Industrial Salt Market Insights
The global industrial salt market has witnessed moderate growth at a CAGR of 2.8% over the past half-decade. At present, owing to the ongoing outbreak of COVID-19, the oil & gas industry has put the brakes on production to some extent, and this has created a domino effect that has negatively affected the growth of the industrial salt market.
However, the market has restarted and picked up pace in regions such as Europe and East Asia, but the demand for industrial salt has not gained significant pace. On the brighter side, the market is set to reach its original pace by the 3rd quarter of 2021, with global demand set to witness an uptake at a CAGR of 4% during the forecast period (2020-2030).
Credit for the expansion of the industrial salt market size goes to sectors such as oil & gas, which has captured more than 40% of the industrial salt market share. Apart from oil & gas application of industrial salt, water treatment and chemical processing have a major impact on the industrial salt market, owing to rise in water security policies and soda ash & caustic soda production, respectively.
Industrial Salt Market Analysis by Grade
Of the two major grades of industrial salt, Grade-I and Grade-II, Grade-I accounts for more than three-fourth of the market share, owing to its utilization in significant amounts in the oil & gas industry. Grade-I is used particularly in oil & gas applications owing to high NaCl content and low sulphur content, which saves around 5-8% of processing cost for oil & gas extractors. These factors play a major role in prominence of Grade-I industrial salt.
Grade-I is expensive by around 4-5% as compared to Grade-II; hence, manufacturers in chemical processing, water treatment, and deicing prefer utilizing Grade-II industrial salt. This grade accounts for less than one-third of the market share, but holds immense potential for market growth.
Know More Details About the Report
Industrial Salt Market Insights by Application
Industrial salt sees significant consumption in the oil & gas industry, especially from the drilling and extraction sector, which has provided stimulus to the market over the historical period. Moreover, expanding soda ash and caustic soda production has spiked the demand for industrial salt. Furthermore, it is used in small amounts in the pharmaceutical industry, cloud seeding, and other niche applications.
These aforementioned factors are set to boost the growth of the industrial salt market in the mid-term forecast period. Traditional application-based industries such as oil & gas and chemical processing will remain key growth areas for the industrial salt market.
Regional Outlook of Industrial Salt Market
East Asia accounted for the largest industrial salt market share in 2019. This trend is anticipated to continue throughout the forecast period. Currently, Europe accounts for more than one-fifth of industrial salt demand. Consumption of industrial salt in Europe is mainly backed by increasing demand from growing oil & gas and de-icing industries, which is majorly generated from Western European and CIS countries.
The industrial salt market was the fastest growing in Latin America during the historical period. This is attributed to increasing consumption in the oil & gas industry. Followed by the market in South Asia & Oceania, East Asia grew at around 4.5% CAGR during the historical period.
However, a shift in stance of major countries such as European Union nations and the U.S. against China is set to decline the overall market of industrial salt in the region, as a majority of the market share is held by China. Decline in production is set to raise prices by 2-3% during the mid-term forecast period.
Avail customized purchase options for your needs
Global Industrial Salt Market Manufacturers’ Key Strategies
The global industrial salt market is highly fragmented in nature. AkzoNobel N.V, K+S AG, Sojitz, Mitsui, and Cargill are the key market players in tier-1, accounting for more than 20% of the global supply. The market has high entry barriers, owing to economies of scale and price positioning for new entrants with lower leverage.
COVID-19 Impact on Industrial Salt Market
The coronavirus pandemic has brought the whole world to a standstill. Business activities have registered a downturn in the form of dwindling sales due to reduced production and demand. The same is true for the industrial salt market. As already mentioned, one of the prominent industrial salt uses is oil & gas. The ongoing pandemic has led to a decline in all industrial activities, in the wake of disrupted supply chains.
Extended lockdowns across various countries have stunted the production of industrial salt over the past few months, as key manufacturing units and factories are shut. Even after these lockdowns are lifted, it will take at least a couple of months to restore production to normal. Thus, contracting demand from allied industries in the second quarter of 2020 will have a prolonged effect on the growth of the global industrial salt market.
An Adaptive Approach to Modern-day Research Needs
The Analyst’s Viewpoint
“The industrial salt market is a highly competitive market space, with oil & gas applications set to rule the space through 2030.”
Industrial Salt Market: About the Report
Fact.MR has published an exclusive forecast report on the industrial salt market for 2020 and 2030. The foremost objective of this report on the industrial salt market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the industrial salt market. Also, the study on the industrial salt market addresses key dynamics that are expected to diversify the sales and future prominence of industrial salt.
The report on the industrial salt market begins with an executive overview, in which, product definition has been provided. The report further proceeds with a taxonomy of the industrial salt market, elaborating on key segments. The report also outlines visionary insights on the dynamics of the industrial salt market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for industrial salt.
Supply chain analysis and pricing analysis of the industrial salt market along with the difference between industrial salt used as per application have also been included in the report to help readers clearly understand the product framework map of the industrial salt market space.
Have a report related query? Speak to us directly
Industrial Salt Market Segmentation
Fact.MR has studied the industrial salt market with a detailed segmentation on the basis of grade, source, production process, application, and region.
- Rock Salt
- Natural Brine
- Conventional Mining
- Solar Evaporation
- Vacuum Evaporation
- Chemical Processing
- Caustic Soda
- Soda Ash
- Power Industry
- Oil & Gas Industry
- Water Treatment Industry
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Asia
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized d and prohibited.”
Industrial Salt Market- Scope of the Report
A recent study by Fact.MR on the industrial salt market offers a 10-year forecast for 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of the industrial salt market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of industrial salt. The study also provides the dynamics that are responsible for influencing the future status of the industrial salt market over the forecast period.
A detailed assessment of the industrial salt market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the industrial salt market along with their product portfolio enhances the reliability of this comprehensive research study.
Industrial Salt Market: Report Summary
The study offers a comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the industrial salt market across the globe.
A comprehensive estimate on the industrial salt market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of industrial salt during the forecast period. Price point comparison by region with global average price is also considered in the study.
Industrial Salt Market: Analysis on Market Size Evaluation
The industrial salt market has been analyzed for each market segment in terms of volume (kilo tons) and value (US$ Bn).
Market estimates at global and regional levels for industrial salt are available in terms of “US$ Bn” for value and in “kilo tons” for volume. A Y-o-Y growth contrast on prominent industrial salt market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global Industrial salt market.
Industrial Salt Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the industrial salt market report, which have helped deliver projections on regional markets. These chapters include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of industrial salt market during the forecast period.
Country-specific valuation on demand for industrial salt has been offered for each regional market, along with market scope estimate sand forecasts, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Industrial Salt Market: In-Depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of industrial salt, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of industrial salt has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolio, key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting market status and predicting the competition level in the industrial salt market. Prominent companies operating in the global industrial salt market 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, Infosa, and others.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
The Rise of Intelligent Packaging
Personalized, Connected and Sustainable
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.