Sodium Chloride Industry Forecast, Trends-Top Key Players, Size, Share, Demand, Opportunities And Forecasts To 2025

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Sodium Chloride Industry Forecast, Trends-Top key Players, Size, Share, Demand, Opportunities and Forecasts To 2025

Market Overview

Sodium chloride is universally known as a common salt with the chemical formula NaCl. It typically exists in the form of cubic crystals and used in excess quantities across several industries. It is generally obtained from evaporation of seawater or brine by solar and vacuum evaporation methods. Also, it is produced through its ore, salt halite, which is known as rock salt. It is widely produced in large quantities to serve the increasing demand in various end-use industries such as chemical, oil & gas, and wastewater treatment.

According to MRFR analysis, the Global Sodium Chloride Industry Forecast is projected to reach USD 21.3 billion at a robust CAGR of 3.4% during the assessment period. Sodium chloride finds applications in de-icing and production of chlor-alkali products such as soda ash, caustic soda, and chlorine, which accounts for over 70% of the production across the globe. The growing need for de-icing of snow in cold countries and low-cost raw material for the production of high-end chlor-alkali products are factors expected to fuel the demand for the product during the forecast period. Also, its use in food and beverages for enhancing the taste and for preservatives in pickles and processed meat is further expected to boost the market growth. The growing demand for common salt in less tapped markets, such as animal feed and pharmaceutical is likely to create lucrative opportunities for the market players.

Key players:

The key players involved in the Global Sodium Chloride Market are Cargill, Incorporated (US), Dow (US), K+S AKTIENGESELLSCHAFT (Germany), ICL Fertilizers (Israel), The Henrique Lage Salineira do Nordeste (Brazil), Dominion Salt (New Zealand), Tata Chemicals Ltd (India), Maldon Crystal Salt Co (UK), Akzo Nobel N.V. (The Netherlands), Compass Minerals (US), jinleichem (China), Rio Tinto Limited (Australia), and Morton Salt, Inc (US).

Regional Analysis:

The Global Sodium Chloride Market has been segmented into five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The Asia-Pacific market accounted for the largest share in 2018 and is projected to register the highest CAGR during the forecast period. This is largely attributed to the high consumption of common salt in chlor-alkali industries. China is the leading producer and consumer of sodium chloride in the world and accounts almost 25% of the total consumption on account of the increasing use of the salt in chemical, water treatment, and food and beverage industries. Australia & New Zealand, India, and South Korea are other prominent countries in the region. The North American market held the second-largest market share in 2018 owing to the growing consumption of NaCl in de-icing of snow in winter. The US is the major contributor in the region owing to the growing demand for pharmaceutical grade sodium chloride. Also, sodium chloride liquid solution is in demand for its use in surgical operations to clean tissues and body cavities. The European market accounted for a substantial market share in 2018 owing to the rising demand for rock salt in de-icing of snow from highways, grounds, roads, and airports. However, the demand for NaCl in de-icing activities varies considerably depending on climatic conditions. Germany is the key contributor in the region followed by Spain, Italy, France, and the Netherlands. The Latin American market is expected to register a healthy CAGR on account of favorable climate and geographical conditions to install large sea salt plants and open-pit mines at affordable prices. Brazil, Mexico, Argentina, and Chile are the prominent countries in the region. The Middle East & African market is estimated to grow at a steady CAGR owing to the presence of a limited number of salt extraction companies.

Segmentation:

The global sodium chloride market has been segmented on the basis of type, manufacturing process, grade, application, and region.

Based on type, the global sodium chloride market has been classified into rock salt, solar salt, and others (brine and vacuum).

By manufacturing process, the global sodium chloride market has been bifurcated into artificial evaporation and solar evaporation.

On the basis of grade, the global sodium chloride market has been categorized into food grade, pharmaceutical grade, and technical grade.

Based on application, the global sodium chloride market has been segmented into chemical intermediates, de-icing, water conditioning, flavoring agents and food preservatives, agriculture, animal feed additive, drilling fluids, pharmaceutical ingredient, and others.

Access Complete Report @ https://www.marketresearchfuture.com/reports/sodium-chloride-market-8133

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