Market Growth & Trends in Industrial Salts
The global industrial salts market size is expected to reach USD 15.9 billion by 2025. According to a new report by Grand View Research, Inc., Demand is expected to rise due to the increasing use of brine in chemical processing industries to produce chlorine and caustic soda. Market growth is expected to be driven by the rising demand for industrial sodium with increased penetration in various applications industries, including chemical processing and water treatment. The primary consumer of salt in the manufacture of chlorine and caustic soda is the Chlor-alkali industry.
It is expected that the market for industrial salts will grow despite the lack of an economical substitute. There are many chemicals, such as calcium chloride and magnesium acetate, but these can substitute them for salt in specific chemical processes and food flavoring. There are many forms of industrial salts. Many participants, including local and global manufacturers, offer a broad product range distributed in a relationship economy trade orientation. The market is price sensitive because it is a natural resource. It also has low profit margins.
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Industrial Salts Market Report Highlights
- Brine was a source of 63.4% revenue share in 2016. The growth is due to its use in chemical processing industries to produce chlorine, soda ash, caustic soda, and other sectors like deicing, water treatment, and in other sectors like deicing.
- Due to rising demand in deicing applications in extreme winter countries such as the U.S., Canada, and Germany, rock salt was responsible for a 45.9% market share.
- The forecast period will see a 2.4% increase in the demand for water treatment services due to increasing water quality standards and better access to safe drinking waters and sanitation facilities.
- The Asia Pacific accounted for 36.4% revenue share in 2016. The growth is due to the growing demand for the chemical processing industry, mainly in China and India. India accounts for 69.5% of revenue generation.
- Major players in the industry strive to increase their sales volume through customer loyalty and tapping new segments with high-profit margins.
