DUBLIN, September 22, 2017 /PRNewswire/ --
The "Industrial Salt Market by Source (Rock Salt, Natural Brine), Manufacturing Process (Conventional Mining, Vacuum Evaporation, Solar Evaporation), Application (Chemical Processing, De-Icing, Water Treatment, Oil/Gas) & Region - Global Forecast to 2022" report has been added to Research and Markets' offering.
The industrial salt market was valued at USD 12.70 Billion in 2016 and is projected to reach USD 14.93 Billion by 2022, at a CAGR of 2.8% from 2017 to 2022
The growth of the chlor-alkali industry is driving the growth of the industrial salt market in the chemical processing application. The growing use of industrial salt in de-icing and water treatment applications is also fueling the growth of the market across the globe.
Based on source, the rock salt segment of the industrial salt market is projected to witness a higher growth during the forecast period. The growth of this segment of the market can be attributed to the availability of large reserves of salt in salt mines. Rock salt is also commonly referred as halite. Rock salt generally comprises of sodium chloride with impurities such as gypsum (CaSO4) and sylvite (KCl). Rock salt deposits are found buried underground in arid regions, such as dry lake beds, inland marginal seas, enclosed bays, and estuaries. These rock salt are mined either by conventional mining, continuous mining equipment, or solution mining processes. Rock salt are cheaper as compared to natural brine salt, due to the challenges in the evaporation process of brine salt.
Based on manufacturing process, the conventional mining process segment of the industrial salt market is projected to witness the highest growth during the forecast period. The large availability of rock salt deposits and landscape of these mines favoring the mining process is expected to drive the conventional mining process segment of the industrial salt market.
The Asia Pacific region accounted for the largest share of the industrial salt market, followed by Europe, in 2016. The increased demand for industrial salt from the Asia Pacific region can be attributed to the growth in the chemical processing and water treatment sectors in the region. Expansion of the chlor-alkali industry and the increasing number of water treatment plants are expected to drive the growth of the Asia Pacific industrial salt market during the forecast period.
Companies operating in the industrial salt market have adopted the strategies of new product launches, expansions, and mergers & acquisitions to enhance their market shares and expand their distribution networks across the globe. These companies are also engaged in R&D activities to innovate and develop products for use in new applications. For instance, in August 2016, Cargill, Inc. launched its new Diamond Crystal Fine Kosher Salt. The new product is manufactured specifically for the food processing industry to reduce product waste.
Market Dynamics
Drivers
- Growth of Application Areas of Industrial Salts
- Cost-Effective And Abundant Availability of Salt Reserves
Restraints
- Environmental And Health Concerns Over the Usage of Salt in Certain Applications
Opportunities
- Lack of Cost Effective Substitutes
Challenges
- High Cost Logistical Operations And Leasing of Salt Mines Or Salt Pans
Companies Mentioned
- Akzonobel N.V.
- Amra Salt Co.
- Atisale S.P.A.
- Cargill, Inc.
- China National Salt Industry Corporation (Cnsic)
- Ck Life Sciences International Holdings Inc.
- Compass Minerals International Inc.
- Dev Salt Pvt. Ltd.
- Dominion Salt Ltd
- Donald Brown Group
- Exportadora De Sal De C.V.
- Ineos Group Holdings S.A.
- Infosa
- Irish Salt Mining & Exploration Co. Ltd. (I.S.M.E. Co. Ltd.)
- Italkali Societa Italiana Sali Alcalini S.P.A
- Mitsui & Co. Ltd.
- Rio Tinto Plc.
- Salins Group
- State Enterprise Arytomsol
- Swiss Saltworks Ag
- Tata Chemicals Ltd.
- Wacker Chemie Ag
- Wilson Salt Company
For more information about this report visit https://www.researchandmarkets.com/research/8hsrnr/industrial_salt
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