Industrial Salts Market Size (2024 - 2029)

Industrial Salts Market Analysis

The Industrial Salts Market size is estimated at 233.41 Million tons in 2024, and is expected to reach 260.24 Million tons by 2029, growing at a CAGR of 2.20% during the forecast period (2024-2029).

The market was negatively impacted by COVID-19 in 2020. Industrial salts are used to produce chemicals like chlorine and caustic soda. Owing to the pandemic scenario, the chemical manufacturing units were on a temporary halt during the government-imposed lockdown, thus leading to a decrease in the demand for raw material needed in chemical processing. Furthermore, industrial salts are also consumed in paper manufacturing. According to the CONFEDERATION OF EUROPEAN PAPER INDUSTRIES (CEPA), the paper and board production by Cepi member countries decreased by 5% in 2020 compared to the previous year, mainly due to global demand impacted by the COVID-19 pandemic, which in turn negatively impacts the demand for the studied market. However, the usage of soaps and detergents that use industrial salts as a raw material during production has significantly increased during this situation, considering the personal hygiene and clean surrounding, which in turn stimulates the demand for the industrial salts market.

• Over the short term, the increasing demand for industrial salts for chemical processing and water treatment applications is expected to drive the market's growth.
• On the flip side, strict regulations imposed by the environmental protection agency (EPA) are expected to hinder the growth of the market.
• By application, the chemical processing segment is expected to dominate the market, owing to the increasing usage in manufacturing soda ash, caustic soda, and chlorine.
• The Asia-Pacific region dominated the market across the world, with the largest consumption from countries such as China and India.

Industrial Salts Industry Segmentation

Industrial salts are mainly consumed by the chemical industry to produce caustic soda and other chloralkali products and are also used in the manufacturing of polyester, glass, paper, tires, brass bleach, as well as used to set dye in the fabric. Industrial salts are available in various levels of purity, depending on the applications. The industrial salts market is segmented by Source, Manufacturing Process, Application, and Geography. By Source, the market is segmented into Rock Salt and Natural Brine. By Manufacturing Process, the market is segmented into Solar Evaporation, Vacuum Evaporation, and Conventional Mining. By Application, the market is segmented into Chemical Processing, Water Treatment, De-icing, Agriculture, Oil and Gas, and Other Applications. The report also covers the market size and forecasts for the industrial salts market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).