Global Industrial Salts Market Projected to Surpass $20.25 Billion by 2029 with 6% Annual Growth

What industry-specific factors are fueling the growth of the industrial salts market?
The increasing amount of projects related to water treatment are predicted to push the industrial salt market forward. The process involved in water treatment intends to purify water for use or reestablish it to its natural state. Industrial salts play a role in this by removing unwanted elements and impurities, and reducing the concentration of waste in water sources used for both residential and industrial purposes or releasing it back into its natural habitat. Further, the boost in demand for water treatment projects is encouraged by numerous government efforts aimed at enhancing the quality of water. As an example, in 2023, a publication of Global Water Awards indicated a notable rise in the use of biogas at wastewater treatment facilities, contributing to over 200 MW of extra power generation throughout the year. This increase suggests that more than 10% of the total energy usage at these facilities is now produced internally. In addition, the execution of ADSWS's Project Scan for monitoring the sewage network marked its first significant impression in 2023, aiding in better efficiency and administration within the wastewater industry. Hence, the escalating number of water treatment projects are anticipated to fuel the expansion of the industrial salts market.

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What Is the projected market size and growth rate for the industrial salts market?
The size of the industrial salts market has been progressively increasing over the recent years. The prediction is that it will escalate from $15.43 billion in 2024 to $16.14 billion in 2025, growing at a compound annual growth rate (CAGR) of 4.6%. Factors attributable to the growth during the historic period encompassed the expansion of the chemical industry, applications in water treatment, snow and ice control, food processing, and metal processing.

The market for industrial salts is projected to witness significant expansion in the upcoming years. The market is expected to swell to $20.25 billion by 2029, with a compound annual growth rate (CAGR) of 5.8%. The predicted growth during the forecast period can be traced back to factors such as initiatives in renewable energy, environmental laws, urbanization and construction activities, health and wellness movements, and the economic growth of emerging markets. Key trends for the forecast period encompass advancements in ABE production technology, growth of the chemical industry, increased significance of water treatment, developments in salt production techniques, and investment in research and development.

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What new trends are reshaping the industrial salts market and its opportunities?
Forming alliances has emerged as a significant trend in the industrial salt industry. Major market participants are collaboratively engaging to make joint use of respective resources and penetrate different markets. For instance, in May 2022, Nippon Shokubai, a chemical manufacturing company based in Japan, formed a partnership with Arkema. The objective of this alliance is to construct a factory for manufacturing ultrapure electrolyte salt, or LiFSI (Lithium bis(fluorosulfonyl)imide), a crucial component of battery cells used in electric vehicles. Arkema is a specialty materials producer that hails from the US.

What major market segments define the scope and growth of the industrial salts market?
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

Subsegments:
1) By Rock Salt: Halite, Evaporated Rock Salt, Industrial Grade Rock Salt
2) By Natural Brine: Sea Salt Brine, Spring Water Brine, Salt Lake Brine

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Which region dominates the industrial salts market?
Asia-Pacific was the largest region in the industrial salts market share in 2024. The regions covered in the industrial salts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the industrial salts industry growth?
Major companies operating in the industrial salts market 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.

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What Is Covered In The Industrial Salts Global Market Report?

• Market Size Forecast: Examine the industrial salts market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the industrial salts market for a structured understanding.
• Key Players Overview: Analyze major players in the industrial salts market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the industrial salts market.
• Segment Contributions: Evaluate how different segments drive overall growth in the industrial salts market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the industrial salts market.
• Industry Challenges: Identify potential risks and obstacles affecting the industrial salts market.
• Competitive Landscape: Review strategic developments in the industrial salts market, including expansions, agreements, and new product launches.

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