The sodium chloride market is projected to showcase a moderate growth rate of 4.2% CAGR over the forecast period of 2021 – 2031 as per the analysis by Future Market Insights (FMI). The market will be driven by rising demand from various industries including chemicals, food and beverages, oil and gas, industrial, deicing, and water-treatment.
Globally, the chemical industry facilities have been the leading consumers of sodium chloride in recent years. In North America and Europe, de-icing and food & beverage industries have emerged as key end users of sodium chloride.
While the market will grow at a steady rate over the next decade, the novel coronavirus (COVID-19) outbreak has left a detrimental effect. The pandemic is expected to affect consumer spending across various sectors such as food and FMCG.
Download a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-11612
Furthermore, industrial salt is economically viable as compared to natural salt, which is further catalyzing the growth of the industrial salt sector. Chlorine is used as a primary source for chlorine and sodium hydroxide production, as it is extensively available and inexpensive.
Growth in the commodity chemicals market is expected to drive the consumption of solid sodium chloride, which in turn is expected to fuel the demand in the coming years. As such, the annual growth rate of the sodium chloride market is slated to decline during 2020-21, but is poised for sharp recovery over the next financial year.
“Sodium chloride production is anticipated to contract during the COVID-19 pandemic. However increasing production in parts of Europe and APAC is expected to stabilize supply shortages. Moreover, positive growth trends in multiple end-use industries are expected to drive the growth of the market over the coming decade,” says an analyst of Future Market Insights.
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-11612
The global sodium chloride market has been identified as a significantly fragmented market, with the large international players accounting for a limited share of the overall industry.
Market leaders are focusing on strengthening their product portfolio and expanding their market footprint through the acquisition of small-scale enterprises in the landscape.
Key manufacturers in the sodium chloride market include but are not limited to Cargill Incorporated, Compass Minerals International, K+S AKTIENGESELLSCHAFT, Wacker Chemie AG, Akzo Nobel N.V., Tata Chemicals Limited, Südwestdeutsche Salzwerke AG, INEOS GROUP HOLDINGS S.A., Dampier Salt Limited, Hindustan Ltd, Aashirwadh, Annapurna, Saboo Sodium Chloro Ltd, Hindustan Salts Ltd, Nirma Ltd., Merck KGah, GHCL Ltd., VM Chemicals, and Anish Chemicals.
Future Market Insights, a research and consulting firm has published a market research report on the Sodium Chloride market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in-depth analysis of the market through different segments, namely, type, end use, and region. The report also provides supply and demand trends, along with an overview of the parent market.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-11612
Hydro fluorocarbon market: The global hydro fluorocarbon market report by FMI gives an in-depth insight on the future expansion prospects, trends and challenges that market is likely to face in the upcoming decade. Key statistics regarding key segments have been presented across prominent geographies, along with a detailed assessment of the market’s competitive landscape.
Hydrotalcite market: The hydrotalcite market study published by FMI offers a comprehensive analysis and focused views on major trends expected to provide shape to future growth prospects. The report provides detailed analysis of the significant drivers, trends, challenges and opportunities prevailing for the forthcoming decade across key geographies along with competitive landscape of the upcoming decade.
Hydroxyapatite market: Future Market Insights gives a detailed segmentation on the global hydroxyapatite market with upcoming market trends, challenges and future growth dynamics across key geographies and prominent segments. The report provides a holistic approach, mapping the competitive landscape with detailed analysis on established players, new entrants, and opportunities likely to prevail across the 2021-2031 decade.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.