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 Trends 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 Trends 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 Trends 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 Trends has been segmented on the basis of type,
manufacturing process, grade, application, and region.
Based on type, the global Sodium Chloride Market Trends has been classified
into rock salt, solar salt, and others (brine and vacuum).
By manufacturing process, the global Sodium Chloride Market Trends has been
bifurcated into artificial evaporation and solar evaporation.
On the basis of grade, the global Sodium Chloride Market Trends has been
categorized into food grade, pharmaceutical grade, and technical grade.
Based on application, the global Sodium Chloride Market Trends 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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