Global Industrial Salts Market Projected to Grow at 5.8% CAGR, Reaching $20.24 Billion by 2029

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What Will the Industrial Salts Industry Market Size Be by 2025?
The size of the industrial salts market has been consistently expanding over the past few years. The market growth is projected to rise from $15.43 billion in 2024 to $16.14 billion in 2025, with a compound annual growth rate (CAGR) of 4.6%. The escalation in the past can be linked to the progress in the chemical industry, utilization in water treatment, snow and ice management, food manufacturing, and metal processing activities.

What's the Long-Term Growth Forecast for the Industrial Salts Market Size Through 2029?
The market for industrial salts is set to experience robust enlargement in the coming years, expected to hit a value of $20.25 billion in 2029 with a 5.8% compound annual growth rate (CAGR). Several factors contributing to the growth during the forecast period include initiatives related to renewable energy, environmental rules, urbanization and construction activities, health and wellness developments, and economic progression in emerging markets. Significant trends in this period encompass the technological progression in ABE production, the expansion of the chemical industry, the growing significance in water treatment, developments in salt production technologies, as well as heavy investments in research and development.

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What Are the Key Growth Drivers Fueling the Industrial Salts Market Expansion?
The industrial salt market is anticipated to grow due to the increasing number of water treatment projects. The use of industrial salts in the purification of water or returning water to its original state by removing unwanted elements and reducing waste concentration is a common practice in both domestic and industrial settings. Enhanced water quality through numerous government initiatives further increases the demand for water treatment projects. For instance, according to the 2023 Global Water Awards report, there has been a considerable rise in the use of biogas at wastewater treatment plants, leading to the generation of over 200 MW of additional power during the year. This rise translates into more than 10% of the total power used in these plants now being generated internally. Additionally, the introduction of ADSWS's Project Scan, a sewage network monitoring program, made its first significant impact in 2023 by boosting efficiency and management in the wastewater sector. Therefore, it's predicted that the industrial salts market will see an influx due to the increasing number of water treatment projects.

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What Are the Key Trends Driving Industrial Salts Market Growth?
One of the primary trends in the industrial salt market is strategic partnerships. To leverage the resources of each other and to penetrate new markets, leading players in the industry are forming alliances. For example, Nippon Shokubai, a chemical manufacturer based in Japan, collaborated with Arkema in May 2022. The objective of this collaboration is to construct a manufacturing unit for ultrapure electrolyte salt, also known as LiFSI (Lithium bis(fluorosulfonyl)imide), a vital component for electric mobility battery cells. Arkema is a specialty materials manufacturer based in the United States.

How Is the Industrial Salts Market Segmented?
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 Companies Are Leading the Charge in Industrial Salts Market Innovation?
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.

Which Regions Are Leading the Global Industrial Salts Market in Revenue?
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.

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