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 white crystalline compounds that are usually manufactured by using seawater and rock salt deposits. It is conventionally produced by vacuum evaporation, mining, and solar evaporation processes. Industrial salts find wide-ranging applications in de-icing, chemical processing, water treatment, and farming. They are extensively utilized in cleaning oil and gas wells to create an efficient and safe drilling rig and enhance soil and mud density. Industrial salts are also employed in the manufacturing of tires, case-hardened steel and brass, glass, polyester, leather, etc., across the globe.
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Market Trends:
The widespread adoption of chlorine as a disinfection and hygiene product across residential, commercial, and industrial spaces is primarily driving the industrial salts market. Additionally, the inflating need for removing impurities from metals and secondary aluminum and the growing levels of industrialization are further bolstering the market growth. Besides this, the development of roads, walkways, platforms, etc., is propelling the usage of industrial salts as agents for the de-icing process, which is acting as another significant growth-inducing factor. Moreover, the escalating demand for industrial salts in the manufacturing of a wide array of chemicals, including caustic soda, sodium sulfate, soda ash, hydrochloric acid, liquid sodium, etc., is positively influencing the global market. Apart from this, they are utilized as fillers in detergents and solvents, owing to their easy availability in large quantities, lack of a suitable economic substitute, cost-effectiveness, etc., which is also stimulating market growth. Furthermore, the increasing number of water treatment projects is anticipated to fuel the industrial salts market over the forecasted period.
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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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