Market Overview to 2023:
The global
industrial salts market has been segmented by source, manufacturing process,
application, and region.
By source,
the global industrial salts market has been divided into natural brine and rock
salt. The natural brine as a source is leading the market owing to the high
concentration of salt present in it. Natural brines contain other substances
such as magnesium chloride, magnesium sulfate, calcium sulfate, potassium
chloride, magnesium bromide, and calcium carbonate dissolved along with salt.
These substances may be as commercially valuable as the salt itself. The
benefit of extracting salt from natural brine is that the manufacturer can also
engage in the trading of these impurities and gain profits. Other advantage of
using brine as a source is that they can be artificially produced by dissolving
mined rock salt or by pumping water into wells drilled into rock salt. On the
other hand, rock salt is crystallized salt and may be pure or may contain
various amounts of these substances along with rocky impurities such as shale
and quartz.
Based on
manufacturing process, the market has been segmented into conventional mining,
solar evaporation, and vacuum pan evaporation. Among these, the vacuum pan
evaporation dominated the global market in 2017. This process involves
evaporation of salt brine by steam heat in large commercial evaporators, called
vacuum pans. This method yields a very high purity salt, fine in texture, and
principally used in those applications requiring the highest quality salt.
On the basis of the
application, the market has been segmented into chemical processing, de-icing,
water softening, drilling fluids, dye enhancer, filler, saline solutions, and
others. Among these applications, the chemical processing accounted for the
largest market share in 2017 owing to the use of industrial salt as major raw
material for production of liquid sodium, metallic sodium, chlorine, caustic soda,
sodium sulfate, sodium carbonate, hydrochloric acid, sodium bicarbonate, and
sodium nitrate.
Regional Analysis
Regional Analysis
Regionally,
the global market has been segmented into five regions, namely, Asia-Pacific,
North America, Europe, Latin America, and the Middle East & Africa.
The market
in Asia-Pacific dominated the global Industrial
Salts Market Size in 2017 due to the high demand from chemical,
textile, oil & gas, and pharmaceuticals industries, where industrial salt
is used as chemical intermediate, dye enhancer, in drilling fluid, and in
saline solutions. The rapid industrialization and urbanization in the region
are the primary factor affecting the growth of the industrial salts market.
The demand
from the de-icing and chemical processing applications in the North America and
Europe is the driving factor of the regional market.
Latin
America is expected to showcase significant growth owing to the presence of
large number of natural deposits and high production capacities coupled with
high exports.
Competitive Analysis
ü Cargill
ü Incorporated
ü K+S AKTIENGESELLSCHAFT
ü Compass Minerals
ü Tata Chemicals Ltd.
ü MITSUI & CO., LTD.
ü INEOS
ü Groupe Salins
ü Dominion Salt
ü Exportadora de Sal
ü The Bhavnagar Salt &
Industrial Works
No comments:
Post a Comment