Industrial Salts Market Size Worth $24.14 Billion By 2027 | CAGR of 5.4%, Growing consumption of caustic soda and soda ash is resulting in rising demand for industrial salts in chemical processing industries | Reports and Data
Key players in the market include Compass Minerals America Inc., K+S AG, China National salt Industry Co., Cargill, Inc., Mitsui & Co. Ltd., Tata Chemicals Ltd., Exportadora de Sal de C.V., Dominion Salt Ltd., Rio Tinto Group, and Morton Salt, among others.
New York, Jan. 15, 2021 (GLOBE NEWSWIRE) -- *Growth supported by considerable surge in water treatment operations in industrial & municipal sewage systems requiring industrial salts, and increasing usage of industrial salts in chemical processing.*
*Market Size – USD 15.73 Billion in 2019, Market Growth - CAGR of 5.4%, Market Trends – Increasing usage in de-icing & water treatment.*
The global *industrial salts market* is projected to reach a value of USD 24.14 Billion in 2027. Growth of this market is driven considerably by factors such as rising usage of potassium chloride in metallurgical processing - such as surface treatment & galvanizing – and growing usage of industrial salts in wastewater treatment applications, and major surge in demand for industrial salts in chemical processing and agro-chemical manufacturing.
As an active ingredient of heavy-duty detergents, rock salts provide a fiber-friendly effect for fabrics and work as a grinding agent in dry-detergent processes. Types of industrial salt namely, refined mesh salt, superfine salt are used in the manufacture of liquid soaps, rinsing agents, and detergents to regulate overall viscosity. Industrial salts such as granulated industrial salts, undried solar salt, extra coarse rock salt, and chemical grade salt is considered to be the primary material for chemical manufacturing.
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*Further key findings in the report *
· In October 2017, Kissner Group Holdings LP, which is the US-based parent company of a leading bulk salt & specialty salt producer, announced its future acquisition of US Salt LLC, which is a leading evaporated salt business with a salt refinery unit in New York.
· Rise in domestic production of dyes and chemical pigments is also supporting growth of the market. Also, rising consumption of pesticides, pharmaceutical drugs, and cosmetics in Asia Pacific and considerable rise in production volumes of these products in countries such as China, Japan, and India is driving demand for industrial salts are other driving factors.
· The chemical processing segment accounted for largest revenue share of 56.4% in 2019, and is expected to register a CAGR of 5.9% during the forecast period. Growing consumption of caustic soda and soda ash is resulting in rising demand for industrial salts in chemical processing industries, and this is a major factor driving revenue growth of the chemical processing segment.
· Key players in the market include Compass Minerals America Inc., K+S AG, China National salt Industry Co., Cargill, Inc., Mitsui & Co. Ltd., Tata Chemicals Ltd., Exportadora de Sal de C.V., Dominion Salt Ltd., Rio Tinto Group, and Morton Salt, among others.
*Industrial Salts Market** By Source, By Product, By End-Use, and By Region, Is Expected To Reach **USD 24.14 Billion** By 2027, To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/industrial-salts-market*For the purpose of this report, Reports and Data have segmented into the global industrial salts market on the basis of End-Use, Source, Product, and Region:
· *End-Use Outlook (Revenue: USD Billion; 2017-2027, Volume: Kilo Tons; 2017-2027)$1*
· Chemical Processing
· Oil & Gas
· Water Treatment
· *Source Outlook (Revenue: USD Billion; 2017-2027, Volume: Kilo Tons; 2017-2027)$1$1*
· Salt Mines
· *Product Outlook (Revenue: USD Billion; 2017-2027, Volume: Kilo Tons; 2017-2027)*
· Rock Salt
· Salt in Brine
· Solar Salt
· Vacuum Pan Salt
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· *Regional Outlook (Revenue: USD Billion; 2017-2027, Volume: Kilo Tons; 2017-2027)*
· North America
· Asia Pacific
3. South Korea
4. Rest of APAC
· Latin America
2. Rest of LATAM
1. Saudi Arabia
3. Rest of MEA
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