New York, NY -- (SBWire) -- 05/06/2021 --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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Table of Content:
1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
2. Executive Summary
2.1. Summary Snapshot, 2019-2027
3. Indicative Metrics
4. Industrial Salts Market Segmentation & Impact Analysis
4.1. Industrial Salts Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Technological advancement in the manufacturing industry
4.2.2.2. Increasing proliferation of the industrial salts in chemical processing
4.2.3. Market restraints analysis
4.2.3.1. Small manufacturers' concern of Cost-To-Benefit Ratio
4.2.3.2. Diverse environmental regulations in different regions
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continued…
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Industrial Salts Market Trends, Developments in Manufacturing Technology and Regional Growth Overview to 2027
The study methodologies used to examine Industrial Salts Market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.