CHICAGO, June 13, 2023 /PRNewswire/ -- According to Arizton's latest research report, the industrial salt market will grow at A CAGR of 4.13% during 2022-2028.
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Global industrial salts market shipments are projected to reach 389.51 million tons by 2028, driven by their extensive non-food applications in chemical manufacturing, water treatment, and de-icing. Industrial salt plays a crucial role in various industries with over 14,000 diverse uses, including dye setting, glass production, and tire manufacturing. Salt production, one of the oldest and most widespread industries, spans more than 100 countries, with approximately 60% of global salt production dedicated to industrial purposes. The industrial salt market is witnessing increasing competition, with Asia poised to exhibit the strongest regional growth. Furthermore, the international trade of industrial salt has experienced significant expansion, as traditional European salt producers face competition from emerging suppliers as distant as Australia, Mexico, and Chile. These dynamics present substantial growth opportunities for industry participants in the salt market.
The chlor-alkali industry is the largest end-user of industrial salts. In 2018, the industry accounted for approximately 36% of the global consumption of industrial salts, equivalent to 127.8 million tons. Around 52% of the global consumption of industrial salts was witnessed in East Asia, followed by North America and Western Europe. The per capita consumption of caustic soda increased by 60% in China during the last 10 years. Japan and South Korea have exceeded Western Europe regarding the per capita consumption of industrial salts. The rise in demand for products such as caustic soda and soda ash will drive the growth of the chlor-alkali market. In 2028, the chlor-alkali production capacity is expected to reach 99 million tons from 90 million tons in 2018. Thus, the growth of the chlor-alkali market is expected to drive the demand for industrial salts, the primary raw materials used in the chlor-alkali manufacturing process.
Global Industrial Salt Market Report Scope
Report Scope | Details |
Market Size (2028) | USD 17.43 Billion |
Market Size (2022) | USD 13.67 Billion |
CAGR (2022-2028) | 4.13 % |
Market Size - Volume (2028) | 389.51 Million Tons |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Process, Product Type, End-user, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Countries Covered | China, India, Australia, Japan, South Korea, the US, Canada, Germany, the UK, Russia, France, Poland, Iran, Saudi Arabia, the UAE, Turkey, Egypt, Brazil, Mexico, and the Rest of Latin America |
Market Dynamics |
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Key Highlights
- Nearly 60% of the global industrial salt output is intended for industrial applications across many areas. Therefore, the demand for industrial salts has increased over the years, making the market more competitive.
- The rise in investments by salt producers in new sources for cost-effective production is expected to underpin the growth in the chlor-alkali industry across Asia.
- The rise in the consumption of industrial salts has been particularly strong in China, which is a net importer of salt despite its position as the largest salt-producing country in the world.
- The US has remained the largest importer of industrial salts in 2022. Chile, Mexico, and Egypt emerged as the main suppliers of industrial salts to the US in 2022.
- Hub-Pak of Pakistan has announced plans to develop the world's largest seawater solar salt operation under a private-public partnership with the government.
- K+S, a global leader in salt production, continues to move forward with the Ashburton solar salt project located 40 kilometers southwest of Onslow in the Pilbara region of Western Australia.
- The leading market for chlor-alkali is a vinyl-chlorinated monomer (VCM), the precursor of polyvinyl chloride (PVC), which accounts for over 50% of the total market.
- Complying with stringent government regulations is a key challenge for vendors specializing in salt mining and extraction. Government regulations have a profound impact on the metals and mining sector.
- Some of the largest salt mines in the world are in the US, Canada, Germany, Pakistan, Poland, Italy, Germany, Romania, and Russia.
- Natural brine springs of commercial importance are found in the Dead Sea, Austria, France, Germany, India, the UK, and the US.
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APAC Emerges as Dominant Force in Global Industrial Salts Market, Fueled by Rapid Industrialization and Rising Demand for Processed Food and Chemicals
APAC takes the lead in the global industrial salts market with over 45% consumption share Asia-Pacific region experiences remarkable growth driven by industrialization, population surge, and increased demand for processed food and chemicals. China, India, and Japan emerge as key markets, with China leading as the largest producer and consumer of industrial salt worldwide. East Asian countries witness an urbanization boom, propelling the construction sector with PVC and glass as primary materials. Industrial salt plays a vital role in PVC and glass production, bolstering the market growth in APAC.
North America's Demand for De-icing Salt Soars, especially in Northern U.S. and Canada cold weather conditions in Northern U.S. and Canada lead to substantial consumption of de-icing salt annually. The United States uses approximately 19 million tons of salt yearly for de-icing roads, sidewalks, and walkways.
Europe's industrial salt market thrives, driven by Rock Salt's wide applications Germany, the UK, France, Poland, and Russia dominate Europe's salt production. Rock salt's extensive use in de-icing and the chemical industry contributes significantly to the growth of the industrial salt market in the region.
Brazil Leads Latin America's Industrial Salt consumption, fueled by chemical and mining industries. Brazil emerges as the top consumer of industrial salt in Latin America, driven by the demand from the chemical and mining sectors.
Middle East and Africa witness growing demand for industrial salt United Arab Emirates, Saudi Arabia, and South Africa play crucial roles as major consumers in the industrial salt market. The region's flourishing chemical, oil, and gas sectors fuel the demand for industrial salt.
Global Industrial Salt Market Witnessing Intensified Competition Among Numerous Players
The global industrial salt market is characterized by a fragmented landscape, featuring a multitude of small and large companies. This scenario contributes to a highly competitive market environment that is projected to become even more fiercely contested in the coming years. Companies that specialize in manufacturing superior, popular, and cost-effective products are expected to gain a competitive advantage in this global industry.
One such example is the collaboration between China and North America, which aims to produce marine chemicals at a competitive cost. This initiative will lead to the availability of industrial salt at affordable prices, further intensifying the competition. Companies equipped with robust financial and technological resources, supported by large managerial teams, are better positioned to identify market opportunities. Their flexibility enables them to swiftly embrace changes, drive product innovation, and offer competitive pricing based on economies of scale. These factors are anticipated to stimulate the growth of the global industrial salt market throughout the forecast period.
Consequently, the global industrial salt market has evolved into a highly competitive arena, where numerous players are striving to secure a larger market share. To maintain their competitiveness and ensure sustainable market presence, companies are employing diverse strategies such as product differentiation, competitive pricing, innovation, technological advancements, and brand recognition.
Key Company Profiles
- Cargill
- Compass Mineral America
- Dominion Salt
- Rio Tinto
- Tata Chemicals
- K+S Aktiengesellschaft
- China National Salt Industry Group Co. Ltd
- INEOS
- Wilson Salt
- ICL Salt
- Irish Salt Mining
- Nobian
- Donald Brown Group
- Delmon
- Mitsui & Co.
- Morton Salt
- Archean Chemical Industries
- Zoutman
- Swiss Salt Works
- Salins Group
- Amra Salt Factory
- CIECH GROUP
- American Rock Salt
Market Segmentation
Process
- Extractor
- Steamer
Product Type
- Solar Salt
- Rock Salt
- Salt in Brine
- Vacuum Salt
End-user
- Chemical Industry
- De-icing
- Water Treatment
- Oil & Gas Industry
- Others
Geography
- APAC
- China
- India
- Australia
- Japan
- South Korea
- North America
- The US
- Canada
- Europe
- Germany
- The UK
- Russia
- France
- Poland
- Middle East & Africa
- Iran
- Saudi Arabia
- The UAE
- Turkey
- Egypt
- Latin America
- Brazil
- Mexico
- Rest of Latin America
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Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY GEOGRAPHY
4.3.2 MARKET BY PROCESS TYPE
4.3.3 MARKET BY PRODUCT TYPE
4.3.4 MARKET BY END USER
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
7.1 REPORT OVERVIEW
7.2 ANALYSIS OF OPPORTUNITIES & CHALLENGES
7.3 SEGMENT ANALYSIS
7.4 REGIONAL ANALYSIS
7.5 COMPETITOR ANALYSIS
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 APPLICATION BASED ON ANALYSIS
8.1.2 SALT PRODUCTION PROCESS
8.1.3 GLOBAL SALT PRODUCTION
8.1.4 GOVERNMENT REGULATION AND POLICIES
8.1.5 RISK FACTORS FOR MARKET
8.1.6 COVID-19 IMPACT ANALYSIS
8.1.7 GLOBAL ECONOMIC CONDITION
9 MARKET OPPORTUNITIES & TRENDS
9.1 RAPID PACE OF INDUSTRIALIZATION
9.2 GROWING USE OF SOLAR SALTS
9.3 EXPANSION OF SALT MINES & OTHER PRODUCTION FACILITIES
10 MARKET GROWTH ENABLERS
10.1 TECHNOLOGICAL ADVANCES IN SALT PRODUCTION
10.2 HIGH USE OF SALT IN CHEMICAL & PHARMACEUTICAL INDUSTRIES
10.3 RISE IN DEMAND FOR WATER TREATMENT SYSTEMS
11 MARKET RESTRAINTS
11.1 HEALTH & ENVIRONMENTAL ISSUES
11.2 LIMITED AVAILABILITY & HIGH PRICES OF RAW MATERIALS
11.3 ENDURING ECONOMIC SLOWDOWN
11.4 WINTER WEATHER VARIABILITY AFFECTING SALES OF DE-ICING SALTS
11.5 STRINGENT GOVERNMENT REGULATIONS
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 MARKET BY PROCESS
12.4 MARKET BY PRODUCT TYPE
12.5 MARKET BY END USER
12.6 FIVE FORCES ANALYSIS
12.6.1 THREAT OF NEW ENTRANTS
12.6.2 BARGAINING POWER OF SUPPLIERS
12.6.3 BARGAINING POWER OF BUYERS
12.6.4 THREAT OF SUBSTITUTES
12.6.5 COMPETITIVE RIVALRY
13 PROCESS
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 EXTRACTOR
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 MARKET BY GEOGRAPHY
13.4 STEAMER
13.4.1 MARKET OVERVIEW
13.4.2 MARKET SIZE & FORECAST
13.4.3 MARKET BY GEOGRAPHY
14 PRODUCT TYPE
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 SOLAR SALT
14.3.1 MARKET SIZE & FORECAST
14.3.2 MARKET BY GEOGRAPHY
14.4 ROCK SALT
14.4.1 MARKET SIZE & FORECAST
14.4.2 MARKET BY GEOGRAPHY
14.5 SALT IN BRINE
14.5.1 MARKET SIZE & FORECAST
14.5.2 MARKET BY GEOGRAPHY
14.6 VACUUM SALT
14.6.1 MARKET SIZE & FORECAST
14.6.2 MARKET BY GEOGRAPHY
15 END USER
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 CHEMICAL INDUSTRY
15.3.1 MARKET OVERVIEW
15.3.2 MARKET SIZE & FORECAST
15.3.3 MARKET BY GEOGRAPHY
15.4 DE-ICING
15.4.1 MARKET OVERVIEW
15.4.2 MARKET SIZE & FORECAST
15.4.3 MARKET BY GEOGRAPHY
15.5 WATER TREATMENT
15.5.1 MARKET OVERVIEW
15.5.2 MARKET SIZE & FORECAST
15.5.3 MARKET BY GEOGRAPHY
15.6 OIL & GAS INDUSTRY
15.6.1 MARKET OVERVIEW
15.6.2 MARKET SIZE & FORECAST
15.6.3 MARKET BY GEOGRAPHY
15.7 OTHERS
15.7.1 MARKET OVERVIEW
15.7.2 MARKET SIZE & FORECAST
15.7.3 MARKET BY GEOGRAPHY
16 GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE (REVENUE)
16.2 MARKET SNAPSHOT & GROWTH ENGINE (VOLUME)
16.3 GEOGRAPHIC OVERVIEW
17 APAC
17.1 MARKET SIZE & FORECAST
17.2 PROCESS
17.2.1 MARKET SIZE & FORECAST
17.3 PRODUCT TYPE
17.3.1 MARKET SIZE & FORECAST
17.4 END USER
17.4.1 MARKET SIZE & FORECAST
17.5 KEY COUNTRIES (VOLUME)
17.5.1 CHINA: MARKET SIZE & FORECAST
17.5.2 INDIA: MARKET SIZE & FORECAST
17.5.3 AUSTRALIA: MARKET SIZE & FORECAST
17.5.4 JAPAN: MARKET SIZE & FORECAST
17.5.5 SOUTH KOREA: MARKET SIZE & FORECAST
18 NORTH AMERICA
18.1 MARKET SIZE & FORECAST
18.2 PROCESS
18.2.1 MARKET SIZE & FORECAST
18.3 PRODUCT TYPE
18.3.1 MARKET SIZE & FORECAST
18.4 END USER
18.4.1 MARKET SIZE & FORECAST
18.5 KEY COUNTRIES (VOLUME)
18.5.1 US: MARKET SIZE & FORECAST
18.5.2 CANADA: MARKET SIZE & FORECAST
19 EUROPE
19.1 MARKET SIZE & FORECAST
19.2 PROCESS
19.2.1 MARKET SIZE & FORECAST
19.3 PRODUCT TYPE
19.3.1 MARKET SIZE & FORECAST
19.4 END USER
19.4.1 MARKET SIZE & FORECAST
19.5 KEY COUNTRIES (VOLUME)
19.5.1 GERMANY: MARKET SIZE & FORECAST
19.5.2 UK: MARKET SIZE & FORECAST
19.5.3 RUSSIA: MARKET SIZE & FORECAST
19.5.4 FRANCE: MARKET SIZE & FORECAST
19.5.5 POLAND: MARKET SIZE & FORECAST
20 MIDDLE EAST & AFRICA
20.1 MARKET SIZE & FORECAST
20.2 PROCESS
20.2.1 MARKET SIZE & FORECAST
20.3 PRODUCT TYPE
20.3.1 MARKET SIZE & FORECAST
20.4 END USER
20.4.1 MARKET SIZE & FORECAST
20.5 KEY COUNTRIES (VOLUME)
20.5.1 IRAN: MARKET SIZE & FORECAST
20.5.2 SAUDI ARABIA: MARKET SIZE & FORECAST
20.5.3 UAE: MARKET SIZE & FORECAST
20.5.4 TURKEY: MARKET SIZE & FORECAST
20.5.5 EGYPT: MARKET SIZE & FORECAST
21 LATIN AMERICA
21.1 MARKET SIZE & OVERVIEW
21.2 PROCESS
21.2.1 MARKET SIZE & FORECAST
21.3 PRODUCT TYPE
21.3.1 MARKET SIZE & FORECAST
21.4 END USER
21.4.1 MARKET SIZE & FORECAST
21.5 KEY COUNTRIES (VOLUME)
21.5.1 BRAZIL: MARKET SIZE & FORECAST
21.5.2 MEXICO: MARKET SIZE & FORECAST
21.5.3 REST OF LATIN AMERICA: MARKET SIZE & FORECAST
22 COMPETITIVE LANDSCAPE
22.1 COMPETITION OVERVIEW
23 KEY COMPANY PROFILES
23.1 CARGILL
23.2 COMPASS MINERALS AMERICA
23.3 DOMINION SALT
23.4 RIO TINTO
23.5 TATA CHEMICALS
23.6 K+S AKTIENGESELLSCHAFT
23.7 CHINA NATIONAL SALT INDUSTRY GROUP
23.8 INEOS GROUP
24 OTHER PROMINENT VENDORS
24.1 WILSON SALT
24.2 ICL SALT
24.3 IRISH SALT MINES
24.4 NOBIAN
24.5 DONALD BROWN GROUP
24.6 DELMON
24.7 MITSUI & CO.
24.8 MORTON SALT
24.9 ARCHEAN CHEMICAL INDUSTRIES
24.10 ZOUTMAN
24.11 SWISS SALT WORKS
24.12 SALINS GROUP
24.13 AMRA SALT FACTORY
24.14 CIECH GROUP
24.15 AMERICAN ROCK SALT
25 REPORT SUMMARY
25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS
26 QUANTITATIVE SUMMARY
26.1 MARKET BY GEOGRAPHY
26.2 MARKET BY PROCESS
26.3 MARKET BY PRODUCT TYPE
26.4 MARKET BY END USER
26.5 APAC
26.5.1 PROCESS
26.5.2 PRODUCT TYPE
26.5.3 END USER
26.6 NORTH AMERICA
26.6.1 PROCESS
26.6.2 PRODUCT TYPE
26.6.3 END USER
26.7 EUROPE
26.7.1 PROCESS
26.7.2 PRODUCT TYPE
26.7.3 END USER
26.8 MIDDLE EAST & AFRICA
26.8.1 PROCESS
26.8.2 PRODUCT TYPE
26.8.3 END USER
26.9 LATIN AMERICA
26.9.1 PROCESS
26.9.2 PRODUCT TYPE
26.9.3 END USER
27 APPENDIX
27.1 ABBREVIATIONS
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