Industrial Salts Market Growth Factors, Opportunities, Ongoing Trends and Key Players

Industrial Salts Market Growth Factors, Opportunities, Ongoing Trends and Key Players
Browse 158 Market Data Tables and 37 Figures spread through 168 Pages and in-depth TOC on “Industrial Salt Market”
Industrial Salt Market by Source (Rock Salt, Natural Brine), Manufacturing Process (Conventional Mining, Vacuum Evaporation, Solar Evaporation), Application (Chemical Processing, De-Icing, Water Treatment, Oil & Gas), and Region

Industrial salts are salts specifically designed and manufactured for use in industrial applications. They are typically highly refined, free-flowing and have low moisture, which makes them ideal for use in industrial processes. Common industrial uses of salts include water softening, de-icing, food preservation, metal finishing, and corrosion control. The growth is mainly driven by increasing demand from the food & beverage industry and water treatment industry. The demand for industrial salts is also driven by its use in various industrial applications such as glass manufacturing, soap and detergent production, and in the manufacturing of other chemicals.

The industrial salts market was valued at USD 12.70 billion in 2016 and is projected to reach USD 14.93 billion by 2022, at a CAGR of 2.8% from 2017 to 2022. The growth of the chlor-alkali industry is driving the growth of the industrial salts market in the chemical processing application. The growing use of industrial salts for de-icing and water treatment applications is expected to further fuel the growth of the market across the globe. Agriculture and oil & gas are the key application sectors of industrial salts.

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The rock salt segment is expected to lead the industrial salt market during the forecast period due to its wide usage in the manufacturing of food, animal feed, and chemicals. It is also used for de-icing roads and highways, providing traction on icy roads, and for food preservation. Rock salt is also used in the production of soaps, detergents, and chlorine. In addition, it is also used in the production of synthetic rubber and as an abrasive in metal processing. The increasing demand for these applications is expected to drive the growth of the rock salt segment in the industrial salt market.

The rise in the demand for industrial salt from the chemical processing application is attributed to its usage in the manufacturing of fertilizers, plastics, detergents, and other industrial chemicals. Industrial salt is a key ingredient used in the manufacturing of soaps, detergents, and other cleaning products. It helps to reduce the surface tension of water and increase the cleaning power of soaps and detergents. Industrial salt is also used in the production of plastics, as it helps to improve the flow characteristics of plastic compounds. It also helps to reduce the viscosity of the plastic compounds and make them more malleable and durable. Furthermore, industrial salt is used in the manufacturing of fertilizers and other agricultural products, as it helps to improve crop yields and increase productivity.

The Asia Pacific region is expected to witness the highest growth in the industrial salt market during the forecast period. This is attributed to the growing demand for industrial salt from various industries such as food processing, pharmaceuticals, and chemicals, as well as the increasing awareness of the benefits of salt in water treatment. Moreover, the increasing demand for iodized salt in the food industry is expected to boost the market growth over the forecast period. The growing demand for industrial salt from countries such as China, India, and Japan is also expected to drive regional market growth. Furthermore, the increasing government initiatives to promote the use of salt in water treatment is expected to fuel the regional market growth.

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Companies in the industrial salts market adopted various strategies to enhance their presence between July 2012 and June 2017. Expansions accounted for a major share of all the growth strategies adopted by the leading players in the industrial salts market between July 2012 and June 2017. K+S AG (Germany), Cargill, Inc. (US), Compass Minerals America Inc. (US), China National Salt Industry Co. (China), Tata Chemicals Ltd. (India), Mitsui & Co. Ltd. (Japan), Rio Tinto Group (UK), COMPAGNIE DES SALINS DU MIDI ET SALINES DE L’EST (France), Dominion Salt Ltd. (New Zealand), and Exportadora de Sal de C.V. (Mexico) are some the leading players operating in the industrial salts market.

Besides expansions, new product launches, agreements, and mergers were other key strategies adopted by the leading players to enhance their market shares and strengthen their presence in the industrial salts market between July 2012 and June 2017.

K+S AG is one of the leading manufacturers of industrial salts, globally. The company carries out its business operations through its potash & magnesium products and salt business segments. In May 2016, K+S AG (Germany) launched its solar salt project in Australia. The annual production capacity of the plant is expected to be 3.5 million tons. This expansion is expected to help the company increase its presence in Asia Pacific.

Compass Minerals International Inc. is also one of the key manufacturers of industrial salts. Founded in the year 2001, the company carries out its business operations through its two business segments, namely, salt and plant nutrients. The salt segment was a key business segment of the company in terms of revenue generation in 2016. The company has its salt business across North America, South America, and Europe. In October 2016, Compass Minerals International Inc. (US) completed the acquisition of Produquímica Indústria e Comércio S.A., a Brazil-based manufacturer and distributor of salts, minerals, and agricultural nutrients. Compass Minerals previously held 35% stake in the company and completed the acquisition by acquiring the remaining shares. The acquisition has helped the Compass Minerals to expand its salt business.

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