Industrial Salts Market Size, Share, and Trends 2024 to 2034

Industrial Salts Market Size and Companies

The global industrial salts market size was estimated at USD 15.3 billion in 2021 and it is expected to reach around USD 26.8 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 6.43% over the forecast period 2022 to 2030.

Key Takeaways

• The Asia-Pacific region has accounted highest revenue share 39.4% in 2021.
• By source, the natural brine segment garnered highest revenue share 69% in 2021.
• By manufacturing process, the conventional mining segment contributed 52% market share in 2021.
• By application, the chemical processing segment has generated 47% in 2021.

Sodium chloride is derived by using seawater and rock salt for its extraction. This industrial salt is used in agriculture, water treatment, de-icing, chemical processing. When it comes to the usage of industrial sales for the chemical industry it is used in the production of chlorine caustic soda and ash soda. Caustic soda is used in the production of paper and pulp, detergents and soap, chemical products and petroleum products.

For manufacturing glass soda ash is produced across the world and it is also used in the production of soaps detergent in the powdered form and the rechargeable batteries soda ash is also used in the food industry metallurgical processes, pharmaceutical and cosmetic industries. All of these factors or the applications of industrial salts will help in the growth of the market in the coming years.

Growth Factors  

The demand for industrial salt is expected to grow in the coming years due to the manufacturing of caustic soda and chlorine on a large scale. The demand for the product is expected to grow in the coming years as it is used in many industries. Agriculture chemical processing and water treatment are the major applications of industrial salts. For the production of chlorine and caustic soda industrial salts are used maximum in chemical industries across the world. The industrial salts market is expected to grow well in the coming years as there is no other alternative which is cost effective.

The other products that are available in the market are expensive hence they are not preferred by many industries. There are many local manufacturers and global manufacturers of industrial salts that manufacturer industrial salts in various forms and these salts are provided to various industries. As the raw material which is used in the manufacturing of the industrial salts is derived from the natural resource this market is extremely price sensitive and the amount of profits earned by the organizations are also less.

• For water treatment and chemical processing industrial salt is used on a large scale and the demand for it will continue to grow in the coming years.
• Industrial salt will be used maximum for chemical processing as it helps in manufacturing chlorine caustic soda and soda ash.
• The availability of industrial sales in various forms will also help in the market growth as it helps in providing a large range of product portfolio.

Industrial Salts Market Scope

Industrial Salts Market Dynamics

What are the drivers of the industrial salts market?

• Application of industrial solves in many areas- Industrial salt is used in many different applications. One of the major applications of industrial salts is the chemical processing industries. In the chemical processing industries industrial salt is used as the raw material. It is used in the manufacturing of soda ash chlorine as well as caustic soda. In the recent years these chemicals are in great demand and this will drive the market growth in the coming years. In the countries like China as well as India the industrial salts market will grow fast as the demand for it has increased.
• Plenty salt reserves- There's a large-scale availability of the reserves of salt which happens to be the raw material through which the industrial salts are extracted. The availability of salt results will help in meeting the demand of various countries. The use of the industrial salts is expected to be more in the Asia Pacific region due to a number of projects undertaken by the government. The use of industrial salts in water treatment is expected to help in the growth of the market as 27 projects of water treatment are under construction in India. It is used for the purification and the softening of the water.

What are the challenges in the industrial salts market?

• Availability of the salt pans or the salt mines on lease- Salt mines or the salt pans are provided on lease basis to the organizations for the extraction and usage of rock salt in the manufacturing of the industrial salts. As there is no ownership, the availability of these sites is not constant. This is one of the major challenges that will hamper the growth of the market in the coming years.
• Health and environmental issues- When it comes to the usage of industrial salt in various industries for the production of other materials a large amount of emissions come out of these industries which are harmful for the environment and stringent regulations of various nations regarding the compliance for carbon emissions will also hamper the growth of the market in the coming years.
• Logistics services are cost intensive- The availability of a warehouse or the fulfillment of the need by any provider decides the cost of logistics. The in transparent market of warehousing is another challenge that the industry faces.

What are the opportunities in the industrial salts market?

• Unavailability of cost-effective alternatives- In order to manufacture the products like ethylene dichloride industrial salts are used and this is the only available option which is cost effective. It shall provide major opportunities for the growth of the market in the forecast period. 50% of industrial salts are demanded for the chemical processes across the world.
• Rapid industrialization and urbanization- the demand for different types of chemical products has increased in the recent years which has created more demand for the industrial salts.
• Segmental Insights

Source Insights

On the basis of the source, the natural brine segment is expected to have the largest market share in the coming years period this segment has dominated the market in the past due to urbanization and industrialization throughout the world. For manufacturing PVC industrial salts are used on a large scale and it is also used in the manufacturing of inorganic chemicals. Highly concentrated constituents like molecules elements and oils which are present in natural brine makes them a better option for manufacturing the industrial salts.

Brains are extremely saline as a large amount of dissolved materials are present in brines. It is used for the water purification procedure and it is also used in softening of water. the need for detergents and other chemicals used in laundry are growing in the North American market. And the increased use of such products will help in the growth of the market in the coming years.

Manufacturing Process Insights

On the basis of the manufacturing process, the conventional mining segment is expected to have the largest market share in the coming years. As plenty salt mines are available throughout the world this segment is expected to grow well in the coming years. In this procedure underground salt deposits are extracted through mining.

Evaporation is the procedure used for extraction of the salt. Cheap resources and cost-effective resources will be instrumental in the growth of the market. As the number of innovations in the market have increased for the production of the pesticides and other products used in agriculture there shall be an increased need for the industrial salts.

Application Insights

On the basis of application, the chemical processing segment is expected to have the largest market share in the coming years as it has dominated the market even in the past. Manufacturing of soda ash and caustic soda is done with the help of industrial salts in chemical industries. As the need four different types of petroleum products has increased due to rapid urbanization the demand for industrial salts is expected to grow in the coming years. Glass is used in a lot of modern constructions and it is also used in the display of electronic products these two applications will also increase the demand for industrial salts in the coming years. 

The demand for the cosmetic products and the pharmaceutical products has also increased to a great extent in the recent years especially after the outbreak of the COVID-19 pandemic and the use of industrial salts in the manufacturing of these products will help in the growth of the market during the forecast period. The extensive use of industrial salts in various industries will drive the market growth during the forecast. Most of the products which are used in the manufacturing of the end products are making use of industrial salts as there are no other alternatives available that are cost effective.

Industrial Salts Market Share, By Region, 2021 (%)

Why Asia Pacific region is dominating in the industrial salt market?

Asia Pacific region has dominated the industrial salt market in the past with the largest market share in terms of revenue and it will continue to grow in the coming years. Rapid industrialization and urbanization are two main factors that have resulted in the growth of the market in the Asia Pacific region.

Increased need for cleanliness and health care has created more demand for various products that are used as cleansing agents and these cleansing agents are manufactured with the help of industrial salts hence the market is expected to grow well in the coming years for the Asia Pacific region. 

The demand for the disinfection products and laundry detergents has grown to a great extent. As the population of various nations in the Asia Pacific region like China and India is huge the demand for different types of food products will also help in the growth of the market in the coming years.

Industrial salts are used in the agricultural sector and they increased use of this product to meet the growing demands of food in the various nations of Asia Pacific region will help in the growth of the market in the coming years period industrial salts are used in the manufacturing of herbicides and pesticides. The government of various regions are making investments which will help in the growth of the market in the coming years.

The market in China is growing at the largest pace and the amount of salt produced in China is maximum as compared to any other nations in the Asia Pacific region. Out of the total salt production across the globe 8.8% of it is manufactured in India.

Key Market Developments

• The plant that manufacturers the industrial salts, of the Archean group, which has the capacity of about 3 million tons was acquired by Tata chemicals in the year 2021, This would help in boosting the business of the company.

Industrial Salts Market Companies

• Cargill, Inc.
• INEOS
• K+S AG
• Mitsui & Co. Ltd.
• Nouryon
• Rio Tinto Group 
• Compass Minerals America Inc.
• China National Salt Industry Co.
• Dominion Salt Ltd
• Tata Chemicals Ltd.

Segments covered in the report

By Source

• Rock Salt
• Natural Brine

By Manufacturing Process

• Conventional mining
• Solar evaporation
• Vacuum evaporation

By Application

• Agriculture
• Chemical processing
• Food processing
• Water treatment
• Deicing
• Oil and gas
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)