Industrial Salt

Industrial Salt Demand Is Projected To Increase At Around 4% Cagr Through 2031

Chemical & Materials

The industrial salt market stood at US$ 13.1 Bn in 2020, accounting for around 45% of the global salt market revenue share. Owing to multiple end uses, industrial salt demand is projected to increase at around 4% CAGR through 2031.

Market growth is mainly attributed increased application of industrial salt such as in chemical processing, caustic soda, soda ash, water treatment, de-Icing, and many more. Global consumption of industrial salt is poised to increase to 455 KT by 2031.

The latest market research report analyzes Industrial Salt Market demand by Different segments. Providing business leaders with insights On Industrial Salt And how they can increase their market share.

Click Here To get a Sample Report (Including Full TOC, Table & Figures):-https://www.factmr.com/connectus/sample?flag=S&rep_id=4972

Key Segments of Industrial Salt Industry Research

  • By Grade

    • Grade-I Industrial Salt
    • Grade-II Industrial Salt
    • Others
  • By Source

    • Rock Salt
    • Natural Brine
  • By Production Process

    • Conventional Mining
    • Solar Evaporation
    • Vacuum Evaporation
  • By Application

    • Industrial Salt for Chemical Processing
      • Caustic Soda
      • Soda Ash
      • Industrial Salt for Power Industry
      • Industrial Salt for Oil & Gas Industry
      • Industrial Salt for Water Treatment Industry
      • Industrial Salt for De-Icing
      • Others

Key Takeaways from Market Study

  • The global industrial salt market is anticipated to witness decent growth over the period of forecast and create a value opportunity of around US$ 6.3 Bn, adding 1.5X value as compared to 2020.
  • Oil & gas applications are set to dominate market revenue in 2021, and expected to gain 20 BPS in their market share by 2031.
  • The de-icing segment is anticipated to lose around 67 BPS over the forecast period.
  • East Asia holds a leading share in the global industrial salt market, of which, China has captured a lion’s share of the demand.
  • The COVID-19 pandemic adversely affected all regions and industries. With the oil & gas sector – an important end user of industrial gas – being badly affected, growth of the market will be sluggish in 2021.

“Key market stakeholders with economies of scale are set to gain impressive profits over the coming years,” says a Fact.MR analyst.

Competitive landscape

Top manufacturers of industrial salt include AkzoNobel N.V, K+S AG, Sojitz, Mitsui Chemicals, Cargill, Arytomsol, Ciech S.A, Tata Chemicals, Swiss Salt Works AG, CK Life Sciences International, Compass Minerals International Inc., and Infosa.

All these manufacturers are focussed on gaining maximum market attraction, delivery, portfolio expansion, and brand development.

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