Sodium chloride, commonly known as table salt or simply salt, is a ubiquitous compound that plays a pivotal role in various aspects of our lives. Its significance ranges from culinary applications to industrial processes and beyond, making it one of the most essential and well-known chemical compounds.
The Sodium Chloride Market is currently valued at US$ 44.4 billion and is expected to reach US$ 67.4 billion by 2033. During the projection period, sodium chloride sales are anticipated to increase at a CAGR of 4.4%.
In order to enhance market expansion, the chemical industry is experiencing an increase in demand for sodium chloride to create products like dyes, paper, plastic, rubber, and detergents. Chemical feedstocks are heavily utilized in the creation of chemical products, which benefits the market. Manufacturing businesses are using sodium chloride more frequently to create polyester, cleaning supplies, and equipment.
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Additionally, the food and beverage industry is increasingly using sodium chloride to preserve food and improve its quality. During the projected period, market prospects are also likely to grow due to the need for sodium chloride, which is used to preserve commodities like cheese and meat.
The manufacturers are growing in the pharmaceutical industry to treat dehydration and excessive sweating and with increasing adoption of sodium chloride. In addition, there is a growing demand for sodium chloride from the healthcare sector to maintain blood pressure and relax patients’ muscles.
End-use Industries Propel the Sodium Chloride Market Growth
An increase in the demand for alkaline products such as chlorine, soda ash and caustic soda is impelling the sodium chloride market growth. There are a few more factors that are expected to bolster the market growth during the forecast period, such as the growing population, emerging industries and disposable income. The rising adoption of sodium chloride in various end-use industries such as water treatment, animal feed, agrochemicals and oil & gas is the key factor contributing towards market expansion.
A Glimpse of Top Countries in the Sodium Chloride Market
The US dominates the global market by recording a CAGR of 3.8% with a valuation of US$ 4.0 Bn during the forecast period. Growing disposable income and rising end-use industries such as chemical and food are advancing the US market size. Additionally, the US market growth is fueled by the increasing adoption of sodium chloride in the chemical sector to increase the production of chemical products.
China is estimated to capture a CAGR of 6.2% with a valuation of US$ 2.9 Bn during the forecast period. Increasing consumption of sodium chlorine for cleaning equipment in the healthcare sector is observed in China. The manufacturers are advancing the food and beverage industry to maintain the shelf life of food and preserve it for a long time in China.
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Key Takeaways:
- The sodium chloride market valuation is expected at US$ 67.4 Bn by 2033.
- The global market is increasing during the forecast period by witnessing a CAGR rate of 4.4%.
- The market in the United States is anticipated to grow at a CAGR of 3.8% through 2033.
- The China market is likely to uplift significantly during the forecast period with a CAGR of 6.2%.
- The Japanese market is expected to grow at a CAGR of 3.3% over the forecast period.
Who is Winning?
The prominent manufacturers and vendors are impelling the market size by increasing the production of sodium chloride all over the region during the forecast period. In addition, distribution channels, emerging suppliers and new market entrances are advancing the market opportunities. The adoption of different market strategies and millions of dollars in investment by the market players greatly contribute to boosting the maximum output in the market.
In Jan 2021, FDA announced legal approval for Aurobindo Pharma to manufacture and distribute 0.9% sodium chloride injection to the US healthcare industry.
Some of the leading companies operating in the market are
- Cargill incorporated
- Compass Minerals International.
- K+S AKTIENGESELLSCHAFT
- Wacker Chemie AG
- Akzo Nobel N.V.
- Tata Chemicals Limited
- Südwestdeutsche Salzwerke AG
- INEOS GROUP HOLDINGS S.A
- Hindustan Ltd
- Dampier Salt Limited
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Sodium Chloride Market by Category
By Grade:
- Agriculture
- Food
- Industrial
- Pharmaceuticals
By Source:
- Sea Water and Brine
- Solid
By Product Foam:
- Liquid
- Solid
By End Use:
- Agriculture
- Chemicals
- Deicing
- Food & Beverages
- Industrial
- Leather Industry
- Oil & Gas
- Pharmaceuticals
- Water Treatment
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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