Industrial Salts Market worth USD 16607.38 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Industrial Salts Market by Source (Brine and Salt Mine), by Product (Rock Salt, Salt in Brine, Solar Salt and Vacuum Pan Salt), by Application (Chemical Processing, De-icing, Oil & Gas, Water Treatment, Agriculture and Others), and by Region - Global Trends, Market Share, and Forecast to 2027". The global industrial salts market was valued at USD 14,067 million in 2020 to USD 16607.38 million by 2027, at a CAGR of 2.4% from 2021 to 2027. Salt deposits or solar evaporation operations of different production capacities are available in the majority of the countries across the globe. These resources of salt are vast and virtually inexhaustible. This makes salt available at low prices for its application industries.

Furthermore, there is no economic substitute or alternative for salt available in most of its applications. The chemicals such as calcium chloride, calcium magnesium acetate, hydrochloric acid, potassium chloride can substitute salt in de-icing, certain chemical processes, and food flavoring; however, at a high cost, on account of which the industry players opt for salt over its substitutes. There are three primary products derived from salt during chemical processing caustic soda, chlorine, and soda ash. The demand for these chemicals for direct usage increases in numerous application industries or forms compounds used in different application industries. As these chemicals are part of the raw materials for several products, the cost becomes a major concern, and salt is the most inexpensive mineral from which these chemicals can be extracted. As a result, the low cost of salt is expected to drive market growth.

Global Industrial Salts Market Segmentation

The overall industrial salts market has been segmented into the product, source, application, and region.

• By Source (Brine and Salt Mine)
• By Product (Rock Salt, Salt in Brine, Solar Salt and Vacuum Pan Salt)
• By Application (Chemical Processing, De-icing, Oil & Gas, Water Treatment, Agriculture and Others)
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, Japan, South Korea, India, Southeast Asia, Australia, Saudi Arabia, South Africa, Peru, Qatar, Nigeria, Israel, Brazil, UAE, Argentina)

Software, by product, is estimated to hold the largest market share during the forecast period

The Industrial salt industry has been segmented based on products, namely: rock salt, solar salt, salt in brine, and vacuum pan salt based on the extraction technique. In 2020, Rock Salt accounted for the largest market share of 42.39%. Most of the world's salt is obtained from underground and open-cast mining techniques using modern mining technologies. Rock salt is mined from underground deposits by the drilling and blasting technique. The players involved in rock salt production owned those salt mineral deposits or operated with the appropriate license, permits, and approvals from the mining authorities to conduct mining operations. In addition, it can be obtained by open-cast mining from the salt-bearing rock layers with the help of mining methods. Salar Grande in Chile and Celts at Hallstatt are the famous open-cast mines. De-icing of the roads accounts for a majority of the rock salt consumption. Rock salts are obtained from the surface or underground mining of halite deposits, and their demand is dependent on the winter weather conditions in the countries from cold regions. Rock salts are relatively inexpensive, and the state and local governments have long-term contracts with rock salt producers to deice roads, driveways, and sidewalks. Rock salt doesn't require any purification for its use in deicing roads. Rock salt also has applications in food processing as a flavor enhancer and to cure a wide variety of foods such as fish and bacon. Rock salt finds application in the agriculture industry for the preparation of animal feeds. Temperate countries such as Canada, Germany, and the U.S. produced a large amount of rock salt. They tended to have a high domestic need which they have to satisfy by importing it from nearby regions such as Chile and North Africa in extreme winter conditions.

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The Asia Pacific accounts for the largest market share during the forecast period in the industrial salts market

Based on the regions, the global industrial salts market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific was accounted for the highest market share of 43.5% in the global industrial salts market and was anticipated to maintain its dominance throughout the forecast period, followed by Europe and Noth America. Salt production in the Asia Pacific region is expected to rise fastest due to increased production in India, China, and Australia. Major players such as K+G Group are investing heavily in production facilities in this region. The company has established a solar salt manufacturing plant in Australia to satisfy increased demand from the Asia Pacific region. The Asia Pacific accounts for more than half of the salt consumed by the chemical manufacturing industry, primarily the chlor-alkali industry, and is expected to grow rapidly over the forecast period.

China accounts for the largest market share in the Asia Pacific region, with a production capacity of 58,000 Million Tons of salt. Increased production in India is expected to satisfy the growing demand for Caustic Soda in China and thereby increase the export of industrial salt from India. Salt produced in the region is majorly solar salt, with china being the largest producer in the Asia Pacific region. Asia Pacific region possesses a climate that is ideally suited for the production of solar salt. Vacuum evaporation is also expected to grow at a significant rate on account of healthy growth in China, where higher purity standards are of high importance. There are landlocked water bodies with higher salinity, such as Chilka lake in the region containing higher NaCl percentage and can form crystalized salt when vaporized. However, the presence of salt mines, which are the source of rock salt, is minimal. Zigong and Weifang in China, Vietnam, Khewra in Pakistan are the major salt mines in the Asia Pacific, indicating that the salt market in mines is comparatively much smaller than the brine market. The industrial salts market in the Asia Pacific is expected to grow because of the rising consumption of solar salt in the region.

Some of the major companies that operate in the global industrial salts market are K+S Group, Tata Chemicals Limited, Rio Tinto Plc., Compass Minerals, Cargill Inc., INEOS Enterprises, China National Salt Industry Corporation (CNSIC), Morton Salt, Mitsui & Co. Ltd., Delmon Salt Factory, Donald Brown Group, AkzoNobel N.V., Exportadora De Sal SA, European Salt Company, and ZOUTMAN Industries.

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