Salt Market by Type, Application, and Geography - Forecast and Analysis 2019-2023

Global Salt Market: About this market

Technavio’s salt market analysis considers sales from rock salt, brine, solar salt, and other types. Our analysis also considers the sales of salt in APAC, Europe, North America, South America, and MEA. In 2018, the rock salt segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising number of applications of salt in various industries will play a significant role in the rock salt segment to maintain its market position. Also, our global salt market report looks at factors such as a wide range of industrial applications, product recalls in food industry, and growing popularity of salt alternatives in food products. However, product recalls in food industry and growing popularity of salt alternatives in food products and may hamper the growth of the salt industry over the forecast period.

Global Salt Market: Overview

Wide range of industrial applications

Industrial salt is widely used in multiple operations and for a wide range of purposes across various industries. Chemical processing, water treatment, and de-icing are among the major application areas where there is a high demand for industrial salt. Moreover, industrial salt is also being used in applications such as feedstock, metal processing, leather tanning treatment, rubber manufacturing, oil and gas exploration, pulp and paper production, pharmaceutical applications, and dying. Such wide-ranging applications of salt will lead to the expansion of the global salt market at a CAGR of over 2% during the forecast period.

Growing popularity of vacuum pan technology for salt production

The need to produce high-quality salt has prompted several vendors to opt for technologically advanced methods, such as the vacuum pan technology method, for salt production. This method involves the evaporation of salt brines using steam heat in large commercial evaporators called vacuum pans. The salt obtained from the vacuum pan technology method is mainly used in applications, such as food processing and chemical manufacturing, that require high-quality salt. Other major applications of vacuum pan salt include water softening and de-icing. Also, in certain countries, there has been a significant increase in the production of salt using the vacuum pan technology. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global salt market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global salt market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading salt manufacturers, that include Cargill Inc., Dow Inc., INEOS Group Holdings SA, K+S AG, Nouryon Chemicals Holding BV., Solvay SA, Südwestdeutsche Salzwerke AG (Agrosal), Tata Chemicals Ltd., Tate & Lyle Plc, and Wacker Chemie AG.

Also, the salt market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.