water, and ionic nature make them ideal for applications ranging from water treatment to de-icing. In production, they are extracted through mining or the evaporation of seawater and are known for their purity levels, which are essential for industrial use.
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Market Trends:
The global market is primarily propelled by the escalating demand in water treatment applications, necessitated by growing global water scarcity. Additionally, the agricultural sector is continually requiring more industrial salts for soil conditioning and as a feed additive, supporting the market's upward trend. The steady growth in the food industry, where salt is crucial for flavoring and preservation, is also contributing to market expansion. Meanwhile, the pharmaceutical sector is bolstering demand, utilizing salt in various medicinal formulations. The need for large quantities of industrial salt in oil and gas drilling operations, where it is used to increase the density of drilling fluids, is further driving market growth. The expansion of the textile and dyeing sectors, which utilize salt in large amounts for the processing of textiles and dye baths, is also a market driver. Additionally, continual advancements in the industrial sector, demanding high-grade salt for metal processing and leather tanning, continue to catalyze market growth.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Akzo Nobel N.V
- Cargill Inc.
- Compass Minerals International Inc
- Dominion Salt Limited
- Donald Brown Group
- INEOS Group Ltd
- K+S AG
- Mitsui & Co. Ltd.
- Nouryon Chemicals B.V.
- Rio Tinto PLC
- Tata Chemicals Limited
Industrial Salts Market Segmentation:
Our report has categorized the market based on region, source, product, application and end use industry.
Breakup by Source:
- Brine
- Salt Mines
Breakup by Product:
- Rock Salt
- Salt in Brine
- Solar Salt
- Vacuum Pan Salt
Breakup by Application:
- Chemical Processing
- Caustic Soda
- Soda Ash
- Chlorine
- De-Icing
- Oil and Gas
- Water Treatment
- Agriculture
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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