Global Industrial Salt Market is expected to reach US$ 15.69 Bn by 2024 from US$ 12.85 Bn in 2016 at a CAGR of 2.9%. 
Global industrial salt market is segmented by source type, manufacturing process, application, and region. On the basis of source type, market is classified into Rock Salt, Natural Brine. Based on manufacturing process, market is segmented into Conventional Mining, Solar Evaporation, and Vacuum Pan Evaporation. According to application market is divided into Chemical Processing, De-icing, Water Treatment, Oil & Gas, Agriculture, Others. Geographically market is spread by North America, Asia-Pacific, Latin America, Europe, and Middle East & Africa.
Availability of large reserves of salt in brine has natural brine source segment as dominating in industrial salt market. Natural brine segment holds two third share of market.
Rising development of paper and construction industries is expected to fuel the growth of global industrial salt market. Growing technological innovations pertaining to the production of high purity salt such as vacuum pan technology will propel the demand. Players involved in the market such as transport carriers including cost-effective railway lines, waterways, and their own logistics services to improve supply chain efficiency is predicted to impel the demand in forecast.
Increased production using solar evaporation process is trending the market. Solar evaporation process will continue its dominance throughout the forecast owing to reduced energy & time and is feasible process. Vaccum pan evaporation is gaining importance owed to product purity.
Chemical industry is the prime consumer of industrial salts accounting more than half share of the market. Industrial salt has numerous application in chemical industry also increase in consumption of chlorine in ethylene dichloride production and is projected to gain high demand during the forecast period. chemical industry is followed by deicing.
Geographically, the industrial salt market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to be one of the largest markets for industrial salt, followed by Europe, during the forecast period. Rising demand for industrial salt from the Asia Pacific region is driving the market growth.
key players operating in market are Cargill, Inc. (US), K+S AG (Germany), Compass Minerals International Inc. (US), Dominion Salt Ltd (New Zealand), China National Salt Industry (China), Tata Chemicals Ltd (India), Rio Tinto Plc. (UK), Mitsui & Co. Ltd (Japan), Ineos Group Holdings S.A. (Switzerland), CK Life Sciences International Holdings Inc. (China).
Scope of Global Industrial Salt Market :
Global Industrial Salt Market, by Source Type:
- Rock Salt
- Natural Brine
Global Industrial Salt Market, by Manufacturing Process:
- Conventional Mining
- Solar Evaporation
- Vacuum Pan Evaporation
Global Industrial Salt Market, by Application:
- Chemical Processing
- De-icing
- Water Treatment
- Oil & Gas
- Agriculture
- Others
Global Industrial Salt Market, by Geography:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Key Players Operating in the Market:
- Cargill, Inc. (US)
- K+S AG (Germany)
- Compass Minerals International Inc. (US)
- Dominion Salt Ltd (New Zealand)
- China National Salt Industry (China)
- Tata Chemicals Ltd (India)
- Rio Tinto Plc. (UK)
- Mitsui & Co. Ltd (Japan)
- Ineos Group Holdings S.A. (Switzerland)
- CK Life Sciences International Holdings Inc. (China)
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Report Published by: Maximize Market Research
