New York, NY, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Sodium Chloride Market by Grade (Rock Salt, Vacuum Salt, and Solar Salt) and by Application (Chemical Intermediate, Pharmaceuticals, Agriculture, Food Processing, Deicing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024”. According to the report, global sodium chloride market was valued at approximately USD 14.88 billion in 2017 and is expected to generate revenue of around USD 19.45 billion by the end of 2024, growing at a CAGR of around 3.9% between 2018 and 2024.
Rising number of chemical industries is boosting the demand for chlor-alkali products which includes soda ash, chlorine, caustic soda, and others. These products are further used for producing the products such as soaps, detergents, dyes, PVC, among others. In addition to this, growing demand in the pharmaceutical industry is also stimulating the market growth during the forecast period. However, a low-profit-margin is the major factor hampering the market growth during the forecast period.
Browse through 49 Tables & 19 Figures spread over 110 Pages and in-depth TOC on “Global Sodium Chloride Market: By Industry Type, Size, Share, Market Growth, Segments, Analysis and Forecast, 2017 - 2024”.
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On the basis of grade, sodium chloride market is categorized into rock salt, vacuum salt, and solar salt. Vacuum salt is contributing the major revenue share and is anticipated to continue its dominance during the forecast timeframe. The growth of this segment is attributed to the wide usage of vacuum salt in the drilling applications, water treatment processes, and deicing industries, among others. Development of these industries could eventually support the market growth in the upcoming years.
Based on the application, the market is categorized into chemical intermediate, pharmaceuticals, agriculture, food processing, deicing, and others. Chemical intermediate is anticipated to be dominant in the market during the forecast period. It is used in the production of the many chemical products, organic and inorganic. Chlorine, caustic soda, and soda ash are widely used in the chemical industry in the production of different products such as dyes, PVC, glasses, soaps, and detergents. Moreover, increasing demand for these products across the globe is a major factor projected to positively influence the market growth.
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Geographically, Asia Pacific dominates the overall sodium chloride market. The region is leading in the production and consumption of the sodium chloride. China holds a major share in the market. This growth is accredited to the increasing demand for the chemical, food, and beverage, and water treatment industries. Moreover, solar salt within a grade is the fastest growing sector owing to the rising demand in the chemical industry in this region.
North America is the second largest consumer of the sodium chloride. Significant use of the deicing industry is driving the market in the region. North America and Europe are expected to experience a steady growth rate. The market in these regions is matured, hence anticipated to show sluggish growth rate. Moreover, most of the consumption of sodium chloride in these regions is in deicing industries.
Browse the full "Sodium Chloride Market by Grade (Rock Salt, Vacuum Salt, and Solar Salt) and by Application (Chemical Intermediate, Pharmaceuticals, Agriculture, Food Processing, Deicing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/sodium-chloride-market
Major players operating in the sodium chloride market are Dampier Salts, Akzo Nobel N.V., Tata Chemicals Ltd., Cargill Incorporated, Sdwestdeutsche Salzwerke AG, Compass Minerals International, Inc., Wacker Chemie AG, Swiss Salt Works AG, China National Salt Industry Corporation, INEOS Salts, Cheetham Salt, among others.
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This report segments the sodium chloride market as follows:
Sodium Chloride Market: Grade Segment Analysis
- Rock Salt
- Vacuum Salt
- Solar Salt
Sodium Chloride Market: Application Segment Analysis
- Chemical Intermediate
- Pharmaceuticals
- Agriculture
- Food Processing
- Deicing
- Others
Sodium Chloride Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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