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Industrial Salt Market

Industrial Salt Market

Industrial Salt Market Segmentation by Grade (Grade-I Industrial Salt, Grade-II Industrial Salt), by Source (Rock Salt, Natural Brine), by Production Process (Conventional Mining, Solar Evaporation), by Application (Chemical Processing, Oil & Gas, De-icing) & Regional Forecast to 2031

Industrial Salt Market

Industrial Salt Market Outlook

The industrial salt market stood at US$ 13.1 Bn in 2020, accounting for around 45% of the global salt market revenue share. Owing to multiple end uses, industrial salt demand is projected to increase at around 4% CAGR through 2031.

Market growth is mainly attributed increased application of industrial salt such as in chemical processing, caustic soda, soda ash, water treatment, de-Icing, and many more. Global consumption of industrial salt is poised to increase to 455 KT by 2031.

Attribute Details
Industrial Salt Market Size (2020) US$ 13.1 Bn
Market Forecasted Value (2031) US$ 20.3 Bn
Global Market Growth Rate (2021 to 2031) 4% CAGR
Market Share of Top 5 Companies >20%

Consumption Analysis of Industrial Salt from 2016 to 2020 Vs Market Outlook for 2021 to 2031

From 2016 to 2020, global industrial salt sales increased at a CAGR of 2.8% and was valued at US$ 13.1 Bn in 2020, of which, the oil & gas industry held a prominent share of over 45%. This was owing to the fact that industrial salt is used for drilling natural minerals such as natural gas and crude oil extensively in the oil & gas industry.

However, the market faced a considerable blow due to COVID-19, as the oil & gas industry put the brakes on production, creating a domino effect that negatively affected growth of the industrial salt industry.

The market restarted and picked up pace in Europe and East Asia, though now substantially. On a brighter side, the market is set to reach its original growth pace at the end of 2021, with global demand set to witness an uptake at a CAGR of 4% during 2021-2031.

  • Rock salt holds 14% market share for industrial salt across the globe.
  • Application of industrial salt in pharmaceutical industry is anticipated to rise at a steady pace of 2.9% over the forecast period.
  • China remained the centre of attraction for industrial salt manufacturers, with the country accounting for around 46% market share in 2020.
  • Application of industrial salt in the oil & gas industry is anticipated to increase at a CAGR 4.1% through 2031.

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What are the Prominent Driving Factors for Industrial Salt Sales?

Industrial salt market value is estimated to reach US$ 20.3 Bn by 2031, rising at a CAGR of 4% over the forecast period. Credit for expansion of market size goes to the oil & gas sector, which has captured more than 40% market share. Apart from oil & gas application of industrial salt, water treatment and chemical processing have a major impact on the market, owing to rise in water security policies and increased soda ash & caustic soda production.

Owing to this, industrial salt finds a wide range of application in many industries, which is expected to be an important driving factor for industrial salt consumption.

Industrial salt market absolute and opportunity analysis by Fact.MR

Country-wise Analysis

Why is the China Market for Industrial Salt Significant?

Over the past half-decade the China market for industrial salt expanded at a CAGR of 2% creating an absolute $ opportunity of US$ 1.6 Bn. China is one of the prominent markets for industrial salt and holds a significant share in the East Asia region, accounting for 46.1% market share in 2020.

Most of the industrial salt produced in China is in close proximity to sea coasts, and thus, near harbours. This aids the country in reducing overall cost of production and ultimately making the price of the product considerably low.

The market in China is projected to expand at a CAGR of round 3.4% over the decade.

How is the USA Industrial Salt Market Fating?

The U.S. accounted for 64% market share in 2020 in North America. The United States has a well-established market owing to high demand for industrial salt from the laundry care business, which uses it to create soaps, detergents, and other laundry care products. The U.S. laundry care market was valued at over US$ 13.1 Bn in 2020, indicating that demand from the sector will keep increasing.

In terms of value, the market in the U.S. is anticipated to expand at a CAGR of 3.9% through 2031.

An Adaptive Approach to Modern-day Research Needs

Category-wise Analysis

Which Grade of Industrial salt is Triggering Most Demand?

Of the two major grades of industrial salt - grade-i and grade-II - grade-i accounts for more than 3/4 market share, owing to its utilization in significant amounts in the oil & gas industry. Grade-I industrial salt is used particularly in the oil & gas applications owing to high NaCl content and low sulphur content, which saves around 5%-8% of processing cost in oil & gas extraction.

However, grade-I is around 4X to 5X expensive as compared to grade-II; hence, manufacturers in chemical processing, water treatment, and de-icing prefer utilizing grade-II industrial salt.

Why is Industrial Salt Highly Required in the Drilling & Extraction Sector?

Industrial salt sees significant application in the oil & gas industry, especially from the drilling and extraction sector, which has provided stimulus to the market over the historical period, expanding at a CAGR of 2.9%.

Moreover, expanding soda ash and caustic soda production has spiked demand for industrial salt. Furthermore, it is used in small amounts in the pharmaceutical industry, cloud seeding, and other niche applications.

Industrial salt market competition analysis by Fact.MR

Competitive landscape

Top manufacturers of industrial salt include AkzoNobel N.V, K+S AG, Sojitz, Mitsui Chemicals, Cargill, Arytomsol, Ciech S.A, Tata Chemicals, Swiss Salt Works AG, CK Life Sciences International, Compass Minerals International Inc., and Infosa.

All these manufacturers are focussed on gaining maximum market attraction, delivery, portfolio expansion, and brand development.

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Report Scope

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis Value in US$ Bn, Volume in KT
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Asia
Key Countries Covered
  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Rest of LA
  • Germany
  • Italy
  • France
  • U.K.
  • Spain
  • Benelux
  • Russia
  • Rest of Europe
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia & New Zealand
  • GCC Countries
  • Turkey
  • South Africa
  • Rest of Middle East and Africa
Key Market Segments Covered
  • By Grade
  • By Source
  • By production Process
  • By Application
  • Region
Key Companies Profiled
  • American Elements
  • Amra Salt Co.
  • Atisale S.P.A.
  • Cargill, Inc. 
  • Ciech S.A. 
  • CK Life Sciences International Holdings Inc.
  • Compass Minerals International Inc.
  • Dev Salt Pvt. Ltd.
  • Dominion Salt Ltd
  • Ineos Group
  • Infosa
  • Irish Salt Mining & Exploration Co. Ltd. (I.S.M.E. Co. Ltd.)
  • Italkali Societa Italiana Sali Alcalini S.P.A
  • K + S AG
  • Mitsui Co. Ltd.
  • Naikai Salt Industries Co. Ltd.
  • Salins Group
  • State Enterprise Arytomsol
  • Swiss Saltworks AG
  • Tata Chemicals Ltd.
  • Wacker Chemie AG
  • Wilson Salt Company
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Key Segments of Industrial Salt Industry Research

  • By Grade

    • Grade-I Industrial Salt
    • Grade-II Industrial Salt
    • Others
  • By Source

    • Rock Salt
    • Natural Brine
  • By Production Process

    • Conventional Mining
    • Solar Evaporation
    • Vacuum Evaporation
  • By Application

    • Industrial Salt for Chemical Processing
      • Caustic Soda
      • Soda Ash
      • Industrial Salt for Power Industry
      • Industrial Salt for Oil & Gas Industry
      • Industrial Salt for Water Treatment Industry
      • Industrial Salt for De-Icing
      • Others

- FAQs -

In 2020, total consumption of industrial salt was 333.8 KT.

Growth rate of industrial salt is projected at a CAGR of over 4.0% during 2021 – 2031.

Sales performance of industrial salt increased at a CAGR of 2.8% during 2016 – 2020.

Increasing investments in the power and energy sector have paved the way for industrial salt demand growth. Moreover, water treatment projects have surged demand for water-softening chemicals such as industrial salt.

Use in booming industries such as pharmaceuticals and oil & gas act as driving factors for the sale of industrial salt.

Top manufacturers of industrial salt are AkzoNobel N.V, K+S AG, Sojitz, Mitsui Chemicals, Cargill, Arytomsol, Ciech S.A, Tata Chemicals, Swiss Salt Works AG, CK Life Sciences International, Compass Minerals International Inc., and Infosa.

Top 5 countries/regions driving demand for industrial salt are the U.S., South Korea, China, GCC countries, and Germany.

North America accounted for nearly 39% global market share in 2020.

The European market for industrial salt is projected to expand at a CAGR of 2.7% during 2021 – 2031.

China and Japan cumulatively account for 72.4% share in the South Asia & Oceania market.

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