Industrial Salts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Industrial Salts Market is segmented by Source (Rock Salt and Natural Brine), Manufacturing Process (Solar Evaporation, Vacuum Evaporation, and Conventional Mining), Application (Chemical Processing, Water Treatment, De-icing, Agriculture, Oil and Gas, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for industrial salts in volume (kilotons) for all the above segments.

Industrial Salts Market Snapshot

Industrial Salts Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >2 %

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Market Overview

The Global Industrial Salts Market is projected to register a CAGR of over 2% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Industrial salts are used to produce chemicals like chlorine and caustic soda. Owing to the pandemic scenario, the chemical manufacturing units were on a temporary halt during the government-imposed lockdown, thus leading to a decrease in the demand for raw material needed in chemical processing. Furthermore, industrial salts are also consumed in paper manufacturing. According to the CONFEDERATION OF EUROPEAN PAPER INDUSTRIES (CEPA), the paper and board production by Cepi member countries decreased by 5% in 2020 compared to the previous year, mainly due to global demand impacted by the COVID-19 pandemic, which in turn negatively impacts the demand for the studied market. However, the usage of soaps and detergents that use industrial salts as a raw material during production has significantly increased during this situation, considering the personal hygiene and clean surrounding, which in turn stimulates the demand for the industrial salts market.

  • Over the short term, the increasing demand for industrial salts for chemical processing and water treatment applications is expected to drive the market's growth.
  • On the flip side, strict regulations imposed by the environmental protection agency (EPA) are expected to hinder the growth of the market.
  • By application, the chemical processing segment is expected to dominate the market, owing to the increasing usage in manufacturing soda ash, caustic soda, and chlorine.
  • The Asia-Pacific region dominated the market across the world, with the largest consumption from countries such as China and India.

Scope of the Report

Industrial salts are mainly consumed by the chemical industry to produce caustic soda and other chloralkali products and are also used in the manufacturing of polyester, glass, paper, tires, brass bleach, as well as used to set dye in the fabric. Industrial salts are available in various levels of purity, depending on the applications. The industrial salts market is segmented by Source, Manufacturing Process, Application, and Geography. By Source, the market is segmented into Rock Salt and Natural Brine. By Manufacturing Process, the market is segmented into Solar Evaporation, Vacuum Evaporation, and Conventional Mining. By Application, the market is segmented into Chemical Processing, Water Treatment, De-icing, Agriculture, Oil and Gas, and Other Applications. The report also covers the market size and forecasts for the industrial salts market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).

Source
Rock Salt
Natural Brine
Manufacturing Process
Solar Evaporation
Vacuum Evaporation
Conventional Mining
Application
Chemical Processing
Water Treatment
De-icing
Agriculture
Food Processing
Oil and Gas
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from Chemicals Processing Application

  • Industrial salts are manufactured from rock salt or natural brine by conventional mining, solar evaporation, and vacuum evaporation.
  • Chemical processing applications account for over 50% of the total industrial salts demand. Industrial salts are widely used for manufacturing chlorine, soda ash, and caustic soda, owing to their availability in large quantities and cost-effectiveness.
  • Due to the lack of cost-effective substitutes, industrial salts are actively used in the chloralkali process to manufacture products such as ethylene dichloride, which is stimulating the demand for industrial salts.
  • According to the American Chemistry Council, the annual production growth of the chemical industry in the United States is likely to rise by about 12.3% in 2021 compared to the previous year. The total chemical capital expenditure is likely to rise to USD 33.5 billion by 2021, with a growth rate of 15.7% compared to the previous year, which in turn is expected to stimulate the market demand for industrial salts.
  • Industrial salts are used in the production of plastics, including polyvinyl chloride, soaps, detergents, herbicides, and pesticides. It is also used in the production of inorganic chemicals like titanium dioxide, enhancing the growth of the industrial salts market.
  • The laundry care segment also consumes industrial salts for manufacturing detergents, soaps, and other laundry care products. The US laundry care market was valued at about USD 12.8 billion in 2019 and reached about USD 13.1 billion in 2020, with a growth rate of about 2%, stimulating the demand for the studied market.
  • Therefore, the aforementioned factors are expected to significantly impact the market in the coming years.
Industrial Salts Market Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for industrial salts during the forecast period, owing to the growing industrialization in the region. In countries like China, India, and Japan, due to the usage of industrial salts in the chemicals processing industry, the demand for industrial salts has been increasing.
  • The Japanese chemical industry was valued at about USD 200 billion in 2019, with a growth rate of about 2.5% compared to the previous year, which in turn stimulates the market demand for industrial salts.
  • Industrial salts are widely used for de-icing for clearing roadways in countries with heavy snowfall. De-icing property of industrial salts also helps to delay the reformation of ice for a certain period of time.
  • In water treatment plants, industrial salts are used for the water softening and purification process. In countries like India and China, many water treatment projects are being constructed, which is likely to help stimulate the growth of industrial salts over the forecast period.
  • The plastic segment uses industrial salts to produce polyvinyl chloride (PVC), which are widely used in the construction industry for different applications, including piping, PVC boards, and others. China was leading the construction industry with market size of USD 1,092.9 billion in 2019, registering a growth rate of 14.71% compared to the previous year.
  • Furthermore, the total new construction in Japan accounted for about 127.55 million sq. m in 2019 and reached about 113.74 million sq. m in 2020, with a decline rate of about 10.5%. This led to a decrease in consumption of PVC-made construction materials, in turn stimulating the demand for the industrial salts market.
  • Some major companies operating in the Asia-Pacific region include Cargill Incorporated, K+S Aktiengesellschaft, and Tata Chemicals Ltd.
  • Therefore, the aforementioned factors are expected to significantly impact the market in the coming years.
Industrial Salts Market Growth Rate By Region

Competitive Landscape

The industrial salts market is fragmented, with the top five players accounting for a marginal share of the market. Some key players in the market include Cargill Incorporated, K+S Aktiengesellschaft, Tata Chemicals Ltd, INEOS, and Nouryon.

Recent Developments

  • In January 2021, Tata Chemicals Ltd intended to acquire the industrial salt unit with an annual production capacity of 3 million tons of Archean Group, which would enhance the company's business.
  • In June 2018, Ajax Equipment supplied a new salt handling system to optimize salt tablet production at the Runcorn facility of INEOS, comprising two screw conveyors and a screw feeder. INEOS Salt produces up to 500 kilotons of salt annually, including food salts, water softening tablets, animal feed, industrial and chemical, and de-icing salts.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand in Chemical Processing

      2. 4.1.2 Growing Demand from Water Treatment

    2. 4.2 Restraints

      1. 4.2.1 Stringent Government Regulations

      2. 4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Source

      1. 5.1.1 Rock Salt

      2. 5.1.2 Natural Brine

    2. 5.2 Manufacturing Process

      1. 5.2.1 Solar Evaporation

      2. 5.2.2 Vacuum Evaporation

      3. 5.2.3 Conventional Mining

    3. 5.3 Application

      1. 5.3.1 Chemical Processing

      2. 5.3.2 Water Treatment

      3. 5.3.3 De-icing

      4. 5.3.4 Agriculture

      5. 5.3.5 Food Processing

      6. 5.3.6 Oil and Gas

      7. 5.3.7 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Archean Group

      2. 6.4.2 Cargill Incorporated

      3. 6.4.3 Compass Minerals

      4. 6.4.4 Delmon Group of Companies

      5. 6.4.5 Dominion Salt Limited

      6. 6.4.6 Donald Brown Group

      7. 6.4.7 Exportadora de Sal de CV

      8. 6.4.8 INEOS

      9. 6.4.9 K+S Aktiengesellschaft

      10. 6.4.10 MITSUI & CO. LTD

      11. 6.4.11 Morton Salt Inc.

      12. 6.4.12 Nouryon

      13. 6.4.13 Rio Tinto

      14. 6.4.14 Salins IAA

      15. 6.4.15 Tata Chemicals Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Technological Advancements to Produce High Purity Salts

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Industrial Salts Market market is studied from 2016 - 2026.

The Industrial Salts Market is growing at a CAGR of >2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Cargill, Incorporated, K+S Aktiengesellschaft, Tata Chemicals Ltd., INEOS, Nouryon are the major companies operating in Industrial Salts Market.

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