PUBLISHER: The Business Research Company | PRODUCT CODE: 1270435
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270435
“Industrial Salts Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial salts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial salts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The industrial salts market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the industrial salts market are Cargill Incorporated, Mitsui & Co. Ltd., Nouryon, Rio Tinto Group, Compass Minerals International Inc., China National Salt Industry Corporation, Dominion Salt, Tata Chemicals Limited, INEOS Group Limited, Morton Salt, Donald Brown Group, Exportadora de Sal SA, COMPAGNIE DU SALINS DU MIDI AND SALINES DE L'EST, Delmon Chemical Industries, Archean Group, CK Life Sciences International Holdings Inc., and Akzo Nobel Salt Inc.
The global industrial salts market is expected to grow from $14.22 billion in 2022 to $14.89 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial salts market is expected to grow to $17.61 billion in 2027 at a CAGR of 4.3%.
The industrial salts market consists of sales of sodium chloride, anhydrous magnesium sulphate, epsom salt, potassium chloride and potassium sulphate. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Industrial salt is a finely processed, white crystalline granules from natural sources. It is suitable for various applications, including detergents, textile dyeing, resin products, and other chemical processes.
Asia-Pacific was the largest region in the industrial salts market in 2022. The regions covered in the industrial salts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of industrial salt sources are rock salt and natural brine. Rock salt refers to halite, which is a kind of salt that forms from the remains of ancient bodies of water in the rocky layers of the Earth's crust. Industrial salt from rock sources is used in a variety of industrial applications, including surface treatment, galvanizing, color enhancement, and other chemical processes. Major manufacturing processes are conventional mining, solar evaporation, and vacuum evaporation. It is used in several applications such as agriculture, chemical processing, food processing, water treatment, de-icing, and oil and gas.
The growing number of water treatment projects is expected to propel the industrial salt market. Water treatment is the process of purifying water for utilization or restoring it to its natural form. Industrial salts are used in water treatment to remove impurities and undesired components, as well as to lower the waste concentration in water supplies used for both household and industrial applications or discharge it back into the environment. Additionally, various government initiatives are implemented to improve water quality, which favors the demand for water treatment projects. For instance, in March 2021, the U.S. Department of Energy (DOE), a US-based federal government that oversees U.S. national energy policy and manages the research and development on power, announced the investment of $27.5 million for 16 water infrastructure projects with modern technologies to reduce energy use in aging water infrastructure, especially in wastewater treatment that demands up to 2% of domestic electricity use each year. Therefore, the growing number of water treatment projects is expected to drive the industrial salts market.
Strategic partnership is a key trend in the industrial salt market. Major players in the market are entering into a partnership to leverage each other's resources and expand in new markets. For instance, in May 2022, Nippon Shokubai, a Japan-based chemical manufacturer, partnered with Arkema. The aim of this partnership is to build a factory to produce ultrapure electrolyte salt, or LiFSI (Lithium bis(fluorosulfonyl)imide), a crucial part of battery cells for electric mobility. Arkema is a US-based manufacturer of specialty materials.
In July 2021, Stone Canyon Industries Holdings LLC (SCIH), a US-based company operating in industrial salts acquired K+S Aktiengesellschaft for a deal of $3.2 billion. Through this acquisition, Stone Canyon Industries Holdings LLC (SCIH) aims to strengthen and expand its salts business to offer an extensive line of products to consumers as well as governmental and commercial customers in America. K+S Aktiengesellschaft is a Germany-based chemical company.
The countries covered in the industrial salts market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The industrial salts market research report is one of a series of new reports from The Business Research Company that provides industrial salts market statistics, including industrial salts industry global market size, regional shares, competitors with an industrial salts market share, detailed industrial salts market segments, market trends and opportunities, and any further data you may need to thrive in the industrial sales industry. This industrial salts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.