Industrial Salts Market Is Expected To Reach A Revenue Of USD 61.3 Bn By 2033, At 5.5% CAGR: Dimension Market Research

New York, May 27, 2024 (GLOBE NEWSWIRE) -- Market Overview

The Global Industrial Salts Market size is expected to reach USD 37.8 billion by 2024 and is further anticipated to reach USD 61.3 billion by 2033 a CAGR of 5.5% from 2024 to 2033 according to Dimension Market Research.

Industrial salts, also referred to as sodium chloride, are white crystalline solids manufactured from seawater and rock salt deposits using traditional methods like vacuum evaporation, mining, and solar evaporation.

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The growth of the industry salts market is driven by increasing demand in vital sectors such as oil and gas, highway deicing, agriculture, water treatment, and chemical processing, especially for producing caustic soda, chlorine, and soda ash. Anticipated growth drivers include growing demand for direct uses like agriculture and deicing and indirect applications in chemical processing.

Important Insights

• The global industrial salts market is expected to grow by USD 61.3 billion by 2033 from 2025 with a CAGR of 5.5 % during the same forecasted period i.e. 2025 to 2033.
• Natural brine is forecasted to hold the largest market share of 63.1% and dominate the industrial salt market based on source in 2024, as it serves as a significant source of industrial salts, obtained from vast saline water bodies or via solution mining methods.
• Conventional mining is projected to be the dominant force in the market based on the manufacturing process capturing the largest revenue share of 52.6% in 2024, as it is the most traditional straightforward, and relatively inexpensive method that includes an evaporation process used for extraction.
• Salt in brine is forecasted to hold the largest market share and dominate the market based on product in 2024, due to its ease of dissolution, handling, & consistent salinity, which is mostly utilized in several applications, especially in the food sector.
• Chemical Processing as an application is expected to witness significant growth with the highest revenue share of 50.8% throughout the forecast period. Industrial salts find widespread utilization in the manufacturing of soda ash chlorine, & caustic soda because of their economical nature & abundant availability.
• Asia-Pacific is anticipated to dominate the global industrial salt market, capturing a revenue share of 34.1 % in 2024 due to rising emphasis on healthy & clean environments and healthcare has enhanced the demand for a variety of products serving as cleansing agents.
• Similarly, the anticipated growth in the North American market is primarily due to the widespread use of industrial salts in de-icing applications during harsh weather conditions, particularly driven by increased demand from the chemical processing and highway de-icing sectors.

Latest Trends

• Industrial salt companies are using advanced technology for better extraction methods, purification processes, and overall efficiency. Automation and digitalization are becoming more prevalently adopted by major market players.
• Industrial salts are demanded in the chemical industry for applications like chlorine production, which is used extensively in water treatment, plastics, and other chemical processes.

Global Industrial Salts Market: Competitive Landscape

• Major players in the market such as K+S Group benefit from strategically located production sites in North America, South America, and Europe.
• With a wide network of production facilities, global players demonstrate excellent adaptability to weather-induced fluctuations in de-icing demand, ensuring consistent supply to customers.
• Established companies like Compass Mineral and Morton Salt are actively involved in competitive expansion efforts in various regions, with a focus on high-margin sectors like food processing and pharmaceuticals.
• Some of the major players in the market include Cargill Inc., Tata Chemicals Limited, China National Salt Industry Corporation, Delmon Salt Factory Co. Ltd, and more.

Some of the prominent market players:

• Cargill Inc.
• Tata Chemicals Limited
• China National Salt Industry Corporation (CNSIC)
• Delmon Salt Factory Co. Ltd
• Compass Minerals Limited
• INEOS Enterprises
• Morton Salt
• Mitsui & Co. Ltd.
• European Salt Company
• K+S Group
• Other Key Players

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Global Industrial Salt Market Scope

Market Analysis

Chemical processing is anticipated to be the dominant driver of an industrial salt market based on application, with 50.8% of the market share in 2024. Industrial salts are widely used in manufacturing soda ash, chlorine, and caustic soda due to their cost-effectiveness and easy availability. The increasing need for industrial salts in chemical processing and chlor-alkali applications, particularly in India and China, will fuel market growth.

The lack of viable alternatives has led to the widespread use of industrial salts in the chlor-alkali process, supporting the production of products like ethylene dichloride and driving demand further. Chemical manufacturers utilize various grades such as brine, rock, and high-purity grades, with major players often opting to produce high-purity artificial brine internally using solution mining methods.

The de-icing sub-segment follows closely, benefiting from the plentiful supply, affordability, and effective ice control properties of industrial salts. Rock salt is the primary choice for de-icing due to its natural purity, eliminating the need for additional purification processes.

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Global Industrial Salt Market Segmentation

By Source

• Natural Brine
• Salt Mines

 By Manufacturing Process

• Conventional Mining
• Solar Evaporation
• Vacuum Pan Evaporation

 By Product

• Salt in Brine
• Solar Salt
• Rock Salt
• Vacuum Pan Salt

By Application

• Water Treatment
• Oil & Gas
• De-Icing
• Chemical Processing
  • Caustic Soda
  • Soda ash
  • Chlorine
  • Agriculture
• Others

Growth Drivers

• The industrial salt market is driven by the ample availability of salt reserves. This abundance, coupled with simple engineering techniques, lowers costs for companies and boosts demand for industrial salt for various uses.
• In the pharmaceutical field, industrial salts are essential for making capsules and saline solutions. They also have diverse applications in cosmetics, food, and multiple other sectors.
• Chlor-alkali industry utilizes salt in detergents and solvents due to its cost-effectiveness and efficacy.

Restraints

• The use of industrial salts across different sectors carries health and environmental hazards, including the risk of brain damage and harm to ecosystems.
• Government regulations regarding the extensive application of industrial salt in chemical procedures are a significant factor impeding market progress.

Growth Opportunities

• Rising demand for industrial salts in water treatment plants, particularly for softening and purifying water, creates a new market opportunity in this market.
• Industrial salts dominate due to the absence of affordable substitutes, especially in the production of products like ethylene dichloride, where they offer the most economical choice which shows substantial growth opportunities for the market in the foreseeable future.
• Rapid industrialization and urban growth fueled an increased need for various chemical products, leading to a higher demand for industrial salts in recent times.

Regional Analysis

Asia-Pacific region is expected to lead the Global Industrial Salts Market in both production and consumption, accounting for 34.1% of global revenue in 2024. The growing focus on cleanliness and healthcare increases the demand for various cleansing products made with industrial salts, driving significant growth in this market segment across Asia Pacific.

There is a notable increase in demand for disinfectants and laundry detergents, especially with the growing populations in countries like India and China, which is further fueling market expansion. China increased its production to meet this rising demand, reflecting the region's increasing industrialization and the chemical sector's demand for industrial salts.

By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Global Industrial Salts Market

• January 2024: Saltworks Technologies doubled its production capability to upgrade its main manufacturing facility which is built upon its standardized and replicable modular designs, along with cell-based production and adherence to ISO Quality Assurance standards.
• May 2023: Cargill’s salt business signed an agreement with CIECH Group, a leading supplier of evaporated salt products to extend its range of specialty and evaporated food salt solutions to food manufacturers in Europe.
• March 2023: Minerals Income and Investment Fund (MIIF) announced plans to boost Ghana's salt industry, prioritizing the Ada Songhor Lagoon which aims to develop it into Sub-Saharan Africa's largest salt-producing area, aligning with Ghana's industrialization agenda.
• February 2023: Invest International announced a loan facility of USD 13.6 million for the Egyptian Salt Industry Company (ESIC) which is designated for the development of a salt refining industrial plant in Egypt, leveraging technology and equipment provided by a Dutch company Titan Salt B.V.
• December 2022: CIECH Soda Polska signed a supply agreement with Inowroclaw Salt Mines “Solino” to provide brine to its production plant up until 2035.

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