The global industrial salt market is anticipated to reach USD 15.90 billion by 2025, growing at a CAGR of 2.9% over the forecast period from 2019 to 2025. The market for the industrial salts is guided by the rise in development owing to the number of applications. —
The global industrial salt market has seen strong development over the past couple of years with its end-business, and is anticipated to continue in the coming years. The main driving factor would be a rise in demand for product in various end-industries such as chemical processing, de-icing, water treatment, oil & gas, and agriculture.
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Increasing technical advances relating to the manufacture of high purity salt using the vacuum pan technology, has anticipated the demand to expand over the coming years. However, due to the availability of low-cost processing technologies such as solution mining, traditional mining, and solar evaporation, the acceptance of the technology is highly anticipated in the global market.
Rising number of industries and businesses that manufacture products such as processed food items or others, rising population which is creating huge demand for the products across various industries, growing number of companies as well as rising manufacturing processes in the rural areas to create employment opportunities in those places are the major factors that are fueling the growth of global industrial salt market over the analysis time frame.
Further, increasing number of factories that make use of these salts for cleaning several equipments and machines in the factories and industries as well as to clean alloys of certain compounds which will lower the cost of cleaning detergent and other chemicals used for cleaning and reduce the cost of cleaning for the companies, hence creating opportunities for the growth o global industrial salt market in the coming years. Further, rising usage of the product in the agriculture sector as well as rising awareness regarding its uses and benefits to the farmers is further contributing to the growth of global industrial salt market in the coming years.
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Industrial salt creation has been increased over the course of the years to give to the rising interest inferable from an expansive assortment of direct end utilization of the item like horticultural purposes and deicing. In addition, the aberrant uses of the industrial salt assistance to remove chlorine and burning soft drink to be utilized in the synthetic assembling area. In the compound business, the chlorine-antacid market has a huge client of the item inferable from the inaccessibility of any business option in contrast to the ware.
The global industrial salt market is categorized based on source, manufacturing process and application. Region wise, Asia Pacific was the largest market in 2018, and is anticipated to grow at a significant CAGR over the forecast period. North America is expected to grow at a significant rate over the coming years.
Key players operating in the global industrial salt market include K+S AG, Compass Minerals America Inc., Cargill, Inc., Dominion Salt Ltd., China National salt Industry Co., Mitsui & Co. Ltd., Tata Chemicals Ltd., Rio Tinto Group, and Exportadora de Sal de C.V. among others.
Key segments of the global industrial salt market
Source Overview, 2015-2025 (USD Billion)
Manufacturing Process Overview, 2015-2025 (USD Billion)
Vacuum Pan Evaporation
Application Overview, 2015-2025 (USD Billion)
Oil & Gas
Regional Overview, 2015-2025 (USD Billion)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
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