Dublin, May 23, 2023 (GLOBE NEWSWIRE) -- The "Industrial Salts Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global industrial salts market is expected to grow from $14.22 billion in 2022 to $14.89 billion in 2023 at a compound annual growth rate (CAGR) of 4.7%. The industrial salts market is expected to grow to $17.61 billion in 2027 at a CAGR of 4.3%.
The growing number of water treatment projects is expected to propel the industrial salt market. Water treatment is the process of purifying water for utilization or restoring it to its natural form. Industrial salts are used in water treatment to remove impurities and undesired components, as well as to lower the waste concentration in water supplies used for both household and industrial applications or discharge it back into the environment. Additionally, various government initiatives are implemented to improve water quality, which favors the demand for water treatment projects.
For instance, in March 2021, the U.S. Department of Energy (DOE), a US-based federal government that oversees U.S. national energy policy and manages the research and development on power, announced the investment of $27.5 million for 16 water infrastructure projects with modern technologies to reduce energy use in aging water infrastructure, especially in wastewater treatment that demands up to 2% of domestic electricity use each year. Therefore, the growing number of water treatment projects is expected to drive the industrial salts market.
Strategic partnership is a key trend in the industrial salt market. Major players in the market are entering into a partnership to leverage each other's resources and expand in new markets. For instance, in May 2022, Nippon Shokubai, a Japan-based chemical manufacturer, partnered with Arkema. The aim of this partnership is to build a factory to produce ultrapure electrolyte salt, or LiFSI (Lithium bis(fluorosulfonyl)imide), a crucial part of battery cells for electric mobility. Arkema is a US-based manufacturer of specialty materials.
In July 2021, Stone Canyon Industries Holdings LLC (SCIH), a US-based company operating in industrial salts acquired K+S Aktiengesellschaft for a deal of $3.2 billion. Through this acquisition, Stone Canyon Industries Holdings LLC (SCIH) aims to strengthen and expand its salts business to offer an extensive line of products to consumers as well as governmental and commercial customers in America. K+S Aktiengesellschaft is a Germany-based chemical company.
Asia-Pacific was the largest region in the industrial salts market in 2022. The regions covered in the industrial salts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the industrial salts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Description:
Where is the largest and fastest growing market for industrial salts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial salts market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
1) By Source: Rock Salt; Natural Brine
2) By Manufacturing Process: Conventional Mining; Solar Evaporation; Vacuum Evaporation
3) By Application: Agriculture; Chemical Processing; Food Processing; Water Treatment; De-icing; Oil and Gas
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $14.89 billion |
| Forecasted Market Value (USD) by 2027 | $17.61 billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Industrial Salts Market Characteristics
3. Industrial Salts Market Trends And Strategies
4. Industrial Salts Market - Macro Economic Scenario
5. Industrial Salts Market Size And Growth
6. Industrial Salts Market Segmentation
7. Industrial Salts Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Cargill Incorporated
- Mitsui & Co. Ltd.
- Nouryon
- Rio Tinto Group
- Compass Minerals International Inc.
- China National Salt Industry Corporation
- Dominion Salt
- Tata Chemicals Limited
- INEOS Group Limited
- Morton Salt
- Donald Brown Group
- Exportadora de Sal SA
- COMPAGNIE DU SALINS DU MIDI AND SALINES DE L'EST
- Delmon Chemical Industries
- Archean Group
- CK Life Sciences International Holdings Inc.
- Akzo Nobel Salt Inc.
For more information about this report visit https://www.researchandmarkets.com/r/txdo54
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