Industrial Salt Market by Source, Manufacturing Process, Application And Region - Global Forecast to 2022
NEW YORK, Sept. 6, 2017 /PRNewswire/ -- "The industrial salts market is projected to grow at a CAGR of 2.8% from 2017 to 2022"
The industrial salts market was valued at USD 12.70 billion in 2016 and is projected to reach USD 14.93 billion by 2022, at a CAGR of 2.8% from 2017 to 2022. The increased demand for industrial salts in the chemical processing, de-icing, water treatment, oil & gas, and agriculture applications is expected to drive the growth of the industrial salts market across the globe. The demand for industrial salts is driven by the growth of its application sectors. Chemical processing is a major application of industrial salts. Industrial salts are particularly used as raw material for the manufacturing of caustic soda, chlorine, and soda ash. The increasing demand for these chemicals will increase the consumption of industrial salts in the coming years. Concerns over the usage of industrial salts in de-icing and food industry may restrain the growth of the market during the forecast period.
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"The chemical processing segment of the industrial salts market is expected to be the largest application segment of the market during the forecast period"
The chemical processing segment of the industrial salts market is expected to be the largest application segment of the market during the forecast period, in terms of value. The growth of this segment can be attributed to the increased production of caustic soda and soda ash. Expansion of the chlor-alkali industry and the increasing number of water treatment plants are expected to drive the growth of the Asia Pacific industrial salts market during the forecast period.
"Based on manufacturing process, the conventional mining process type segment of the industrial salts market is projected to witness the highest growth between 2017 and 2022"
Based on manufacturing process, the conventional mining process segment of the industrial salts market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. The large availability of rock salt deposits and the landscape of these mines favoring the mining process is expected to drive the conventional mining process segment of the industrial salts market.
"The Asia Pacific industrial salts market is projected to witness the highest growth during the forecast period from 2017 to 2022"
The increased demand for industrial salts from the Asia Pacific region can be attributed to the growth in the chemical processing and water treatment sectors in the region. Expansion of the chlor-alkali industry and the increasing number of water treatment plants are expected to drive the growth of the Asia Pacific industrial salts market during the forecast period.
Extensive primary interviews have been conducted to determine and verify the market size for several segments and subsegments.
The break-up of primary interviews has been given below.
• By Company Type: Tier 1 – 50%, Tier 2 – 37%, and Tier 3 – 13%
• By Designation: C Level – 50%, Director Level – 31%, and Others – 19%
• By Region: North America – 38%, Europe – 31%, Asia Pacific – 25%, Middle East & Africa and South America– 6%
The companies profiled in this market research report include K+S AG (Germany), Cargill, Inc. (US), Compass Minerals International Inc. (US), China Salt Industry (China), Dominion Salt Ltd. (New Zealand), Tata Chemicals Ltd (India), Mitsui & Co. Ltd (Japan), Exportadora De Sal De C.V. (Mexico), INEOS Group Holdings S.A. (UK), and Rio Tinto Plc (UK).
Research Coverage:
This research report has segmented the industrial salts market on the basis of source type, manufacturing process type, application, and region. It includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities influencing the growth of the market. A detailed analysis of the key players has been done to provide insights on their business overviews, products & services offered, and key strategies, such as investments & expansions, and mergers & acquisitions adopted by them to strengthen their position in the industrial salts market.
Reasons to Buy the Report:
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report comprehensively segments the industrial salts market and provides the closest approximations of the market sizes for the overall market and its subsegments across different regions.
2. The report is expected to help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report is also expected to help the stakeholders understand major competitors and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from different regions, contributing to the market. The landscape consists of the top 25 companies ranked and grouped, on the basis of their competency parameters, such as geographical presence, recent strategic developments, patents filed, and the number of employees.
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