Industrial salt is a finely processed, white crystalline granules from natural sources. It is suitable for various applications, including detergents, textile dyeing, resin products, and other chemical processes.
Sizing and Forecast
The industrial salts market size has grown steadily in recent years. It will grow from $14.8 billion in 2023 to $15.53 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to chemical industry growth, water treatment applications, snow and ice control, food processing, metal processing.
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Segmentation & Regional Insights
The industrial salts market covered in this report is segmented –
1) By Source: Rock Salt, Natural Brine
2) By Manufacturing Process: Conventional Mining, Solar Evaporation, Vacuum Evaporation
3) By Application: Agriculture, Chemical Processing, Food Processing, Water Treatment, De-icing, Oil and Gas
Asia-Pacific was the largest region in the industrial salts market share in 2023. The regions covered in the industrial salts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing number of water treatment projects is expected to propel the industrial salt market. Water treatment is the process of purifying water for utilization or restoring it to its natural form. Industrial salts are used in water treatment to remove impurities and undesired components, as well as to lower the waste concentration in water supplies used for both household and industrial applications or discharge it back into the environment. Additionally, various government initiatives are implemented to improve water quality, which favors the demand for water treatment projects. For instance, in March 2021, the U.S. Department of Energy (DOE), a US-based federal government that oversees U.S. national energy policy and manages the research and development on power, announced the investment of $27.5 million for 16 water infrastructure projects with modern technologies to reduce energy use in aging water infrastructure, especially in wastewater treatment that demands up to 2% of domestic electricity use each year. Therefore, the growing number of water treatment projects is expected to drive the growth of the industrial salts market.
Key Industry Players
Major companies operating in the industrial salts market report are Cargill Incorporated, Mitsui & Co.Ltd., Nouryon Chemicals Holding B.V, Rio Tinto Group, Compass Minerals International Inc., INEOS Group AG, K+S AG, Wacker Chemie AG, Akzo Nobel N.V., Occidental Petroleum Corporation, Solvay S.A., Dominion Salt Ltd., ICL Group Ltd., Salt Union Ltd., Swiss Saltworks AG, Atisale SpA, Salins Group, Kopalnia Soli Wieliczka SA, Dampier Salt Ltd., Morton Salt Inc., Qinghai Salt Lake Industry Co. Ltd., Henan Huayang Salt Chemical Co. Ltd., Shandong Haihua Group Co. Ltd., Ciech S.A., Tata Chemicals North America Inc., China National Salt Industry Corporation, Tata Chemicals Limited, Salinas Salt Company, San Francisco Salt Company, SaltWorks Inc.
The industrial salts market report table of contents includes:
1. Executive Summary
2. Industrial Salts Market Characteristics
3. Industrial Salts Market Trends And Strategies
4. Industrial Salts Market – Macro Economic Scenario
5. Global Industrial Salts Market Size and Growth
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31. Global Industrial Salts Market Competitive Benchmarking
32. Global Industrial Salts Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Salts Market
34. Industrial Salts Market Future Outlook and Potential Analysis
35. Appendix
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