The global industrial salts market is
expected to reach USD 15.9 billion by 2025, according to a new report by Grand
View Research, Inc. The growing application of brine in chemical processing
industry for deriving chlorine and caustic soda is expected to drive demand.
The rising demand for industrial salts with
increasing penetration in wide range of application industries including
chemical processing, water treatment, and agriculture is expected to drive
market growth over the forecast period. Chlor-alkali sector in a chemical
industry is a major consumer of salt for manufacturing of caustic soda and
chlorine.
The unavailability of economic substitute
is expected to have a positive impact on the market growth. However, chemicals
such as calcium chloride, calcium magnesium acetate, hydrochloric acid,
potassium chloride are potential substitutes for salt in de-icing, certain
chemical processes, and in food flavoring available at high cost.
Industrial salts are available in different
forms and large number of participants including global and local manufacturers
offer broad product portfolio which are distributed under relationship economy
trade orientation. As it is a natural resource, the market is highly price
sensitive and operates on low profit margins.
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http://www.grandviewresearch.com/industry-analysis/industrial-salts-market
Further key findings from the report suggest:
· Brine as a source accounted for 63.4% of
the revenue share in 2016 owing to its application in the chemical processing
industry to derive chlorine, soda ash, caustic soda and use in other industries
such as deicing and water treatment
· Rock salt accounted for 45.9% of the
overall revenue share owing to the rising demand for deicing application in
countries with extreme winter conditions including U.S., Canada and Germany
· Growing demand from water treatment industry
owing to rising water quality standards, and improved access to safe drinking
water supplies and sanitation facilities is expected to grow at a CAGR of 2.4%
over the forecast period
· Asia pacific accounted for 36.4% of the
revenue share in 2016 owing to the growing demand for the product in chemical
processing industry primarily in China and India accounting for 69.5% revenue
generation
· The major players in the industry are
striving to increase sales volume by strengthening customer loyalty in the
existing market and through tapping of new segments with high-profit margins
Grand View Research has segmented the
global industrial salts market on the basis of source, product, application and
region:
Source Outlook (Volume, Million Tons,
Revenue, USD Million, 2014 - 2025)
·
Brine
·
Salt mines
Product Outlook (Volume, Million Tons,
Revenue, USD Million, 2014 - 2025)
·
Rock salt
·
Salt in brine
·
Solar salt
·
Vacuum pan salt
Application Outlook (Volume, Million Tons,
Revenue, USD Million, 2014 - 2025)
·
Chemical processing
o
Caustic soda
o
Soda ash
o
Chlorine
·
De-icing
·
Oil & Gas
·
Water treatment
·
Agriculture
·
Others
Regional Outlook (Volume, Million Tons,
Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
