The global industrial
salts market is projected to reach a value of USD 24.14
Billion in 2027. Growing usage of industrial salts as a building block in the
chemicals industry, major uplift in demand for industrial salts in detergent
and soap and agro-chemical manufacturing, and rapidly increasing in deployment
of wastewater and water treatment solutions in industrial & municipal
sewage services are major factors driving market growth.
Rise in domestic production of dyes and chemical pigments is
also supporting growth of the market. Also, rising consumption of pesticides,
pharmaceutical drugs, and cosmetics in Asia Pacific and considerable rise in
production base in countries such as China, Japan, and India is driving demand
for industrial salts to a significant extent.
In addition, growing number of pharmaceutical industries and
usage of industrial salts in the manufacture of drugs in APAC countries such as
India, China, and Japan, and increasing growth in consumption of pesticides in
the region is expected to contribute significantly to global market revenue and
growth.
Key players in the market include Compass Minerals America
Inc., K+S AG, China National salt Industry Co., Cargill, Inc., Mitsui & Co.
Ltd., Tata Chemicals Ltd., Exportadora de Sal de C.V., Dominion Salt Ltd., Rio
Tinto Group, and Morton Salt, among others.
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For the purpose of this report, Reports and Data has segmented
the global industrial salts market on the basis of End-Use, Source, Product,
and Region:
End-Use Outlook (Revenue: USD Billion; 2017-2027,
Volume: Kilo Tons; 2017-2027)
- Chemical
Processing
- De-icing
- Oil
& Gas
- Water
Treatment
- Agriculture
- Others
Source Outlook (Revenue: USD Billion; 2017-2027,
Volume: Kilo Tons; 2017-2027)
- Brine
- Salt
Mines
Product Outlook (Revenue: USD Billion; 2017-2027,
Volume: Kilo Tons; 2017-2027)
- Rock
Salt
- Salt
in Brine
- Solar
Salt
- Vacuum
Pan Salt
Regional Outlook (Revenue: USD Billion; 2017-2027,
Volume: Kilo Tons; 2017-2027)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- MEA
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Further key findings in the report
- In
February 2020, Stone Canyon Industries Holdings LLC announced its
agreement of acquisition of business of Kissner Group Holdings LP, which
is a industry-leading pure-play producer and supplier of salt in North
America.
- Considerable
surge in demand for clean and safe water has been resulting in rising
investments in water treatment facilities globally, hence driving overall
market growth.
- The
solar salt segment accounted for largest revenue share of 42.6% in 2019,
and is expected to register at a CAGR of 6.4% during the forecast period.
The higher market share accounted for by the solar salt segment is
attributed to increasing focus and investments in wastewater treatment
plant operations and facilities, and is resulting in increasing demand for
solar salts for a varying range of applications – including for topping up
brine tanks and water softeners – in these facilities.
- The
market in North America is projected to account for 27.2% revenue share in
the global industrial salts market by 2027, owing to significantly high
usage of industrial salts in de-icing and chemical processing
applications.
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