Global Industrial Salts Market by Product (Vacuum Pan Salt, Salt in Brine, Rock Salt, Solar Salt), by Source (Brine, Salt Mines) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2016, the global industrial salts market was worth USD 12.98 billion. The forecast period will see growth due to rising demand in key industries such as highway deicing and oil & Gas industry.

This industry is expected to grow significantly due to its wide variety of uses, including for agriculture and deicing purposes. There are also indirect uses in the chemical processing industry that produce chlorine and caustic soda. Due to the inability to find an economic substitute, the major consumer of the product is the chlor-alkali industry in the chemical sector.

Vacuum pan technology, which is a technological innovation that produces high-purity salts, will drive the market growth. The technology is not widely adopted due to low-cost production methods such as solution mining, conventional mining and solar evaporation.

Nearly every country has a deposit or solar evaporation operation with different production capabilities. The majority of countries that are landlocked import the product. However, some countries in Africa have rock salt deposits to supply the product. In addition, growth is expected to be driven by the inability to find perfect substitutes.

The industry is regulated by regulations like the Mine Health and Safety Act, which regulates the safety and health of miners, and the Environmental Protection Agency (EPA), which enforces environmental protection regulations. Manufacturers must also comply with regulations regarding permits issued by the government, which are expected to limit growth.

In order to ensure reliable distribution at competitive terms and conditions, the supply chain management within the industry manages and monitors all channels. Major players in the industrial salts industry use a variety of transport options, including railway lines, waterways, as well as their own logistics services, to increase supply chain efficiency.

Source Insights

Brine is an important source of industrial salts because it is derived either from solution mining or large saline water bodies. Brine will be used in a variety of applications industries, as a result of the growing restrictions on mining. High demand for brine is due to its major use in chemical processing.

The processing cost of brine to make crystals is high due to the increased energy required to evaporate the brine. Additionally, vacuum pan boiling can result in high energy consumption and increased prices. This technology is therefore used for high-purity applications.

Salt mines hold a significant market share. They are expected to see growth due to increased consumption in the application industries. The demand for deicing products is expected to also be positive. However, there are several regulations that apply to mining activities which will limit growth.

Many approvals, licenses, permits and permits are required to obtain the product from the mines. This is expected to slow down growth. The operating rate of mine facilities fluctuates according to the demand for de-icing applications, which will slow down overall growth.

Product Insights

Brine, a concentrated saline solution that is high in concentration, is obtained from large bodies of water and the dissolution of mine deposits by solution mining. A significant portion of this product is used by chemical companies to produce chlorine and caustic soda. The USGS statistics show that brine was responsible for 38% of US consumption in 2016.

Due to its high demand for water-treatment and agricultural uses, solar salt is 40% of global production. It is expected to see the fastest growth. Market growth will be slowed by factors such as production cost, time, purity, harvesting based upon climatic conditions, and harvesting.

Rock salt demand is dependent on the winter weather conditions in cold regions. Deicing is the main application. The product's market growth will be driven by demand from other industries, such as agriculture and food processing.

Vacuum pan technology produces high-purity products such as pellet, mini cube and special purity salt. These products can be used in hospitals, food plants and the medical industry. Vacuum pan technology is expected to experience strong growth. This will be supported by increased penetration in the chemical- and food processing industries.

Application Insights

The forecast period will see an increase in demand for the product in agricultural products, chemical processing, deicing, water treatment and oil & gas. The product is expected to see a rise in demand in chemical processing and in chlor alkali applications, especially in China and India.

In 2016, the chemical industry accounted to more than half of global consumption. The product is available in many grades, including brine, rock, and high purity. Major chemical companies prefer artificial brine that is high in purity for captive consumption using the solution mining technique.

Because of its low cost and abundant supply, de-icing is second in popularity. This application is mainly done with rock salt, which does not need any sort of purification. The effectiveness of brine in road deicing has increased over the years due to its lower temperature (i.e. below 25 ^orF).

The market is expected to grow due to rising demand from water treatment applications in developing countries. Market growth in water treatment is expected to be supported by rising industrialization, higher water quality standards, more complex manufacturing processes, better access to safe drinking waters, and improved sanitation facilities.

Regional Insights

The largest revenue share was shared by the U.S. and China in 2016. China's production has increased due to rising demand. It is projected to grow at 2.7% during the forecast period. Consumption is expected to rise due to the increasing industrialization in Asia Pacific, and the rising demand in the chemical industries for the product.

Due to the widespread use of de-icing in extreme conditions, North America's market is expected to grow. Due to growing product demand in chemical processing and highway deicing, 16.4% of global consumption was accounted for by the U.S. market in 2016.

The region of Central and South America is rich with natural resources, which have high production capabilities. Brazil and Chile are the dominant producers and consuming countries in the region. They export a lot of the product to North America, Europe and North America. The region's growing interest in the product for agricultural purposes is expected to lead to increased captive consumption.

Markets in the Middle East and Africa are expected to experience 3.3% growth over the forecast period. This is due to the increase in demand in the region from industrial diversification, especially the expansion of chemical production capacities and chemical processing capabilities.

Insight into the Industrial Salts Market

K+S Group is one of the established players that benefits from the proximity to production sites in Europe, North & South America. Global players are able to respond to weather-dependent deicing demand more quickly than local competitors, which ensures reliable supply to customers.

Companies in this industry are very competitive. They compete on the basis the quality of their product and regional expansion. Morton Salt and Compass Mineral are established players in the industry and compete for regional expansion. They place a strong emphasis on high-margin sectors such as food processing and pharmaceuticals.

Industrial Salts Market Report Scope

The report covers segments

This report predicts revenue growth at the global, regional and country levels. It also analyzes the industry trends for each sub-segment from 2014 through 2025. Grand View Research has divided the global industrial salts market by source, product, region, and application.

• Source Outlook (Volume of Million Tons, Revenue USD Million, 2014-2025)

  • Brine

  • Salt mines

• Product Outlook (Volume of Million Tons, Revenue USD Million, 2014-2025)

  • Rock salt

  • Salt in brine

  • Solar salt

  • Vacuum pan salt

• Application Outlook (Volume of Million Tons, Revenue USD Million, 2014-2025)

  • Chemical processing

    • Caustic soda

    • Soda Ash

    • Chlorine

  • De-icing

  • Oil & Gas

  • Water treatment

  • Agriculture

  • Other

• Regional Outlook (Volume of Million Tons, Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

These are the most frequently asked questions about this report

b. Global industrial salts market was valued at USD 13.7 Billion in 2019, and is projected to grow to USD 14.0 Billion by 2020.

b. Global industrial salts market will grow at a compound annual rate of 2.4% between 2019 and 2025, reaching USD 15.9 billion in 2025.

b. Chemical Processing was the dominant player in the industrial salts market, with a 57% share in 2019. Chemical manufacturers use the product in a variety of grades, including brine and rock.

b. Among the major players in the industrial salts market are Compass Minerals and Cargill Inc., INEOS Enterprises China National Salt Industry Corporation (CNSIC), Tata Chemicals Limited K+S Group Morton Salt, Mitsui & Co. Ltd. Rio Tinto PLC Delmon Salt Factory Donald Brown Group AkzoNobel N.V. Exportadora De Sal SA. ZOUTMAN Industries

b. The key factors driving industrial salts market growth are rising demand in key industries such as highway deicing and oil & gas, water treatment and agriculture.

Up Market Research published a new report titled “Industrial Salts Market research report which is segmented by Product (Vacuum Pan Salt, Salt in Brine, Rock Salt, Solar Salt), by Source (Brine, Salt Mines), By Players/Companies Morton Salt, Cargill Inc, Rio Tinto PLC, Tata Chemicals Limited, ZOUTMAN Industries, Compass Minerals, China National Salt Industry Corporation (CNSIC), K+S Group, European Salt Company, INEOS Enterprises, Mitsui & Co Ltd, Donald Brown Group, Delmon Salt Factory, Exportadora De Sal SA, AkzoNobel NV”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Industrial Salts Market Report Segments:

The market is segmented by Product (Vacuum Pan Salt, Salt in Brine, Rock Salt, Solar Salt), by Source (Brine, Salt Mines).

Industrial Salts Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Industrial Salts Market

Overview of the regional outlook of the Industrial Salts Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Industrial Salts Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Industrial Salts Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Vacuum Pan Salt

                2. Salt in Brine

                3. Rock Salt

                4. Solar Salt

                1. Brine

                2. Salt Mines

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Industrial Salts Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Industrial Salts Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.