Industrial Salts Global Market Analysis, Trends, Growth, Research And Forecast 2033

The industrial salts market size has grown steadily in recent years. It will grow from $14.8 billion in 2023 to $15.53 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to chemical industry growth, water treatment applications, snow and ice control, food processing, metal processing.

The industrial salts market size is expected to see strong growth in the next few years. It will grow to $18.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to renewable energy initiatives, environmental regulations, urbanization and construction, health and wellness trends, economic development in emerging markets. Major trends in the forecast period include technological advancements in abe production, expansion of chemical industry, rising importance in water treatment, advancements in salt production technologies, investments in research and development.

Market Overview -
Industrial salt is a finely processed, white crystalline granules from natural sources. It is suitable for various applications, including detergents, textile dyeing, resin products, and other chemical processes.

Download Free Sample of Report -

https://www.thebusinessresearchcompany.com/sample.aspx?id=8899&type=smp

Rising Water Treatment Projects Propel Growth In The Industrial Salt Market
The growing number of water treatment projects is expected to propel the industrial salt market. Water treatment is the process of purifying water for utilization or restoring it to its natural form. Industrial salts are used in water treatment to remove impurities and undesired components, as well as to lower the waste concentration in water supplies used for both household and industrial applications or discharge it back into the environment. Additionally, various government initiatives are implemented to improve water quality, which favors the demand for water treatment projects. For instance, in March 2021, the U.S. Department of Energy (DOE), a US-based federal government that oversees U.S. national energy policy and manages the research and development on power, announced the investment of $27.5 million for 16 water infrastructure projects with modern technologies to reduce energy use in aging water infrastructure, especially in wastewater treatment that demands up to 2% of domestic electricity use each year. Therefore, the growing number of water treatment projects is expected to drive the growth of the industrial salts market.

Competitive Landscape -
Major companies operating in the industrial salts market report are Cargill Incorporated, Mitsui & Co.Ltd., Nouryon Chemicals Holding B.V, Rio Tinto Group, Compass Minerals International Inc., INEOS Group AG, K+S AG, Wacker Chemie AG, Akzo Nobel N.V., Occidental Petroleum Corporation, Solvay S.A., Dominion Salt Ltd., ICL Group Ltd., Salt Union Ltd., Swiss Saltworks AG, Atisale SpA, Salins Group, Kopalnia Soli Wieliczka SA, Dampier Salt Ltd., Morton Salt Inc., Qinghai Salt Lake Industry Co. Ltd., Henan Huayang Salt Chemical Co. Ltd., Shandong Haihua Group Co. Ltd., Ciech S.A., Tata Chemicals North America Inc., China National Salt Industry Corporation, Tata Chemicals Limited, Salinas Salt Company, San Francisco Salt Company, SaltWorks Inc.

Nippon Shokubai And Arkema Collaboration For Battery Cell Production
Strategic partnership is a key trend in the industrial salt market. Major players in the market are entering into a partnership to leverage each other's resources and expand in new markets. For instance, in May 2022, Nippon Shokubai, a Japan-based chemical manufacturer, partnered with Arkema. The aim of this partnership is to build a factory to produce ultrapure electrolyte salt, or LiFSI (Lithium bis(fluorosulfonyl)imide), a crucial part of battery cells for electric mobility. Arkema is a US-based manufacturer of specialty materials.

Browse Full Report @

https://www.thebusinessresearchcompany.com/report/industrial-salts-global-market-report

Key Segments -

The industrial salts market covered in this report is segmented -

1) By Source: Rock Salt, Natural Brine
2) By Manufacturing Process: Conventional Mining, Solar Evaporation, Vacuum Evaporation
3) By Application: Agriculture, Chemical Processing, Food Processing, Water Treatment, De-icing, Oil and Gas

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.