Published on : Oct 06, 2016
The global market for industrial salt is extremely fragmented in nature with a presence of several local as well as international players. The market is expected to witness stiff competition in the next few years, owing to the rising demand for salts in diverse chemical industries. The increasing number of mergers and acquisitions and collaborations are expected to contribute significantly towards the growth of the overall market.
The growing demand for anti-icing and de-icing and increasing consumption in diverse industries are the key factors driving the demand for industrial salts in the global market. In addition, the consolidation of the global industrial salt market and growing production by solar evaporation process are expected to generate lucrative opportunities for the global market in the coming years. On the flip side, the reduced demand in Europe and stringent government regulations related to pollution are some of the primary factors estimated to restrict the growth of the global industrial salt market in the coming years.
On the basis of end use, the global market for industrial use has been classified into road de-icing, agriculture, water conditioning, and chemical processing. Among these, the chemical processing segment is expected to account for a massive share in the global market and register a significant growth rate in the next few years. A substantial amount of demand for industrial salts comes from synthetic soda ash and chloralkali manufacturers across the globe.
Among the key geographical segments, Asia Pacific accounts for a massive share in the global industrial salt market at present and is expected to remain in the leading position in the next few years. The high growth of this region can be contributed to a large number of consumers in India and China. In addition, the rapid development of the chemical industry in this region is expected to encourage the growth of the market in the next few years.
Some of the leading players operating in the industrial salt market across the globe are Irish Salt Mining and Exploration, United Salt, Vietnam national Salt, ICL Fertilizers, CNSIC, INEOS, Dow Chemical, Wacker Chemie, ITALKALI, Artyomsol, Russolo, Solana Tuzla, Cheetham Salt, Swiss Saltworks, Dampier Salt, Atisale, Akzo Nobel, Agrosal, Tata Group, Cargill, and Dev Salt.