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Industrial Salts Market Global Size, Industry Share, Demand, Emerging Trends, Opportunities, Future Development Plans and Growth by Forecast 2023


iCrowdNewswire   Jan 6, 2021  11:20 AM ET

Competitive Analysis

Some of the manufacturers operating in the global industrial salts market are Cargill, Incorporated (US), K+S AKTIENGESELLSCHAFT (Germany), Compass Minerals (US), Tata Chemicals Ltd. (India), MITSUI & CO., LTD. (Japan), INEOS (UK), Groupe Salins (France), Dominion Salt (New Zealand), Exportadora de Sal (Mexico), and The Bhavnagar Salt & Industrial Works (India).

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Market Segmentation

The global industrial salts market has been segmented by source, manufacturing process, application, and region.

By source, the global industrial salts market has been divided into natural brine and rock salt. The natural brine as a source is leading the market owing to the high concentration of salt present in it. Natural brines contain other substances such as magnesium chloride, magnesium sulfate, calcium sulfate, potassium chloride, magnesium bromide, and calcium carbonate dissolved along with salt. These substances may be as commercially valuable as the salt itself. The benefit of extracting salt from natural brine is that the manufacturer can also engage in the trading of these impurities and gain profits. Other advantage of using brine as a source is that they can be artificially produced by dissolving mined rock salt or by pumping water into wells drilled into rock salt. On the other hand, rock salt is crystallized salt and may be pure or may contain various amounts of these substances along with rocky impurities such as shale and quartz.

Based on manufacturing process, the market has been segmented into conventional mining, solar evaporation, and vacuum pan evaporation. Among these, the vacuum pan evaporation dominated the global market in 2017. This process involves evaporation of salt brine by steam heat in large commercial evaporators, called vacuum pans. This method yields a very high purity salt, fine in texture, and principally used in those applications requiring the highest quality salt.

On the basis of the application, the market has been segmented into chemical processing, de-icing, water softening, drilling fluids, dye enhancer, filler, saline solutions, and others. Among these applications, the chemical processing accounted for the largest market share in 2017 owing to the use of industrial salt as major raw material for production of liquid sodium, metallic sodium, chlorine, caustic soda, sodium sulfate, sodium carbonate, hydrochloric acid, sodium bicarbonate, and sodium nitrate.

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Regional Analysis

Regionally, the global market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The market in Asia-Pacific dominated the global industrial salts market in 2017 due to the high demand from chemical, textile, oil & gas, and pharmaceuticals industries, where industrial salt is used as chemical intermediate, dye enhancer, in drilling fluid, and in saline solutions. The rapid industrialization and urbanization in the region are the primary factor affecting the growth of the industrial salts market.

The demand from the de-icing and chemical processing applications in the North America and Europe is the driving factor of the regional market.

Latin America is expected to showcase significant growth owing to the presence of large number of natural deposits and high production capacities coupled with high exports.



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