Salt finds substantial application in the chemical manufacturing and water treatment industries. It is produced globally through production processes such as solar evaporation, brine extraction mining, and rock salt mining. Sea water is an unlimited source of salt, but salt production along the coastline is restricted by soil and weather conditions.
Technavio’s analysts forecast the global industrial salts market to grow at a CAGR of 2.48% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial salts market for 2016-2020. To calculate the market size, the report presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Salts Market 2016-2020
Technavio recognizes the following companies as the key players in the global industrial salts market: Cargill, CNSIC, Compass Minerals, INEOS, and K+S.
Other Prominent Vendors in the market are: Agrosal, Akzo Nobel, Artyomsol, Atisale, Cheetham Salt, Dampier Salt, Dev Salt, Dow Chemical, Exportadora De Sal, Henrique Lage Salineira, Hubei Shuanghuan Science and Technology, ICL Fertilizers, Irish Salt Mining and Exploration, ITALKALI, Kopalnia Soli Klodawa Spolka Akcyjna, Mitsui, Pakistan Mineral Development, Russolo, Salinas, Swiss Saltworks, Solana Tuzla, Südwestdeutsche Salzwerke, Tata Group, United Salt, Vietnam national Salt, and Wacker Chemie.
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends will be the increased production using solar evaporation process. The significant growth of the industrial salts industry in APAC has resulted in the rise in production of industrial salts by the solar evaporation process. Salt is produced by the following three primary production methods: seawater solar evaporation or inland brines, brine extracted through solution mining, and mined rock salt. Owing to the availability of salty lakes and longer coastlines in the developing countries in India and China in APAC, the salt manufacturers in these countries are producing the majority of their products by the solar evaporation process. Also, the simplicity and low cost of this process than its counterparts, is further driving the adoption of this process by the vendors in the global industrial salts market.”
According to the report, one of the key drivers will be the emergent consumption in different industries. The use of salt in varied industries is one of the primary growth drivers for the global industrial salts market. Use of salt in the emerging countries of APAC in different end-use industries acts as a boon for the global industrial salts market. Salt is a fundamental component in drilling fluids in oil and gas exploration for drilling of wells. It is useful in providing flocculation and enhancing the drilling fluid density to sustain the high down-well gas pressures. For instance, it is used in the conversion of uranium ore into uranium oxide. Similarly, it is useful in aluminum, copper, and steel processing.
Further, the report states that reduced demand in Europe will be one of the major challenges for the market. The reduced demand for salts in the developed countries of Europe, owing to the stagnant growth of the paper industry, is an another key market restraint faced by industrial salts vendors in European markets. Europe has been suffering from the decelerating growth of their paper and pulp industry during 2010-2015, resulting in a drop in demand for caustic soda, a major application of salt in the chemical industry. The demand for salt has also been adversely affected by the slow population growth in the developed countries of Western Europe.
Cargill, CNSIC, Compass Minerals, INEOS, K+S, Agrosal, Akzo Nobel, Artyomsol, Atisale, Cheetham Salt, Dampier Salt, Dev Salt, Dow Chemical, Exportadora De Sal, Henrique Lage Salineira, Hubei Shuanghuan Science and Technology, ICL Fertilizers, Irish Salt Mining and Exploration, ITALKALI, Kopalnia Soli Klodawa Spolka Akcyjna, Mitsui, Pakistan Mineral Development, Russolo, Salinas, Swiss Saltworks, Solana Tuzla, Südwestdeutsche Salzwerke, Tata Group, United Salt, Vietnam national Salt, Wacker Chemie.
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