Global Sodium Chloride Market - Segmented into Grade, Application and Geography – Growth, Trends and Forecasts (2017 - 2022)
The market valued at USD XX million in 2016, is expected to reach USD XX million by 2022, registering a CAGR of XX%, during 2017-2022 ( the forecast period).
Sodium Chloride (NaCl), an ionic compound, is the major reason for salinity of sea water. Evaporation of sea water and mining of salt halites are the two major methods used, in the mass production of common salt. Sodium Chloride, as a chemical intermediate, is used in the production of a variety of chemicals. Industries, using this property of Sodium Chloride, are Chlor-alkali industry and Soda ash industry.
Apart from the above mentioned end user applications, it is also used in medicine, pharmaceutical, food and agriculture industries. Further, different grades of sodium chloride are produced to support its vast end users.
The sodium chloride market is driven by the increasing demand for NaCl as a chemical reagent and growing demand for pharmaceutical grade sodium chloride in North America and Europe. Some of the other factors that act as market driver are the increasing demand and consumption of preserved food items. The packaged food items are also eyeing a surge in the future and this can propel the growth of the sodium chloride industry.
Major market restraint is the impact of sodium chloride on the water quality. This impact on environment has become a great concern as wildlife, vegetation and aquatic life are being affected, due to the chloride discharge into the water bodies.
The sodium chloride market segmented into categories, based on different grades and application, which the compound majorly caters to. In the grade segmentation, rock salt, solar salt and vacuum salt are covered. The rock grade is expected to have the largest market share, along with the highest growth rate, during the forecast period. Based on application, the market is segmented into oil field, pharmaceutical, water treatment, textile, chemical processing, de-icing, agriculture, flavoring agent & food preservative and others. Preservative and flavoring application are estimated to have a major share and register a CAGR of XX%, during the forecast period.
The market, based on geography, is segmented into North America, South America, Asia-Pacific and Europe. APAC is the leading producer of Sodium Chloride followed by North America and Europe. The major reason, for the market domination in APAC region, is the increasing consumers’ demand, due to rapid growing population. Apart from this, the region also has a large number of chemical industries, which are directly dependent on Sodium Chloride for its production process.
Opportunities and Major Players
Opportunities associated with the emerging economies can accelerate the market, in the future.
Some of the major players in the market, on a global perspective, include:
• Wacker Chemie AG
• INEOS Salts
• Akzo Nobel N.V.
• Cargill Incorporated
Key Deliverables in the Study
• Market analysis for the global sodium chloride market, with region specific assessments and competition analysis on global scales
• Market definition, along with the identification of factors instrumental in changing the market scenarios and prospective opportunities
• Extensively researched competitive landscape section, with profiles of major companies along with their market shares
• Identification and analysis of the macro and micro factors that affect the global market
• A comprehensive list of key market players, along with the analysis of their current strategic interests and key financial information
• Insights on the major countries/regions, where this industry is growing and identify the regions that are still untapped
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook