Pune, India, Sept. 14, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, in a report, titled “Salt Market Size, Share & Segmentation Analysis, By Type (Rock salt, Salt in brine, Solar salt, Vacuum pan salt), By Source (Brine, Salt mines), By Application (Chemical processing, De-icing, Water treatment, Oil & Gas, Agriculture, Flavoring agent, Others) and Regional Forecast, 2022-2029.”
The rising need for salt applied in the chemical manufacturing industry is expected to enable speedy expansion of the market. The growing demand for Chlor-alkali chemicals is expected to foster healthy growth of the market.
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The Report lists the Key Companies in the Salt Market:
- Akzo Nobel
- Cargil
- Compass Minerals
- INEOS
- K+S
- Solvay
- China National Salt Industry
- CIECH GROUP
- Atisale
- LEMAR
The whole world is battling with the novel coronavirus, leaving numerous industries in distraught. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Historical Data | 2018-2020 |
| Region Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and the Rest of the World |
| Segments Covered | By Type, End-user and Regional Insights |
| Salt Market Growth Drivers | Significant Demand from Manufacturing Industries to Enable Speedy Expansion |
| Expansion of Solvay’s Manufacturing Capacity to Lighten Business Opportunities |
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Report Coverage:
The report presents a systematic study of the salt market segments and thorough analysis of the market overview. A thoughtful assessment of the present market trends as well as the future prospects is offered in the report. Furthermore, it presents an exhaustive analysis of the regional insights and how they aid to develop the market growth.
The COVID-19 impacts have been conversed in the report to help investors and business professionals with a better understanding of the latent jeopardies present in the market. The report further converses the prime players and their prominent strategies to preserve their position as dominating companies.
Market Driver:
Expansion of Solvay’s Manufacturing Plant to Incite Business Development
The increasing focus of companies towards increasing the production capacity of soda ash is expected to spur lucrative business opportunities for the market. For instance, in September 2019, Solvay, a Belgian chemical company founded in 1863 announced that it will expand its manufacturing capacity for soda ash by 600-kilo tonnes, to fulfill long-term global market progress in various implementations and raise its capacity for sodium bicarbonate by 200-kilo tonnes, resolving global demands for flue gas initiatives to improve air quality.
The ongoing expansion projects by major companies can have a tremendous impact on the global market. Besides, the prospering manufacturing industry is expected to enable speedy expansion of the market. However, several regulations relating to mining activities are expected to hamper the growth of the market during the forecast period.
The report on the salt market emphasizes:
- Comprehensive study of the market
- Vital insights into the segments
- Far-reaching information about regions
- Valuable data about prominent players
- Latest developments in the market
Regional Analysis:
Prospering End-use Industries to Boost Development in Asia Pacific
Asia Pacific is expected to rise tremendously during the forecast period owing to the rapid developments in emerging economies such as India and China. The growing solar salt production is expected to have a positive impact on the market in the region. The improving chemical and food processing businesses in China can contribute effectively to the growth of the market in the region.
North America is expected to observe rapid growth during the forecast period owing to sustainable production in the region. The Middle East and Africa are expected to hold a significant share during the forecast period owing to the advancements in chemical, food engineering, and other manufacturing operations.
However, the market in Latin America is expected to experience unsteady growth owing to the political turmoil and economic instability in the region.
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Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on salt market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the salt industry within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
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