The Industrial requisitions like chemical processing, water treatment, agriculture etc. essentially requires unrefined salt that is commonly termed as industrial salts. The global industrial salts market is predicted to grow with 2.50% CAGR during the forecast years of 2019 – 2027.
Determinants like demand from application industries, global snowfall conditions and lack of a good substitute for salt are important for driving the global industrial salts market.
The largest segment by product is the rock salt due to its cheapness and widespread application. They are relatively inexpensive, have wider utility in food processing, finds usage in the agriculture industry, and the public development sector uses unrefined rock salt in deicing for roads, sidewalks and driveways.
Strict government regulations and high dependency on external factors make the basic challenges the global market faces.
The global market for industrial salts spans the regions of North America, Europe, Asia Pacific and the rest of the world. The Asia Pacific region is growing very rapidly and also has accomplished to be the largest market globally mainly because of strong demand from the massive markets of India and China. Moreover, markets from several Asian Pacific countries are yet to reach their full potential. So, the industrial growth in this region is still ascending.
The chief retailers for the industrial salts market are China National Salt Industry Corporation (CNSIC), Amara Salt, Cargill Inc., CK Life Sciences International Holdings Inc., Compass Minerals, Delmon Salt Factory, Ineos Enterprises, Mitsui & Co. Ltd., Wilson Salt Company, Zoutman Industries, Tata Chemicals Limited and others. These companies are using organic and inorganic strategies for their growth.