Industrial Salts Market Scope
Industrial salt, made by the chemical substances with sodium chloride that enhances their wide range of industrial applications, and used to develop polyester, glass and plastic. And, also used in the production of case-hardened steel, brass, tires, etc. Owing to improve the density of soil and mud in oil & gas industry, industrial salt provides a more efficient and safe drilling rig. Moreover, innovations such as the use of magnesium chloride liquid along with sodium chloride for improved properties are expected to offer the lucrative opportunity in the growth of the industrial salts in de-icing applications.
According to AMA, the Global Industrial Salts market is expected to see growth rate of 2.7%Global players can respond more flexibly than local competitors to fluctuations in weather-dependent demand for de-icing, maintaining dependable supply to consumers, thanks to their network of production sites. The companies in this area are competitive, competing based on product quality and regional expansion. Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Industrial Salts market throughout the predicted period.
K+S AG (Germany), Cargill, Inc. (United States), Compass Minerals America Inc. (United States), China National Salt Industry Co. (China), Tata Chemicals Ltd. (India), Mitsui & Co. Ltd. (Japan), Rio Tinto Group (United Kingdom), SALINES Group (France), Dominion Salt Ltd. (New Zealand) and Exportadora de Sal de C.V. (Mexico) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Industrial Salts market , by Application (Agriculture, Chemical Processing, De-Icing, Oil & Gas, Water Treatment and Others) and Region with country level break-up.
On the basis of geography, the market of Industrial Salts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Production of the Chloralkali Chemicals
Market Growth Drivers:
Growing Demand for Industrial Salt in Food and Beverages Industry and Economic and Large Availability of salt Reserves
Challenges:
Cost-Intensive Logistical Operations and Leasing of Salt Mines or Salt Pans Affecting Continuous Supply
Restraints:
Environmental & Health Concerns Over the Usage of Salts in Certain Applications
Opportunities:
Lack of Cost-Effective Substitutes and Increasing Industrialization in Developing Economies
Market Leaders and their Expansionary Development Strategies
In 2023, Cargill’s salt business has signed an agreement with CIECH Group. CIECH's food grade evaporated salts will be coupled with Cargill's market-leading portfolio of specialist food salts, which includes Alberger, Premier, Microsized, and Potassium Pro. Cargill now has access to a broad spectrum of specialised and evaporated food salt solutions for European food makers thanks to its collaboration with CIECH, which has facilities in Janikowo, Poland, and Stassfurt, Germany.
Key Target Audience
Suppliers of Raw Materials, Manufacturers of Industrial salts, Traders, Distributors, and Suppliers of Industrial salts, Government & Regional Agencies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.