Industrial Salt Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2106
Industrial Salt Market size will witness significant growth owing to high acceptance in preparation of various food products over the forecast timeframe. Continuous growth in industrialization will further escalate the industrial salt market in respect with its wide range of industrial applications. In addition, easy availability of industrial salts solves the supply chain concern that serves as another factor resulting in the industry growth till 2024. Increasing demand from the chemical industry in production of soda ash and chloro-alkali chemical is promoting the industry market.
Industrial salts also find their applications in solar ponds and some energy production facilities that is anticipated to open new opportunities in the coming years. It maintains the required salinity in production of energy. It also servers the water treatment and agriculture industry in its various applications. Industrial salt is widely used by oil and gas industry and is majorly used by chemical industry.
Salt used by the pharmaceutical industry accounts for a sizable percentage of the industrial salt usage. Paper and pulp industry makes use of industrial salt in processing of waste paper for washing, bleaching neutralization and pulping. Textile industry makes use of it as an deacidification agent in the production of spun rayon and is also used in leather tanning and dyeing.
Based on the application, industrial salt market is segmented into pharmaceutical, chemical processing, oil and gas, agriculture, de-icing, water treatment and others. Chemical processing is anticipated to grow rapidly over the next eight years. Chemical industry uses these industrial salts for its process completion of numerous products like soda ash, caustic soda and chlorine. A large amount of salt is used in manufacturing of soaps as it separates many components which is required for its making. It makes the chemicals to dissolve in water more rapidly hence serving as a filler for solvents and detergents.
In addition, it is used in the production of plastic called polyvinyl-chloride(PVC) which serves as an additive in making of other derivative salts such as calcium hypochlorite, sodium chlorate, chlorine dioxide, sodium perchlorate, sodium hypochlorite and sodium fluorosilicate, further inducing immense potential to the industry over the coming years. Deicing is anticipated to grow the market in the coming years owing to its usage as anti-icing agent that helps to delay the reformation of ice on the surface for certain period.
Based on production, the industry is segmented into, solar salt, harvested from the inland wetlands or sea, Boreholes reaching out to deep layers of salt (vacuum salt),Salt can be mined underground through traditional shaft mining (rock salt). Rock salt is forecasted to have largest market share over the coming years owing to the presence of numerous salt mines worldwide.
Asia Pacific is expected to dominate the industrial salts market over the next eight years owing to increasing industrialization that has resulted in increased demand for industrial salt in developing countries including India and China. High usage and consumption of Chloralkali and demand for water treatment industries further serves as a factor that contributes for industry growth in the region.
Europe and North America are projected to account for a significant share in industrial salt market over the forecast timeframe. High production of industrial salt in Europe coupled with the presence of numerous established and local players will support the industry growth in the region.
Cargill, China National Salt Industry Corporation, ICL Fertilizers, Dow Chemicals, Akzo Nobel, Compass Minerals, K+S Chemical Company, Tata Chemicals are the among the major players in the industry .Other participants involved in manufacturing are Artyomsol, Maldon Crystal Salt, INEOS Chemicals, Rio Tinto, Mitsui & Co. Ltd, Agrosal, Henrique Lage Salineira, Dominion Salt, Shandong Dadi Salt Chemical, Morton Salt, Kopalnia Soli Klodawa Spolka Akcyjna, Dampier Salt, SunSalt, Russolo, Mitsui, Irish Salt Mining Exploration, Infosa, Salinas, Saltcor, ITALKALI, Atisale, Lluka Resources mining, Bhavnagar Salt & Industrial Works, K?odawa Salt Mine, Exportadora De Sal SA de CV, Hubei Shuanghuan Science Technology, Cheetham Salt, and Dev Salt.
To adhere with Environmental laws which is getting tougher and pollution control boards taking a firm stand, all production units have transformed from mercury technology to membrane technology. Grasim, Tata Chemicals, Nirma, and GHCL are adopting modern technology to improve and enhance quality. This technology would also reduce manufacturing cost and the gap between international and domestic prices.
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