Sodium Chloride Market Size, Share & Industry Analysis, By Source (Rock Salt, Seawater, Others), By Grade (Chemical Grade, Food Grade, Deicing, Others), By Application (Chemical Production, Deicing, Water Conditioning, Agriculture, Food Processing, Pharmaceuticals, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI104599 | Status : Ongoing

KEY INDUSTRY INSIGHTS

Sodium chloride commonly known as salt, is a white, crystalline, ionic compound made from sodium and chloride and has chemical formula NaCl. It is the reason for the salty taste of seawater and primarily obtained from seawater. It is key condiment and preservative used in food and industrial sector. Bulk quantities of salt are used as feedstock to produce sodium and chlorine derivatives due to easy availability and cost-effectiveness.

Increasing demand from industrial sector for feedstock chemical for various chemical synthesis. High demand from food & beverages sector for condiment and preserving agents shall drive the market. Additionally, high demand from various cold regions to prevent formation of ice on roads and pavements due to the property of salt to depress the freezing point of water shall positively impact market growth.

However, introduction of various other chemicals with enhanced properties to be used as preservatives and deicing agents is expected to hamper the market growth.

Key Market Driver -

Increasing demand for polyester fibers and PET bottles.

Key Market Restraint -

Hazardous nature and availability of safer and greener alternatives.

Market Segmentation:

Based on source, the global sodium chloride market is segmented into rock salt, seawater, and others. Based on grade, the market is segmented into chemical grade, food grade, deicing and others. Based on application, market is segmented into chemical production, deicing, water conditioning, agriculture, food processing, pharmaceuticals, and other applications.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global Sodium chloride market consists of global & regional players operating. Some of the key players in the market include Cargill Inc, Nouryon, Tata chemicals, INEOS, Wacker Chemie, Dampier salts, Akzo Nobel, Cheetham salts, Swiss Salt Works, and others.

Key Insights

New Advancements in Production Technologies

Key Trends in the Sodium Chloride Market

New Product Launches, Expansions, Key Players

Ranking of Key Players in the Market

Regional Analysis:

The market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia pacific is accounted for the largest market attributed to the high consumption of sodium chloride for chemical production from the large chemical manufacturing base. Rapidly growing food industry is expected to bolster the market growth. North America is expected to be the fastest growing region attributed to high demand for deicing application. Europe is expected to show substantial growth due to rapid industrialization and resulting increase in demand for feedstock chemicals. Latin America & Middle East & Africa shall exhibit sluggish growth by the end of forecast period.

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Segmentation

ATTRIBUTE	DETAILS
By Source	Rock Salt Seawater Others
By Grade	Chemical Grade Food Grade Deicing Others
By Application	Chemical Production Deicing Water Conditioning Agriculture Food Processing Pharmaceuticals Others
By Geography	North America (U.S., and Canada) Europe (Germany, UK, France, Italy, and Rest of Europe) Asia Pacific (China, India, Japan, and Rest of Asia Pacific) Latin America (Mexico, Brazil, and Rest of Latin America) Middle East & Africa (UAE, South Africa, Saudi Arabia, and Rest of Middle East & Africa)

Sodium Chloride Industry Developments

In July 2019, Tata chemicals battles with the misinformation campaign against its salt brand. According to a report, the Tata salt brand acclaimed that the salt contained alarming level of potassium ferrocyanide, an anti-caking agent used to prevent lumping of salt.

In October 2017, Akzo Nobel specialty chemical business completed the expansion of a production facility in Denmark which supplies the essential pharma grade sodium chloride for healthcare industry

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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