Report ID: UCMIG30I2096
Report ID:
UCMIG30I2096 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The industrial salts market is predicted to reach a value of USD 15.9 billion by 2025, exhibiting a CAGR of 2.4% during the forecast period. The growth of the market can be attributed to the surging demand for industrial salts in various crucial application sectors such as water treatment, agriculture, chemical processing, oil & gas industry, and highway deicing. The primary use of industrial salts lies in the production of caustic soda, soda ash, and chlorine. The market is expected to grow significantly due to its direct applications in industries like agriculture and deicing, as well as indirect usage in chemical processing to produce chlorine and caustic soda. The chemical sector's chlor-alkali industry is a significant consumer of industrial salts as there is no economically feasible alternative to the product.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Packaged Foods & Meats by segment aggregation, the contribution of the Packaged Foods & Meats in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30I2096