Global Sodium Chloride Market is Estimated to Reach US$ 19.37 Bn by 2024; Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024: Transparency Market Research

ALBANY, New York, October 24, 2016 /PRNewswire/ --

Transparency Market Research has released a new market report titled "Sodium Chloride (Solar Salt, Rock Salt, and Others) Market  for Chemical Intermediate, Deicing, Flavoring Agent & Food Preservative, Water Treatment, Animal Feed Additive, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024" According to the report, the global sodium chloride market was valued at US$ 13.85 Bn in 2015 and is anticipated to reach US$ 19.37 Bn in 2024, expanding at a CAGR of 3.8% from 2016 to 2024.

Sodium Chloride (NaCl), commonly known as salt, occurs in the form of crystals. It is used in various industrial and consumer applications. Sodium chloride obtained by evaporation of seawater or brine through solar and vacuum evaporation methods is called lake or sea salt. Salt is also obtained by mining of salt halite, which is known as 'rock salt.' It is globally produced in large quantities to meet the demand in various industries such as chemicals, plastics, textiles, food & beverages, and personal care.

Based on grade, sodium chloride can be segmented into rock salt, solar salt, and vacuum salts. High purity salt is primarily used in chemical intermediates for the manufacture of chlor-alkali products and pharmaceuticals. Solar salt is the fastest growing grade of sodium chloride owing to the increasing demand in the chemical industry in Asia Pacific. Rock salt is majorly applied in deicing applications owing to its easy availability and high efficiency. However, demand for rock salt grade of sodium chloride is irregular, as it depends upon climatic conditions such as snowfall. In 2015, highway deicing application accounted for about 40% of total sodium chloride consumption in North America.

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In terms of consumption, chemical industry was the dominating segment of the sodium chloride market in 2015. Sodium chloride is used in the manufacture of chlor-alkali products such as chlorine, soda ash, and caustic soda. These chlor-alkali products are used in the manufacture of various end-use products such as PVC, detergents, glass, dyes, and soaps. Flavoring and food preservative is expected to be the fastest-growing application segment, expanding at a CAGR of 3.8% from 2016 to 2024. Sodium chloride is increasingly used as food preservative and flavoring agent as it offers properties such as color, distinct flavor, taste enhancer, and pleasant aroma. Demand for sodium chloride in deicing salt business constitutes deicing of snow on public and private areas such as roads, highways, airports, public & private grounds, and airplanes. Sodium chloride is preferred over other salts such as calcium chloride, potassium chloride, and magnesium chloride in deicing applications owing to its easy availability and inexpensive nature. Demand for sodium chloride in the water treatment application is expected to rise at a moderate pace owing to its novel applications. Sodium chloride is also used in the manufacture of animal feed, as it enhances nutrient contents of the feed. Other applications of sodium chloride include pharmaceutical, agrochemicals, and personal care.

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Key players in the sodium chloride market include Cargill Incorporated, K+S AKTIENGESELLSCHAFT, Akzo Nobel N.V., Tata Chemicals Ltd., Dampier Salts, China National Salt Industry Corporation, Compass Minerals International, Inc., Wacker Chemie AG, Südwestdeutsche Salzwerke AG, INEOS Salts, Swiss Salt Works AG, and Cheetham Salt.

The report segments the global sodium chloride market as follows:

Sodium Chloride Market - Grade Analysis 

• Solar Salt
• Rock Salt
• Others (Vacuum Salt, etc.)

Sodium Chloride Market - Application Analysis 

• Chemical Intermediate
• Deicing
• Flavoring Agent & Food Preservative
• Water Treatment
• Animal Feed Additive
• Others (Pharmaceuticals, etc.)

Sodium Chloride Market - Regional Analysis 

• North America
  • U.S.
  • Canada
• Europe
  • France
  • U.K.
  • Russia
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • Egypt
  • South Africa
  • Rest of MEA

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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