Wilmington, Delaware, United States, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global sodium chloride market was estimated at a value of US$ 18 billion in 2022. It is anticipated to register a 3.8% CAGR from 2023 to 2031 and by 2031; the market is likely to attain US$ 26.1 billion by 2031.
Sodium chloride is crucial in countries that receive a lot of snowfall. It is often employed in applications involving de-icing. Icy pathways and roadways can result from winter weather conditions. This may lead to dangerous situations for both automobiles and pedestrians. To fight this, deicers are utilized.
A compound known as deicer dissolves or stops ice from forming. It lowers the freezing point of water and keeps ice from adhering to pavement. In addition, plastic, paper, glass, rubber, bleaches, soaps, dyes, and detergents are made using sodium chloride. The market for sodium chloride is growing due to its expanding range of applications.
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Key Findings of the Market Report
- Rising investment in research and development in the sector are driving up demand for lithium-ion battery electrolytes.
- Sodium chloride enhances flavor by modifying the activity of certain enzymes that are essential for the production of various organoleptic characteristics.
- The food processing industry uses a lot of regular salt. Food is preserved and flavor and spice are added to it.
- One essential ingredient in processed meat and cheese, along with other preservatives, is sodium chloride.
- The increasing global consumption of processed goods as a result of changing lifestyles and population increase presents a substantial economic opportunity for businesses in the sodium chloride industry.
Market Trends for Sodium Chloride
- The liquid sodium chloride is employed in the core of controlled-release tablets as an osmotic and channeling agent. It makes it easier to alter medication release and modify tablet coating porosity.
- Sodium chloride manipulates the way drugs release from emulsions and gels. By altering the ionic characteristics of formulations, it aids in modifying the thickness of solutions. To make isotonic solutions, sodium chloride is frequently used in a variety of pharmaceutical goods. It is utilized in ocular washes or solutions, intravenous lock flush solutions, and nasal saline sprays.
- Sodium chloride tablets are used to replace salt that is lost via excessive sweating. Medications for nebulization and inhalation are diluted with sodium chloride. Sodium chloride is a benign and nonirritating excipient. The need for sodium chloride in bulk is being driven by this in the pharmaceutical manufacturing industry.
Global Market for Sodium Chloride: Regional Outlook
Various reasons are propelling the growth of the sodium chloride market throughout the region. These are:
- In terms of value, Asia Pacific held a major share of the global sodium chloride market in 2022. It is expected that the area will remain dominant in the near future.
- In Asia Pacific, China and India are the two biggest producers and consumers of chlor-alkali products. The need for chemicals in end-user industries is driving growth in the chemical industry, which is driving up chlor-alkali consumption. As a result, the need for sodium chloride in Asia Pacific is gradually increasing.
- In the near future, the industry shares in North America and Europe are expected to steadily increase, according to sodium chloride market research. The presence of key manufacturers and a developed industrial infrastructure are two elements impacting these regional market growth.
- Latin America and the Middle East & Africa are regarded as emerging markets for sodium chloride. Continuous expansion in the food and beverage and chemical industries, which is enhancing the market dynamics of these areas.
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Global Sodium Chloride Market: Key Players
There is a strong competition amongst companies in the global sodium chloride industry. Global corporations with sophisticated technology capabilities dominate the scene. Sodium chloride is often used in many daily applications. Businesses that operate in the industry value brand image highly. The following companies are well-known participants in the global sodium chloride market:
- Akzo Nobel N.V.
- Cargill Incorporated
- Compass Minerals International Inc.
- K+S AKTIENGESELLSHCAFT
- Tata Chemicals Limited
- Wacker Chemie AG
- Südwestdeutsche Salzwerke AG
- The Henrique Lage Salineira do Nordeste
- INEOS Salts
- Maldon Crystal Salt Co.
- Dampier Salt Limited
- Swiss Salt Works AG
- Cheetham Salt
- Dominion Salt
Some key developments by the players in this market are:
- Cargill, Inc. stated in August 2023 that it would be selling off a portion of its salt deicing operations in the United States in order to redirect funds toward improvements in the production of sodium chloride.
Global Sodium Chloride Market Segmentation
Grade
- Rock Salt
- Solar Salt
- Others
Application
- Chemical Intermediates
- De-icing
- Flavoring Agents & Food Preservatives
- Water Treatment
- Agriculture
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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