Global Market Insights, Inc. has released a new research study on industrial salt market Analysis 2018-2024 inclusive of one or more factors covering regional opportunities, application landscape, product demand trends, and end-use portfolio of the industry over the forecast timeframe. The report also outlines the competitive framework of the industry detailing the SWOT analysis and market share dominance of the prominent players.
Based on the application, industrial salt market is segmented into pharmaceutical, chemical processing, oil and gas, agriculture, de-icing, water treatment and others. Chemical processing is anticipated to grow rapidly over the next eight years. Chemical industry uses these industrial salts for its process completion of numerous products like soda ash, caustic soda and chlorine. A large amount of salt is used in manufacturing of soaps as it separates many components which is required for its making. It makes the chemicals to dissolve in water more rapidly hence serving as a filler for solvents and detergents.
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Industrial Salt Market size will witness significant growth owing to high acceptance in preparation of various food products over the forecast timeframe. Continuous growth in industrialization will further escalate the industrial salt market in respect with its wide range of industrial applications. In addition, easy availability of industrial salts solves the supply chain concern that serves as another factor resulting in the industry growth till 2024. Increasing demand from the chemical industry in production of soda ash and chloro-alkali chemical is promoting the industry market.
Industrial salts also find their applications in solar ponds and some energy production facilities that is anticipated to open new opportunities in the coming years. It maintains the required salinity in production of energy. It also servers the water treatment and agriculture industry in its various applications. Industrial salt is widely used by oil and gas industry and is majorly used by chemical industry.
Europe and North America are projected to account for a significant share in industrial salt market over the forecast timeframe. High production of industrial salt in Europe coupled with the presence of numerous established and local players will support the industry growth in the region.
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Cargill, China National Salt Industry Corporation, ICL Fertilizers, Dow Chemicals, Akzo Nobel, Compass Minerals, K+S Chemical Company, Tata Chemicals are the among the major players in the industry .Other participants involved in manufacturing are Artyomsol, Maldon Crystal Salt, INEOS Chemicals, Rio Tinto, Mitsui & Co. Ltd, Agrosal, Henrique Lage Salineira, Dominion Salt, Shandong Dadi Salt Chemical, Morton Salt, Kopalnia Soli Klodawa Spolka Akcyjna, Dampier Salt, SunSalt, Russolo, Mitsui, Irish Salt Mining Exploration, Infosa, Salinas, Saltcor, ITALKALI, Atisale, Lluka Resources mining, Bhavnagar Salt & Industrial Works, K?odawa Salt Mine, Exportadora De Sal SA de CV, Hubei Shuanghuan Science Technology, Cheetham Salt, and Dev Salt.
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