Global Industrial Salt Market

Industrial Salt Market Size, Share, Growth Analysis, By Source(Rock Salt, Natural brine), By Manufacturing process(Convention mining, solar evaporation), By Application(Chemical processing, de-icing) - Industry Forecast 2024-2031

Report ID: SQMIG30C2126 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 92 | Figures: 76

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FAQs

Industrial Salt Market size was valued at USD 13.72 billion in 2021 and is poised to grow from USD 14.6 billion in 2022 to USD 19.4 billion by 2030, at a CAGR of 3.2% during the forecast period (2023-2030).

The industrial salt market is characterized by a competitive landscape with several key players operating on a scale. These players compete based on factors such as product quality, pricing, distribution networks, and technological advancements. Here are some prominent companies in the industrial salt market. 'Cargill, Inc. (U.S.)', 'K+S Group (Germany)', 'Compass Minerals (US)', 'INEOS Enterprises (UK)', 'China National Salt Industry Corporation (China)', 'Tata Chemicals (India)', 'Morton Salt (US)', 'Mitsui & Co. Ltd., (Japan)', 'Salt Union, (UK)', 'Dow Chemical Company (US)', 'AkzoNobel N.V., (Netherlands)', 'Rio Tinto (UK)', 'ICL Group (Israel)', 'Wacker Chemie AG (Germany)', 'Kutch Chemical Industries Ltd., (India)', 'Dominion Salt (New Zealand)', 'Kopalnia Soli "Wieliczka" S.A., (Poland)', 'Mitsui Mining and Smelting Co., Ltd., (Japan)', 'Cheetham Salt (Australia)', 'Akzo Nobel Salt (Germany)'

The rapid industrialization across various sectors, including chemical manufacturing, water treatment, and oil and gas, is a major driver for the industrial salts market. The demand for salts in these industries for applications such as chemical synthesis, water softening, and drilling fluids continues to grow.

In order to manufacture the products like ethylene dichloride industrial salts are used and this is the only available option which is cost effective. It shall provide major opportunities for the growth of the market in the forecast period. 50% of industrial salts are demanded for the chemical processes across the world.

The industrial salts market is segmented by region, North America dominates the industrial salts market, both in terms of consumption and production. With a well-established industrial infrastructure and a wide range of applications across various sectors, such as chemical manufacturing, water treatment, and oil and gas, North America remains at the forefront of the market. The region's abundant salt reserves and efficient extraction methods contribute to its leading position. Additionally, the demand for de-icing salts in winter seasons further drives the growth of the industrial salts market in North America.

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