Future Market Insights’ research indicates that over the forecast period of 2022 to 2032, the global market for industrial sodium chloride is expected to grow at an astounding compound annual growth rate (CAGR) of 4.2%. In 2022, the global market is projected to be valued at approximately USD 14,513.9 million. The top 3 countries are predicted to hold between 30 and 35 percent of the industrial sodium chloride market by the end of 2022, and sales of the product are expected to rise.
It goes without saying that the pandemic has impacted all facets of society including disruptions in the worldwide supply chain which had a major impact on the market for industrial sodium chloride. However, when gradually the infection curves started to decrease in 2022, FMI predicted that the demand for industrial sodium chloride predicts a CAGR of 4.2% by 2032. One important reason for highlighting this industry’s higher growth in the forecast period is the rising global demand for sodium chloride from the chlor-alkali industry.
According to the historic analysis, the demand for industrial sodium chloride grew at a CAGR of 4.0% from 2017 to 2021. Growth in the market is attributed to the constant demand for sodium chloride from industries like steel production for the automotive industry, agriculture industry, water treatment, and other industrial uses. The production of industrial sodium chloride is a simple process. Major players in the market are employing the sun evaporation production technique. Hence, there is no requirement for additional industrial investments. Global demand for industrial sodium chloride is increasing as a result of this factor.
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Key Takeaways
- The widespread expansion of sodium chloride in numerous industrial applications including soil stability, clearing ice and snow from roads, and water softening, presents providers in the global industrial sodium chloride market with a compelling demand opportunity. The demand for industrial sodium chloride is specifically strong in oil & gas, pharmaceutical, chemical, water treatment, agricultural, de-icing, and other industries.
- The application of sodium chloride is widely used in chemical processing. Three prominent products that have maximum utilization of industrial sodium chloride as raw materials comprise caustic soda, soda ash, and chlorine. Sodium chloride is a vital component in the manufacture of paper and pulp, rubber, and chlorine gas.
- In addition to that, it is also known as a popular source of sodium hydroxide and chlorine gas which are utilized in producing plastics, chemicals, agrochemicals, and textiles. Hence, the consumption of industrial Sodium Chloride is anticipated to increase along with the demand for these chemicals.
- The industrial sodium chloride market is gaining massive traction from several end-use industries globally. The requirement for industrial sodium chloride has witnessed popularity over the recent years and has greatly expanded in the end-use industries, which include the textile, chemical processing, water treatment, agricultural, and other industrial sectors.
Competitive Landscape
Key market players in the global industrial sodium market are fragmented and the market is known to be very diverse. Due to the presence of well-known players in the market, it is highly competitive and is subjected to intense rivalry in the market. In order to stay competitive, businesses in the industry are concentrating on a range of strategies, including partnerships, mergers, acquisitions, and collaborations.
In addition to that, a large number of suppliers are attempting to improve the quality of the products they offer. All these aforementioned factors imply that the industrial sodium chloride market is anticipated to possess enormous growth potential internationally in the years to come.
Key Companies Profiled
- China National Salt Industry Corporation (CNSIC)
- Cargill Incorporated
- The Dow Chemical Company
- K+S AKTIENGESELLSCHAFT
- ICL Fertilizers
- The Henrique Lage Salineira do Nordeste
- Dominion Salt
- Tata Chemicals Ltd.
- Maldon Crystal Salt Co.
- Akzo Nobel N.V.
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Key Segments Profiled in the Industrial Sodium Chloride Market Report
By Production Source:
- Seawater
- Rock Mines
- Brine
By End Use:
- Oil Field
- Pharmaceutical
- Water Treatment
- Textile, Chemical Processing
- De-Icing
- Agriculture
- Other
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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