CLEVELAND, Feb. 7, 2020 /PRNewswire/ -- A new Freedonia Group analysis of the global salt market predicts global salt production to total 345.5 million metric tons in 2023. Solar evaporation is expected to remain the largest and fastest growing method of salt extraction, supported by its:
- low cost relative to the more energy-intensive rock salt mining and brine extraction processes (the second and third most employed methods, respectively)
- particular amenability to climate conditions in a number of industrializing countries located in the Africa/Mideast and Asia/Pacific regions, as solar evaporation requires high evaporation rates and low precipitation levels
More information regarding the Global Salt study is here: https://www.freedoniagroup.com/World-Salt.html
Solar evaporation saltworks in affluent countries such as the US often consist of manmade saltwater ponds from which crystallized salt is harvested using bulk loading equipment. Conversely, in many impoverished nations, the method is commonly performed by hand and only during certain months of the year, when weather conditions are optimal, leaving some producers susceptible to losses due to climate disruption and unseasonable weather, as recently seen in India.
Vacuum evaporation production also expected to gain
The capital- and energy-intensive vacuum evaporation and other niche methods of salt production are used almost exclusively in applications with the highest purity standards – such as food processing and pharmaceuticals – and thus represent less than 10% of global production. Despite an expected continuation of declines in Western Europe, this segment is expected to grow at a healthy 2.0% annual pace through 2023 (albeit from a small base), driven by:
- robust increases in the Asia/Pacific region as salt quality standards rise, which will fuel demand for higher purity grades of salt for both food and chemical applications
- a solid rebound in North America, stimulated by healthy gains in high purity chemical applications
Want to learn more?
Global Salt, a new study from The Freedonia Group, analyzes the global salt industry, presenting historical demand data (2008, 2013, and 2018) and forecasts (2023) by production method (solar evaporated salt, rock salt, brine, and vacuum evaporated and other methods), market (chemical processing, road deicing, food processing, livestock, and other markets), and region (North America, Central and South America, Western Europe, Eastern Europe, Asia/Pacific, and Africa/Mideast). The study also provides company market share and analysis of competitive technologies and trends.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group