In 2020, the Global Industrial Salt market was valued at USD 14.3 billion. The market for industrial salts is forecast to reach USD 20.1 billion by 2029. The global market will have a 3.3% annual growth rate from 2020 to 2029.
Industrial salt is expected to increase in demand due to the production of large quantities of chlorine and caustic acid. It is widely used in many industries and will continue to increase in demand. Water treatment and agricultural chemical processes are two of the primary uses for industrial salts. In chemical industries all over the globe, industrial salts are essential for producing chlorine and caustic soot. The market for industrial salts will continue to grow as there are no alternatives that are cost-effective.
These products are often more expensive than the ones on the marketplace, so they aren’t preferred by many industries. There are many global and local producers of industrial salts. They are available in many forms and are distributed to various industries. This market is extremely sensitive to the price of raw materials, which is why the profits made by these companies are very low.
- Industrial salt is used for water treatment and chemical processes. This demand will continue to grow over the next few years.
- It is used to produce caustic Chlor soda and soda ash.
- As it allows for creating a broad range of product portfolios, industrial sales can also aid market growth.
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- Use of industrial salts in many places– There are many uses for industrial salt. The chemical processing industry is one of the primary uses for industrial salts. Industrial salt is used in the chemical processing industry to make raw materials. It is used for the manufacture of caustic soda and soda ash chloride. These chemicals have been very popular and will continue to drive market growth in the coming years. As the demand for industrial salt has grown, so will the market in India and China.
- Lots of salt reserves – There is a lot of salt in large quantities, which happens to be the raw material from which industrial salts are made. The availability of salt will make it possible to meet the needs of different countries. Several government-funded projects have led to an increase in industrial salt use in the Asia Pacific. The growth of the Indian market is expected to be aided by the increased use of industrial sodium in water treatment. There are currently 27 projects in India for water treatment. It is used to purify and soften water.
Markets could be affected by toxicities from certain salts
Salts such as mercury chloride, barium bromide, lead, and other salts can be highly or moderately dangerous in nature. This can cause discomfort, death, and even death. For example, mercury salts primarily affect the gastrointestinal system but can also cause kidney damage. Even if the salts are not used frequently, they can cause brain damage. This can lead to permanent brain damage. This will limit market expansion.
Market Key Trends:
The rising demand for industrial salt as a critical ingredient for producing soda ash, caustic soda, and chlorine drives the global industrial salt market. For water softening or purification, many water treatment facilities around the globe use industrial salt. Because it is less expensive than natural salt, industrial salt is used extensively in the paper and pulp industry. Industrial salt can also remove road ice and snow and create a safe driving surface. It is used to produce saline solutions and capsules in the pharmaceutical sector. Due to its low cost, availability in large quantities, and affordability, industrial salt is widely used in the Chlor Alkali industry as a filler for detergents or solvents.
- Tata Chemicals Ltd, an industrial salt unit with a production capacity of 3 million tons per year from Archean Group, was to be acquired by Tata Chemicals Ltd in January 2021. This will enhance the company’s business.
- Ajax Equipment installed a new salt handling equipment in June 2018 at INEOS Runcorn. The system consisted of two screw conveyors with a screw feeder and two screw conveyors. INEOS Salt manufactures up to 500 kilotons each year.
Key Market Players:
- Compass Minerals
- INEOS Enterprises
- China National Salt Industry Corporation (CNSIC)
- Tata Chemicals Limited
- K+S Group
- Morton Salt
- Mitsui & Co. Ltd.
- Rio Tinto PLC.
- Delmon Salt Factory
- Donald Brown Group
- AkzoNobel N.V
- Exportadora De Sal SA.
- European Salt Company
- ZOUTMAN Industries
Key Market Segments:
- By Source
- Salt Mines
- By Product
- Rock Salt
- Salt in Brine
- Solar Salt
- Vacuum Pan Salt
- Chemical Processing
- Oil & Gas
- Water Treatment
Frequently Asked Questions (FAQs):
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