Global salt market segmentation by type and application
Technavio’s report on the global salt market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type, including rock salt, brine, and solar salts. As projected in 2017, around 40% of the market share originated from rock salt. Rock salt is used as a flavor enhancer while cooking and to cure food such as bacon and fish.
Based on application, the global salt market has been segmented into chemical processing, road de-icing, and food processing. As of 2017, 50% of the market share came from chemical processing.
“Due to the presence of chloride that is used in the manufacturing of many chlorine-based chemicals such as magnesium chloride, magnesium sulfate, calcium sulfate, potassium chloride, magnesium bromide, and calcium carbonate, salt is used in the chemical industry for chemical processing. Salt is used in the manufacturing of chlorine since it is an abundant source of chlorine ions. The main consumers of salt in the chemical industry are chlorine and caustic soda manufacturers,” says a senior analyst at Technavio for food research.
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Salt market: competitive vendor landscape
The global salt market is highly fragmented and competitive. Many established players like Akzo Nobel, Cargill, Compass Minerals, INEOS, K+S, and Solvay dominate the market. With big production facilities across the world, these players have a vast geographical presence. Players in the market offer a broad product portfolio and provide a complete range of solutions, and their operations are often subject to intense regulatory scrutiny during the forecast period.
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Other topics covered in the report:
- Increasing production of chlor-alkali chemicals
- Growing demand for PVC
- Ban on use of aluminum salt in deodorants
- Growing demand for packaged foods
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