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.
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According to MRFR analysis, the global sodium chloride market 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. Moreover, easy availability and easy production of salt in coastal
countries to convert the companies into vertically integrated units further
create more opportunities for the producers of common salt. For de-icing, low
purity of salt, i.e., rock salt, is required which is available at a very low
cost, whereas for high-end applications in chemical intermediates high-purity
of NaCl is required which varies from region to region, which is expected to be
the prominent trend in the coming years.
However, increasing awareness regarding high salt intake has
severely reduced its consumption, which is likely to hinder the global market
growth during the forecast period. Also, complexities encountered during the
storage of sodium chloride salts are further expected to restrain the market
growth in the coming years.
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.
Target Audience:
·
Traders and distributors of sodium
chloride
·
Sodium chloride producers
·
Potential investors
·
Production process industries
·
Raw material suppliers
·
Nationalized laboratories
·
Government bodies
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