The research study covers the present scenario and growth prospects of the global industrial salt market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
Technavio chemicals and materials analysts highlight the following three factors that are contributing to the growth of the global industrial salt market:
- Rise in chloralkali chemicals production across the globe
- Demand for de-icing and anti-icing
- Emergent consumption in different industries
Rise in chloralkali chemicals production across globe
According to Chandrakumar Badala Jaganathan, a lead analyst at Technavio for additives, adhesives, and sealants, “The increase in chloralkali production across the world is one of the key growth factors for the industrial salts market. Salt is broadly consumed to produce essential industrial chemicals such as chlorine and synthetic soda ash through the brine electrolysis process.”
The substantial development of the construction and paper industries in India and China has resulted in the rise in consumption of chloralkali chemicals, which in turn is pushing the growth of the industrial salts market in APAC. Also, the market is profiting from the rise in consumption of chlorine in ethylene dichloride the production. This has become a major application of salt, an effect of the shale gas boom in the US. According to Technavio, the global chloralkali market will grow at a CAGR of 5.8%-6.2% during the forecast period.
Demand for de-icing and anti-icing
The increase in adverse effects of greenhouse gasses has resulted in climate imbalance across the globe, resulting in heavier snowfalls and colder winters in European and North American countries and hotter summers in the tropical countries. Salts are extensively used in the European and North American countries as an agent for de-icing and anti-icing. Owing to its effectiveness and cheaper cost than its counterparts, salt is widely used for road maintenance in these regions. For instance, salt is consumed in different forms for the de-icing and anti-icing applications depending on the weather conditions, such as pre-wetted salt for anti-icing and heated dry salt for de-icing at temperatures as low as -0.4°F.
Emergent consumption in different industries
The use of salt in varied industries is one of the primary growth drivers for the global industrial salts market. Salt is a fundamental component in drilling fluids in oil and gas exploration for drilling of wells. It is useful in providing flocculation and enhancing the drilling fluid density to sustain the high down-well gas pressures. For instance, it is used in the conversion of uranium ore into uranium oxide. Similarly, it is useful in aluminum, copper, and steel processing. It is also used in animal hides to restrict the microbial activity on the underside of the hides and to replace the moisture in the animal hides. Salts are also used in the separation of organic containments in dye manufacturing.
“The chemical industry in India and China is anticipated to display robust growth during the forecast period. The increase in consumption of salt in this industry is estimated to drive the global industrial salts market,” says Chandrakumar.
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