Press release
Global vacuum salt market is projected to grow at a value CAGR of 3.4% by 2025
The global market for vacuum salt has been segmented on the basis of type, end use, application and region.
By region, Asia Pacific is the largest region with high growth opportunities owing to a growing industrial sector and increasing consumption in households. The region shows high market attractiveness and the Asia Pacific vacuum salt market is estimated to reach a value of above US$ 3.2 Bn by the end of the year of assessment.
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By type, the fine segment is likely to lead the global market with a high market share and value; however, this segment is projected to grow at a comparatively slow CAGR during the forecast period.
By end use, the industrial segment is expected to surpass the household segment with an exceptionally high margin owing to high demand for vacuum salt in the chemical industry. However, the household segment is projected to grow at a higher value CAGR of 4.2% during the period of forecast.
By application, the de-icing segment is expected to reach a noteworthy valuation by the end of the forecast period. The flavoring agent segment is poised to register a comparatively high CAGR during the period of forecast.
Global Market for Vacuum Salt: Dynamics Influencing Revenue Growth
The growth of the global vacuum salt market is influenced by various factors. The magnitude of these factors changes from region to region, thereby impacting the growth of the market in the respective geography. Various factors contributing to the growth of the global vacuum salt market include increasing production of beverage products and processed food, balanced demand from the water softening industry, demand for low sodium content salt, an expanding food and beverage sector across the globe, increasing demand for vacuum salt in animal feed production, rising production of preserved and processed meat products, rising demand for pharmaceutical grade vacuum salt, expanding production of chlor-alkali products, increasing demand for vacuum salt from the household sector and increasing use of vacuum salt in crude oil production where it is used in drilling and acts as a lubricant for the drill head and also as a stabilizer of the surrounding soil.
However, the advent of salt replacer, seasonality of de-icing products, high pricing of vacuum salt and abundance of high purity solar salt are posing threats to the growth of the global vacuum salt market.
Global Market for Vacuum Salt: Competitor Analysis
The extensive research report on the global market for vacuum salt covers analysis on the major players involved in the market. Key companies such as K+SAktiengesellschaft, Ciech S.A.,Tata Chemicals Ltd., AkzoNobel N.V., INEOS Group Limited, Dominion Salt Limited, AB Hanson and Mohring, Cerebos Ltd., and Kensalt Ltd. are profiled in this research report.
Global Market for Vacuum Salt: Key Forecast Analysis
The global vacuum salt market is projected to grow at a value CAGR of 3.4% to reach a valuation of around US$ 7,300 Mn by the end of the assessment year from a valuation of about US$ 5,600 Mn in 2017.
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