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Sodium Chloride (NaCl) Market

Sodium Chloride (NaCl) Market

Sodium Chloride (NaCl) Market Analysis By Type (Rock Salt, Solar Salt &Others) By Application (Chemical Intermediates, De-icing Flavoring Agents & Food Preservatives, Water Treatment & Agriculture) By Region – Global Market Insights 2022 to 2032

Sodium Chloride (NaCl) Market
FACT7450MR

Sodium Chloride (NaCl) Market Outlook (2022-2032)

The global sodium chloride (NaCl) market was valued at US$ 17.35 billion at the end of 2021 and is projected to reach US$ 24.73 billion by 2032, registering a CAGR of 3.4% from 2022 to 2032.

Demand for rock salt is projected to increase at a CAGR of 3.7% from 2022 to 2032. Because solar salt is more expensive than rock salt, manufacturers choose to use rock salt to make sodium chloride. As a result, the production of sodium chloride from rock salt is predicted to rise over the coming years.

Report Attributes

Details

Sodium Chloride Market Size (2022)

US$ 17.77 Billion

Projected Market Value (2032)

US$ 24.73 Billion

Global Market Growth Rate (2022-2032)

3.4% CAGR

Europe Market Share (2022)

26.5%

Key Companies Profiled

  • Cargill Incorporated.
  • Akzo Nobel N.V.
  • Compass Minerals
  • INEOS
  • Nouryon
  • Rio Tinto
  • Tata Chemicals Europe
  • Wacker Chemie AG

The chemical formula for sodium chloride, also known as salt, is NaCl. It is a white, crystalline, ionic substance produced from sodium and chloride. It is the source of seawater's salty flavor and is mostly produced from seawater.

Sodium bicarbonate is a salt that dissolves in water to produce sodium and bicarbonate. Ammonium chloride is a completely soluble white crystalline salt used in fertilisers and artificial flavors. The rapid growth in the chemical industry has increased the demand for chlor-alkali goods.

Because salt is widely available and affordable, it is employed as a key source of chlorine and sodium hydroxide. Pickles and processed meats include a lot of salt as a preservative. Ions in salt inhibit the growth of fungus, allowing pickles and processed meat to be stored for extended periods.

Rising adoption of sodium chloride for food processing, increasing usage of sodium sulfide in water treatment, and increased consumption of processed foods are the factors driving the sodium chloride market.

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Consumption Analysis of Sodium Chloride (2017-2021) Vs Market Outlook (2022-2032)

As per Fact.MR, a market research and competitive intelligence provider, from 2017 to 2021, the global sodium chloride market experienced a CAGR of around 2.6%.

Sodium chloride is mostly used in the chemical and food and beverage sectors. Animal feed and agrochemicals both employ sodium chloride. Industrial salts are more cost-effective than natural salts, which has an impact on the salt market growth.

Along with rock salt and solar salt, there are various other types of sodium chloride such as aqueous sodium chloride, molten sodium chloride, solid sodium chloride, sodium potassium chloride, sodium chloride liquid, sodium chloride acid, and fused sodium chloride. Sodium chloride is also being more widely used in several end-use industries.

Rapid deployment of sodium chloride for water conditioning, as well as growing adoption from various cold regions to avoid ice formation on roads and pavements due to salt's ability to lower the freezing point of water, will boost the market growth.

These factors are expected to drive the global sodium chloride market at 3.4% CAGR from 2022 to 2032.

Sodium chloride nacl market forecast by Fact.MR

Why is Demand for Sodium Chloride Slated to Increase Steadily?

“Increasing Focus on Product Innovation Driving Sodium Chloride Market Growth”

Extensive research has been done to better understand the chemistry of sodium chloride. This has opened up some interesting possibilities in the sodium chloride business. Researchers exploring new materials to use in drug development have discovered that the chemical has a lot of promise.

Some of the significant breakthroughs gained in the production of sodium hydroxide have recently benefited sodium chloride manufacturers. The discovery of new metallic element chemistries has stimulated research in this area. In addition, research into the geochemistry of mineral deposits may be able to assist manufacturers and producers in generating new revenue streams over the coming years.

Key manufacturers are focused on product innovation and health-enhancement products to address the growing market demand.

For instance,

  • In May 2020, Phyto Corporation, a Korean developer of plant-based products, introduced a plant-based salt, PhytoSalt.

PhytoSalt is a salt product designed for consumers' wellness. It reduces sodium levels in food by 20% and has been shown to lower blood pressure. There are no microplastics in the substance, and it contains sodium chloride, potassium chloride, magnesium chloride, and calcium chloride, as well as glutamic acid, which acts as a natural enhancer.

Such initiatives by prominent companies are expected to pave the way for market expansion over the coming years.

How Can Sales of Sodium Chloride Get Adversely Affected?

“Availability of Alternative Products and Storage Issues Restraining Market Growth”

The industry is projected to be hampered by the introduction of numerous alternative compounds such as low sodium sea salt with improved qualities for use as preservatives and de-icing agents.

Rising health consciousness, combined with dieticians' and doctors' advice to individuals to consume a balanced amount of salt, storage issues for sodium chloride, and a low-profit margin are all possible restrictions on the total industry.

An Adaptive Approach to Modern-day Research Needs

Which Region is Set to Be the Most Attractive Market for Sodium Chloride Manufacturers?

“Rising Need for De-icing Applications Driving Market Growth in North America”

North America accounts for 31.4% share of the global NaCl market. Due to the existence of rising economies and the rise of the chemical and food & beverage sectors, the market in North America is likely to expand during the forecast period.

The strong need for de-icing applications, rising sales of pharmaceutical grade sodium chloride, and the resulting growth in demand for feedstock chemicals are driving the market growth in North America.

Country-wise Insights

Why is Demand for Sodium Chloride High in the United States?

“Growing Demand for Processed & Packaged Food in the U.S.”

The U.S. NaCl market is projected to expand at a CAGR of 3.3% from 2022 to 2032. In the United States, increased disposable income, urbanization, and the growing hospitality industry are driving market expansion.

The relatively larger demand for processed and packaged food in the United States will continue to be a primary element driving growth. Moreover, changing lifestyles, rising adoption of sodium chloride for chemical production, and growing usage of food-grade sodium chloride are driving the market growth in the U.S.

Will China Be a Prominent Market for the Sales of Sodium Chloride?

“Increasing Investments in Salt Product Development in China”

The market in China is expected to rise at a CAGR of 3.5% over the forecast period. China is a chemical processing powerhouse, producing the vast majority of chemicals.

Established healthcare infrastructure and continuous investments in salt product development for low sodium snacks are the factors expected to boost the market expansion over the forecast period.

Can Sodium Chloride Manufacturers Benefit in the Indian Market?

“Rapid Deployment of Pharmaceutical Grade Sodium Chloride in Several Industries in India”

The India sodium chloride market is expected to reach a valuation of US$ 1.92 billion by 2032. Increasing demand for sodium chloride in the manufacturing of chlorine gas, rubber, and paper is driving the market expansion.

Sodium chloride is widely available and cheap, and it's a key ingredient in the creation of sodium hydroxide and chlorine gas, which are used in sectors including plastics, textiles, chemicals, and agrochemicals to make paints and coatings, PVC, polymers, and animal feed.

Rapid deployment of pharmaceutical grade sodium chloride as an essential chemical in many end-user industries, such as pharmaceutical and biotechnology industries, is propelling the market forward. The market growth is additionally supported by abundant salt sources, increasing commercial prospects for sodium chloride producers and the availability of manpower.

Category-wise Insights

Which Sodium Chloride Type is Expected to Lead Revenue Generation?

“Rock Salt Gaining Traction Due to Growing Usage for Various Purposes

Based on the type, the market is segmented into rock salt and solar salt, and other types. Rock salt accounts for 61.6% share of the global NaCl market.

Because rock salt is mined organically, it is thought to be healthier. Because it contains minerals from the sea, sea salt has a saline flavor and a bit more complexity than rock salt. Ayurvedic medicine has long utilized rock salt to improve skin health and treat coughs, colds, and stomach ailments.

Rock salt is used for a variety of purposes, including deicing roads and sidewalks, as well as food preservation. Brines can be made with food-grade rock salt, which can also be used in salt grinders. They are preferred for deicing in Europe and North America because they are more cost-effective than other salt types.

Which Application of Sodium Chloride is Most Popular?

“Rapid Deployment of Sodium Chloride as Reagent in Chemical Intermediates

In terms of the application, the market is classified into chemical intermediates, de-icing, flavoring agents & food preservatives, water treatment, agriculture, and other applications. The chemical intermediates segment accounts for 24.7% share of the sodium chloride market, owing to the widespread use of sodium chloride as a raw material and chemical reagent.

NaCl is an important chemical in the chemical industry, and it's used to make sodium bicarbonate, caustic soda, and ammonium chloride. Sodium chloride is a key element in the production of a variety of chemicals, including organic and inorganic compounds, as well as chlorine, hydrogen, and sodium hydroxide solution.

Sodium chloride is widely utilized in the manufacture of chlorine gas, rubber, paper, and pulp. It's also the best place to get sodium hydroxide and chlorine gas, which are utilized in fabrics, polymers, chemicals, and herbicides & pesticides. These factors are expected to drive the demand for sodium chloride as a chemical agent over the coming years.

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Competitive Landscape

Key companies delivering cost-competitive raw materials control the sodium chloride market, which is moderately competitive. Sodium chloride suppliers are focused on product innovation to address the growing market demand.

For instance,

  • In May 2021, Sandhage claimed promising findings from the usage of super-hot sodium chloride as a solution to reduce the expenses of solar power solutions by enabling easier heat-to-electricity conversion at temperatures above 1,300 degrees Fahrenheit.

Key Segments Covered in NaCl Industry Research

  • NaCl Market by Type :

    • Rock Salt
    • Solar Salt
    • Other Types
  • NaCl Market by Application :

    • Chemical Intermediates
    • De-icing
    • Flavoring Agents & Food Preservatives
    • Water Treatment
    • Agriculture
    • Other Applications
  • NaCl Market by Region :

    • North America the
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global sodium chloride market was valued at US$ 17.35 billion at the end of 2021.
The Germany sodium chloride market is projected to rise at a CAGR of 4% over the decade.
The global sodium chloride market is set to reach a valuation of US$ 24.73 billion by the end of 2032.
Cargill Incorporated., Akzo Nobel N.V., Compass Minerals, INEOS, and Nouryon are the top sodium chloride suppliers.
The global market for sodium chloride is expected to rise at a CAGR of 3.4% from 2022 to 2032.
The U.S., Germany, Mexico, China, and Brazil account for the most consumption of sodium chloride.

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