Industrial Salt Market is Estimated Size of USD 14970 Million By 2028 With A CAGR of 1.4% - Valuates Reports

BANGALORE, India, Feb. 22, 2022 /PRNewswire/ -- Industrial Salt Market By Type - Sea Salt, Well and Rock Salt, Lake Salt, Market By Application - Chemical Processing, De-Icing, Oil & Gas, Water Treatment, Agriculture, Others. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Chemicals Industry Category.

The global Industrial Salt market size is estimated to be worth USD 13750 million in 2022 and is forecast to be a readjusted size of USD 14970 million by 2028 with a CAGR of 1.4% during the review period.

Major Factors Driving The Growth Of The Industrial Salts Market Are

Increasing use in various end-user industries for chemical processing, water treatment, De-Icing, Oil & Gas, and agriculture is expected to drive the growth of the industrial salts market.

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TRENDS INFLUENCING THE GROWTH OF THE INDUSTRIAL SALTS MARKET

The chemical industry relies heavily on industrial salt to manufacture various chemicals. This factor is expected to drive the growth of the industrial salts market. It is frequently used as a raw material in the production of chlorine, caustic soda, and soda ash. Aside from these, industrial salt is used to make caustic soda, sodium sulfate, sodium carbonate, hydrochloric acid, sodium bicarbonate, liquid sodium, metallic sodium, chlorine, and sodium nitrate, among other things. Furthermore, industrial salts are actively used in the chlor alkali process to manufacture products such as ethylene dichloride, which is stimulating demand for industrial salts due to a lack of cost-effective substitutes. 

The industrial salts market growth is driven by the rising demand for clean water. In most water softening systems, industrial salts are used for water treatment. Water softening systems use an ion exchange process with resins to effectively remove calcium and magnesium salts from water. For resin regeneration, industrial salts are used, which improves the resin's as well as the system's performance. For these purposes, coarse, granulated, or salt pellets of various geometries are used. Industrial salts are also used as a source of chlorine in the treatment of drinking water and swimming pools as disinfectants. 

Industrial salt is often used in an oil drilling rig to make it more efficient and safer. Other than this, industrial salt is utilized as an additive in mud used as a drilling fluid. Industrial salt increases the density of the soil and thus makes the drilling process safer. Industrial salt applications in mud used as drilling fluid act as a lubricant and coolant for the drilling head. Salt applications in the oil industry can also serve as flocculants, diverting agents, acidizing specialty additives, thinners/dispersants, and stabilizers.

The growing use of industrial salts for de-icing is expected to drive the growth of the industrial slats market. The vast majority of industrial salt is used to keep roads, sidewalks, and platforms in good working order. De-icing road salt is frequently spread across the roads before the surface freezes, forming a layer of brine. This process slows or prevents the formation of ice. When roads or sidewalks are already frozen or covered in snow, industrial salt is used to lower the freezing point of water. As a result, industrial salt melts the snow and prevents the formation of ice. As a result, salt de-icing makes roads safer and helps to prevent accidents.

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INDUSTRIAL SALT MARKET SHARE ANALYSIS

Based on region, Asia-Pacific is expected to be the most lucrative region, with China holding the majority share of about 80%. IT was followed by India and Japan, both having a share of over 15 percent.

Based on the product, Well and rock salt is expected to be the most lucrative with a market share of 45%.

Based on application, the largest application is (Chemical processing) Chlor-Alkali, followed by Soda ash, etc. 

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Market By Region

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

Industrial Salt Market By Companies

• Archean Group
• Ahir Salt
• GHCL
• Sojitz
• Naikai Salt
• China National Salt
• 9D Grou
• Yunnan Salt
• Lantai Industry
• Chengyuan Salt
• Jingshen Salt & Chemical
• Longwei
• Chengkou
• Lubei Chemical
• Dadi Salt

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SIMILAR REPORTS

-  The global Iodate Salt market was valued at USD 9140.4 million in 2020 and it is expected to reach USD 10210 million by the end of 2027, growing at a CAGR of 1.6% during 2021-2027.

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