0

Industrial Salts Market Size Expected to Reach $19.4 Billion by 2030

 
2022
Industrial Salts Market

Report Code : A14208

quote Rapidly growing importance of chemical processing industries led to surge in demand for industrial salts as these salts are important for production of many chlorine-based chemical compounds. Increase in demand for oil & gas has a positive impact on the industrial salts market. Embracing the future demands from the chemical processing industries and presence of huge salt resources led to business expansion of many companies to develop more efficient solar evaporation method to extract salts from brine solution. Depletion of freshwater resources and increase in investments toward water treatment plants across the globe are also expected to create potential opportunities for the industrial salt market during the forecast period. quote

Eswara Prasad
Manager, Chemicals and Materials at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, "industrial salts market by source, by manufacturing process and by application: global opportunity analysis and industry forecast, 2020–2030," the global industrial salts market size was valued $14.2 billion in 2020 to $19.4 billion by 2030, at a CAGR of 3.2% from 2020 to 2030.

Industrial salts are mainly used in the chemical industry to produce caustic soda and other chlor-alkali products. These are also used in manufacturing of polyester, glass, paper, tires, brass bleach, as well as to set dyes in fabric. Industrial salts are available in various levels of purity, depending on their applications. Rise in demand for petroleum products, owing to large market share of fuel-based automobile is also another major factor that fuels growth of industrial salts.  In addition, outbreak of the pandemic has created awareness among people regarding healthcare, which have led to increase in demand for hygiene products such as detergents, soaps, and laundry products that make use of industrial salts and in turn, propel the market growth. Moreover, rise in investments by various governments to construct water treatment plants also drives the market growth as industrial salts are used for water purification.

Rapid increase in population and depletion of fertile land resources to produce agriculture products lead to increase in demand for fertilizers where inorganic salts are used for production, which, in turn, propels demand for industrial salts. Increase in innovation of various chemical salts for development of the agriculture sector across the globe also provide lucrative 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 trends.

Impact Of Covid-19 On The Global Industrial Salts Market

  • 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 findings of the study

  • Region wise, the Asia-Pacific is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
  • As per industrial salts market analysis, by source, the natural brine segment accounted for the largest share in 2020.
  • On the basis of manufacturing process, the conventional mining segment was the major share contributor in 2020.
  • On the basis of application, the chemical processing market segment was the major share contributor in 2020.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote 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 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"Industrial Salts Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers