Market Size of Sodium Chloride Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sodium Chloride Market Analysis
The sodium chloride market was estimated at over 250,000 kilotons in 2022, and the market is projected to register a CAGR of over 5% during the forecast period.
The COVID-19 outbreak in 2020 had a detrimental influence on the market due to the temporary halt in construction operations and the worldwide shutdown of chemical manufacturing facilities. However, the market picked up and is expected to follow a similar projection in the forecast period.
- The increasing demand for sodium chloride as a chemical agent from the chemical sector and the increasing demand for pharmaceutical-grade sodium chloride in North America and Europe are expected to fuel the market expansion.
- However, the emergence of numerous alternative chemicals with improved properties that can be utilized as preservatives and deicing agents, on the other hand, may stifle market growth.
- The increasing usage of sodium-based batteries and the increasing production of Chlor-alkali products is expected to offer various opportunities for future market growth.
- While Asia-Pacific dominates the market, North America is predicted to develop quickly throughout the forecast period.
