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

  • ID: 5012506
  • Report
  • April 2021
  • Region: Global
  • 120 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2021

FEATURED COMPANIES

  • Archean Group
  • Compass Minerals
  • Dominion Salt Limited
  • INEOS
  • MITSUI & CO., LTD
  • Nouryon
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 led to a decrease in the demand for raw material needed in chemical processing. Furthermore, industrial salts are also consumed in paper manufacturing. According to CONFEDERATION OF EUROPEAN PAPER INDUSTRIES (CEPA), the paper and board production by Cepi member countries has been 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, which uses industrial salts as a raw material during production, have 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, increasing demand of 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) is 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.
  • Asia-Pacific region dominated the market across the globe with the largest consumption from countries such as China and India.
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 the 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 will rise by about 12.3% in 2021 compared to the previous year. The total chemical capital expenditure will rise to USD 33.5 billion by 2021, with a growth rate of 15.7% compared to the previous year, which in turn expected to stimulate the market demand of 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 which is enhancing the growth of industrial salts market.
  • The laundry care segment also consumes industrial salts for manufacturing detergents, soaps, and other laundry care products. The laundry care market of United States 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%, which in turn stimulates the demand for the studied market.
  • Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.
Asia-Pacific Region to Dominate the Market
  • 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 in the region.
  • 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 will help to 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 in the construction industry with a market size of USD 1092.9 billion in the year 2019, registering a growth rate of 14.71% compared to the previous year.
  • Furthermore, the total new construction in Japan was accounted for about 127.55 million square meters in 2019 and reached about 113.74 million square meters in 2020, with a decline rate of about 10.5%, thus led to a decrease in consumption of PVC made construction materials, which in turn stimulates the demand for the industrial salts market.
  • Some of the major companies operating in Asia-Pacific region are – Cargill, Incorporated, K+S Aktiengesellschaft, and Tata Chemicals Ltd.
  • Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.
Competitive Landscape

The Industrial Salts market is fragmented with the top 5 players accounting for a marginal share of the market. Some of the key players in the market include Cargill Incorporated, K+S Aktiengesellschaft, Tata Chemicals Ltd., INEOS, and Nouryon, among others.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This report will be delivered within 2 business days.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Archean Group
  • Compass Minerals
  • Dominion Salt Limited
  • INEOS
  • MITSUI & CO., LTD
  • Nouryon
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand in Chemical Processing
4.1.2 Growing Demand from Water Treatment
4.2 Restraints
4.2.1 Stringent Government Regulations
4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 Source
5.1.1 Rock Salt
5.1.2 Natural Brine
5.2 Manufacturing Process
5.2.1 Solar Evaporation
5.2.2 Vacuum Evaporation
5.2.3 Conventional Mining
5.3 Application
5.3.1 Chemical Processing
5.3.2 Water Treatment
5.3.3 De-icing
5.3.4 Agriculture
5.3.5 Food Processing
5.3.6 Oil and Gas
5.3.7 Others
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Archean Group
6.4.2 Cargill, Incorporated
6.4.3 Compass Minerals
6.4.4 Delmon Group of Companies
6.4.5 Dominion Salt Limited
6.4.6 Donald Brown Group
6.4.7 Exportadora de Sal de C.V,
6.4.8 INEOS
6.4.9 K+S Aktiengesellschaft
6.4.10 MITSUI & CO., LTD
6.4.11 Morton Salt, Inc.
6.4.12 Nouryon
6.4.13 Rio Tinto
6.4.14 Salins IAA
6.4.15 Tata Chemicals Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Technological Advancements to Produce High Purity Salts
7.2 Other Opportunities
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Archean Group
  • Cargill, Incorporated
  • Compass Minerals
  • Delmon Group of Companies
  • Dominion Salt Limited
  • Donald Brown Group
  • Exportadora de Sal de C.V,
  • INEOS
  • K+S Aktiengesellschaft
  • MITSUI & CO., LTD
  • Morton Salt, Inc.
  • Nouryon
  • Rio Tinto
  • Salins IAA
  • Tata Chemicals Ltd
Note: Product cover images may vary from those shown

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