Wilmington, Delaware, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Philippines Industrial Salt Market is valued at US$ 30 million in 2022 and is expected to grow at a significant CAGR of over 3.7% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
In water treatment procedures, industrial salt softens water and removes contaminants. The need for industrial salt in water treatment may rise as companies develop and water quality issues are raised. In food preparation, salt is used as a condiment, a preservative, and to enhance flavor. The need for industrial salt for food processing may increase as the Philippine food sector expands.
For a number of activities, including chemical production, textile manufacture, and pharmaceutical manufacturing, the chemical and manufacturing industries use salt as a raw ingredient. The expansion of these sectors may increase demand for industrial salt.
- According to a deep-dive market assessment by RationalStat, the Philippines industrial salt market has been analyzed on the basis of market segments, including on type, application and geography/regions (including Northern Philippines, Eastern Philippines, Western Philippines, Souther Philippines). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Philippines industrial salt market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Philippines industrial salt market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Philippines Industrial Salt Market: Segmental and Market Share Analysis
- On the basis of type, due to the significant growth in urbanization and industrialization around the world over the forecast period, the natural brine sector is anticipated to hold the biggest market share.
- On the basis of application, the segment for chemical processing is anticipated to hold the biggest market share over the forecast period. The segment dominates the global industrial salt market because soda ash and caustic soda are produced using chemical processes.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 30 million |
| Market Size Forecast | US$ 38.8 million |
| Growth Rate | 3.7% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Philippines industrial salt market include,
- In January 2021, Tata Chemicals Ltd intended to purchase the industrial salt production facility from Archean Group with an annual production capacity of 3 million tons, which would improve the company's operations.
Some of the prominent players and suppliers operating and contributing significantly to the Philippines industrial salt market growth include Artemis Salt Corporation, Salinas Corporation, Salt Industries Corporation, Azelis, Solar Salt Mfg. & Refining Corporation among others.
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RationalStat has segmented the Philippines industrial salt market based on type, application and region
- Philippines Industrial Salt Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Type
- Rock Salt
- Natural Brine
- Philippines Industrial Salt Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
- Chemical Processing
- De-icing
- Water Treatment
- Oil & Gas
- Agriculture
- Food Processing
- Philippines Industrial Salt Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- Northern Philippines Industrial Salt Market
- Eastern Philippines Industrial Salt Market
- Western Philippines Industrial Salt Market
- Southern Philippines Industrial Salt Market
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Key Questions Answered in the Industrial Salt Report:
- What will be the market value of the Philippines industrial salt market by 2030?
- What is the market size of the Philippines industrial salt market?
- What are the market drivers of the Philippines industrial salt market?
- What are the key trends in the Philippines industrial salt market?
- Which is the leading region in the Philippines industrial salt market?
- What are the major companies operating in the Philippines industrial salt market?
- What are the market shares by key segments in the Philippines industrial salt market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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