USD 29.33 billion
Global Sodium Chloride Market Size, Share, Growth Analysis, By Source(Rock Salt, Seawater), By Grade(Chemical Grade, Food Grade), By Application(Chemical Production, Deicing) - Industry Forecast 2024-2031
Report ID:
SQMIG15B2098 |
Region:
Global |
Published Date: February, 2024
Pages:
265
|
Tables:
94 |
Figures:
76
Global Sodium Chloride Market Insights
Global Sodium Chloride Market size was valued at USD 29.33 billion in 2019 and is poised to grow from USD 30 billion in 2023 to USD 36.82 billion by 2031, growing at a CAGR of 2.3% in the forecast period (2024-2031).
The chemical formula for sodium chloride, also known as salt, is NaCl. It is a white, crystalline, ionic substance produced from sodium and chloride. It is what gives seawater its saline flavor and is mostly derived from seawater. In the food and industrial sectors, it is a crucial condiment and preservative. Due to its affordability and ease of availability, sodium chloride is utilized in large amounts as a feedstock to create sodium and chlorine compounds.
Rising demand for sodium chloride, as well as increased penetration in a variety of application industries such as chemical processing, water treatment, and agriculture, are likely to fuel market expansion over the forecast period. The chemical industry's chlor-alkali sector is a significant user of sodium chloride for the production of caustic soda and chlorine. Due to sodium chloride’s ability to lower the freezing point of water, there is also a strong demand from many cold places to prevent the formation of ice on roads and pavements, which would favorably affect market growth.
US Sodium Chloride Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Seawater
Fastest Growth
Seawater
Growth Rate
2.3% CAGR
Global Sodium Chloride Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Sodium Chloride Market Size By Source 2022-2028 ($ Bn)
Global Sodium Chloride Market Size By Source 2022-2028 (%)
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Global Sodium Chloride Market Segmental Analysis
The Global Sodium Chloride Market is segmented based on source, grade, application, and region. Based on Source, it is categorized into Rock Salt, Seawater, Solar Salt, and Vacuum Salt. Based on Grade, it is categorized into Chemical Grade, Food Grade, and Deicing. Based on Application, it is categorized into Chemical Production, Deicing, Water Conditioning, Agriculture, Food Processing, and Pharmaceuticals. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Sodium Chloride Market Analysis by Source
On the basis of source, the seawater segment is expected to dominate the global sodium chloride market over the forecast period. Due to the fact that it is made organically and is therefore supposedly healthier, seawater dominates the global sodium chloride industry. Sea salt is more flavorful and complex than rock salt because it contains minerals from the sea. On the other hand, rock salt has long been used in Ayurvedic medicine to treat stomach disorders, coughs, and common colds as well as to promote skin health.
Sodium Chloride Market Analysis by Application
On the basis of application, the chemical production segment is expected to dominate the global sodium chloride market over the forecast period. The chemical industry is a key driver of the sodium chloride market, accounting for over 25% of the overall market throughout the forecast period. For the synthesis of sodium hydroxide, soda ash, and chlor-alkali, among other chemicals, sodium chloride is a necessary raw ingredient. For the creation of rubber, paper and pulp, and chlorine gas, sodium chloride is widely employed. Sodium hydroxide and chlorine gas, which are used to make textiles, plastics, chemicals, and agrochemicals, are also produced from it and are a preferred source.
Global Sodium Chloride Market By Source, 2021 (%), 2023 (%)
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Global Sodium Chloride Market Regional Insights
Based on the region, the Asia Pacific region currently dominates the global sodium chloride market. Increased urbanization and rising disposable income in these countries are primarily responsible for this. It might also be connected to the expanding chemical markets and industries, which are attributed to the large chemical industrial base's high sodium chloride demand for chemical production. The fast developing food industry is projected to facilitate the market's growth.
The second-largest proportion of the global sodium chloride market is held by the North American region. With the assistance of regional nations like the United States, Canada, and Mexico, North America is probably going to see the fastest market growth due to the rising need for de-icing applications.
The European region is projected to experience significant growth over the forecast period. Europe is likely to experience significant development as a result of rising industrialization and the corresponding rise in demand for feedstock chemicals; nations like the United Kingdom, Germany, France, Russia, and Italy are contributing to this development by expanding their sodium chloride markets.
Global Sodium Chloride Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Sodium Chloride Market Dynamics
Sodium Chloride Market Drivers
- The low cost-effectiveness of sodium chloride in the market has led to an increase in the usage as well as demand for it. Due to the recent rise in the requirement for sodium chloride in the chemical sector brought on by the pandemic's expansion, there is now a significant market for the substance, which has led to the increased demand. because it serves as a reagent for substances like caustic soda, chlorine, and soda ash. After the pandemic, sodium chloride use surged as well, and it is anticipated that it will continue to dominate the market going forward.
Sodium Chloride Market Restraints
- The hazardous nature of sodium chloride and accessibility of safer, more environmentally friendly options are the main limiting factors for the global sodium chloride market. Nearly the majority of the chloride ions from the road salt end up in streams downstream. Chloride is generally harmless at low quantities, but as concentrations increase, it can be hazardous to aquatic life, particularly plankton and fish that live in inland lakes.
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Global Sodium Chloride Market Competitive Landscape
The sodium chloride market is a fairly competitive area that is dominated by multinational companies that provide raw materials at competitive prices. The market is relatively fragmented; roughly 70% of it is made up of tier 2 and tier 3 players. Strong B2B networks and a sizable supplier base define it. Strong alliances exist across the whole value chain in the market. Strong research and development efforts are given plenty of attention. To meet the needs of a growing consumer base, businesses seek to strategically collaborate with end users and local distributors. To gain a firmer footing, sodium chloride suppliers look for acquisition and regional expansion plans. However, brand loyalty and aggressive marketing make it difficult for new competitors to succeed in this market. Additionally, the emergence of internet commerce is anticipated to offer industry participants promising growth opportunities.
Sodium Chloride Market Top Players Company Profiles
- K+S AG
- Cargill, Inc.
- Compass Minerals International, Inc.
- AkzoNobel N.V.
- INEOS AG
- Wacker Chemie AG
- Tata Chemicals Limited
- China National Salt Industry Corporation
- Südwestdeutsche Salzwerke AG
- Salt Union Limited (a part of Tata Chemicals Europe Limited)
- Atisale S.p.A.
- Salinen Austria AG
- Dominion Salt Limited
- Swiss Saltworks AG
- Sichuan Guangyu Salt Industry Co., Ltd.
- Artyomsol State Enterprise
- Solana GmbH & Co. KG
- Cerebos Limited
- Salzwerke Halle GmbH
- La Baleine SA
Sodium Chloride Market Recent Developments
- In January 2022, FDA approval was given to B. Braun for a pharmaceutical manufacturing facility in Florida. It states that 0.9 percent sodium chloride for injection will be produced at B. Braun Medical's Daytona Beach, Florida, facility and distributed in Bethlehem, Pennsylvania, in 1,000 ml and 500 ml Excel Plus IV bags.
- In August 2021, A new alkali metal-chloride battery claims to have a 6x increase in energy density. American scientists have created a promising new battery chemistry based on table salt and chlorine. With further development, the prototype battery might already be suitable for small devices like hearing aids and be expanded for use in bigger applications.
Global Sodium Chloride Key Market Trends
- INcreasing influence of the emerging application on the demand for sodium chloride: In terms of volume, the pharmaceutical industry makes up less than 5% of the total market. With relatively better profit margins, it is one of the markets for sodium chloride that is expanding the quickest. Since oral drug delivery has shown better outcomes than other methods of drug delivery in recent years, the use of sodium chloride as a flavoring agent has become crucial. For regulated and sustained release dose, matrix tablets are crucial, and pharmaceutical grade sodium chloride is increasingly employed to create such products.
Global Sodium Chloride Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global sodium chloride market is currently led by countries in the Asia Pacific region, due to the increased urbanization and rising disposable income in this region. Along with this, the chemical production segment is projected to lead the market due to the various advantages and applications of sodium chloride in the sector, over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 29.33 billion |
| Market size value in 2031 | USD 36.82 billion |
| Growth Rate | 2.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Sodium Chloride Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Sodium Chloride Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Sodium Chloride Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sodium Chloride Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sodium Chloride Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Sodium Chloride Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Sodium Chloride Market Report Snapshots
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