Global industrial salt market is expected to register a 2.2% CAGR over the forecast period. The global market is segmented into product type such as brine extracted through solution mining, mined rock salt and seawater solar evaporation. Among these segments, mined rock salt segment is expected to occupy the leading position in the market by the end of 2021. The growth of the segment can be attributed to its widespread industrial uses. Moreover, increasing uses of rock salt in water treatment and chemical industries is predicted to foster the growth of this segment over the forecast period.
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Moreover, the global industrial salt market is poised to display substantial growth over the forecast period owing to increasing demand for industrial salt in chemical industries across the globe.
The chemical processing segment by end use is expected to grow at considerable pace over the forecast period. High consumption of salt for chlorine production in chemical industries is a major factor which is why chemical industry is becoming one of the major consumers of industrial salt.
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Further, growing use of industrial salt in the manufacturing of caustic soda, soda ash and chlorine is expected to bolster the growth of global market in future. In addition to this, rapid growth of chemical industries in developing countries such as India & China is expected to increase the demand for industrial salt in near future.
Wide Scale Application
Growing applications of industrial salt in various industries such as chemical, pharmaceutical and others is believed to be the dynamic factor behind the rapid growth of rock salt market. Moreover, rising adoption of industrial salt by chemical industry for obtaining chlorine and textile and tanning industries are some of the major factors triggering the market of industrial salt.
Some of the much known applications of industrial salts are for cleaning of oil & gas wells and in de-icing of roads.
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Escalating Demand for Rock Salt
The demand for chlor-alkali is increasing and this factor is envisioned to escalate the demand for industrial salt in future. Further, low cost and wide abundance of industrial salt is a key factor which is augmenting the demand for industrial salt
across the globe.
Although, highly fragmented nature of the industrial salt is likely to obstruct the growth of the industrial salt market in the near future.
The report titled “Industrial Salt Market : Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global industrial salt market in terms of market segmentation by end-use, by production method and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global industrial salt market which includes company profiling of Cargill Incorporated, Compass Minerals, INEOS, CNSIC, K+S, Dominion Salt Ltd, Tata Chemicals Ltd., Mitsui & Co., Ltd. and esco - european salt company GmbH & Co.
KG. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial salt market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...