Industrial Salt Market Analysis, By Grade (Grade-I Industrial Salt, Grade-II Industrial Salt), By Source (Rock Salt, Natural Brine), by Production Process (Conventional Mining, Solar Evaporation), By Application (Chemical Processing, Oil & Gas
According to a new market analysis conducted by Fact.MR, sales of industrial salt are anticipated to increase at a steady 4% CAGR. The market will continue to expand due to rising demand for industrial salt in various end-use sectors such chemical processing, caustic soda, water treatment, and de-icing.
Due to this, the industrial salt industry is anticipated to grow to a value of US$ 20.3 billion by the year 2031, with more than 455 KT of industrial salt being consumed overall during this time. Industrial salt sales are benefiting from the growing use of industrial salt in the oil and gas industry for drilling natural resources like crude oil and natural gas.
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Further, expansion of the chemical industry is expected to bode well for the industrial salt market. Industrial salts are widely adopted in the chemical processing industry for the manufacturing of soda ash, caustic soda, and chlorine. These chemicals are further used in water treatment, laundry, and other applications. Hence, this is anticipated to boost the sales of industrial salt in the chemical sector.
As per Fact.MR, sales of industrial salts in the U.S. are estimated to gain traction over the assessment period. Increasing applications of industrial salts in de-icing of roadways, railway tracks, and runways is expected to spur demand for industrial salts, placing the U.S. as an attractive market in North America over the forecast period.
"Key market stakeholders with economies of scale are set to gain impressive profits over the coming years," says a Fact.MR analyst.
Key Takeaways:
Growth Drivers:
Competitive Landscape
Leading players operating in the global industrial salt market are aiming to expand their production facilities by investing in mergers, acquisitions, and collaborations. To cater to the expanding customer pool, players are increasing their research and development efforts to improve their product portfolios.
For instance,
Key Players in the Industrial Salt Market Include:
More Valuable Insights on Industrial Salt Market
Fact.MR provides an unbiased analysis of the industrial salt market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global industrial salt with a detailed segmentation on the basis of:
Grade:
Source:
Production Process:
Application:
Regions:
Key Questions Covered in Industrial Salt Market Report
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Industrial Salt Market , Global Industrial Salt Market , Grade-I Industrial Salt Market , Grade-II Industrial Salt Market , Rock Salt Sourced Industrial Salt
Jun 14, 2023