Global Sodium Chloride Market: Snapshot
The global market for sodium chloride is primarily driven by the significant rise in demand for chlor-alkali substances and packaged food products globally. The market will gain sizeable traction from the demand across the flourishing food and beverages and chemicals industries across emerging market but will bear the brunt of the declining demand for deicing application in regions such as North America and Europe.
Transparency Market Research estimates that the market will exhibit a moderate 3.8% CAGR over the period between 2017 and 2024. If the prediction holds true, the market will rise from a valuation of US$14.89 bn in 2017 to US$19.37 bn in 2024.
Usage in Manufacturing of Chemical Intermediates to Remain Most Promising Application Area
Of the key applications of sodium chloride in the global market, applications across the chemical industry helped the global sodium chloride gain the most prominent share in revenue in 2015. In the chemical industry, sodium chloride is used in the manufacture of chlor-alkali products such as chlorine, soda ash, and caustic soda. These products are further used for manufacturing a wide range of products such as PVC, detergents, glass, dyes, and soaps. The rising global demand for these products will be a key factor driving the demand for sodium chloride in chemical applications in the next few years.
Over the forecast period, the market is expected to witness the most promising growth across the application segment of flavoring agent and food preservative. The flourishing global market for packaged food will be the key factor leading to the high demand for sodium chloride across this application segment over the forecast period.
The application segment of deicing, which involves the use of salt for deicing of snow on public and private areas such as roads, highways, airports, public and private grounds, and airplanes, accounted for significant share of the global sodium chloride market in the recent past. However, the segment is expected to witness a decline over the forecast period owing to the fluctuations in snowfall in key regional markets such as Europe and North America. The segment, as a result, is expected to account for a nearly 15% of the market by 2024.
Decline across Deicing Application to Hamper Growth in North America and Europe
Asia Pacific holds the top spot in the global sodium chloride market in terms of both production and consumption. The region is also expected to remain the most lucrative market for sodium chloride over the forecast period, chiefly owing to the rising demand from end-use industries such as water treatment, chemicals, and food and beverages. The rising demand for chloro-alkali products in the chemical industry are likely to provide lucrative opportunities for the sodium chloride market in Asia Pacific. Increase in disposable incomes and changing food habits are expected to provide significant growth opportunities owing to the rising consumption of packaged and preserved food products.
The sodium chloride markets in North America and Europe are mature and less lucrative than Asia Pacific. However, North America and Europe are also the largest deicing salt consuming markets and will continue to account for a sizeable share in the global sodium chloride market over the forecast period. In the North America market, the U.S., which currently holds a significant share in the regional market’s revenues, is likely to continue to remain the primary market for deicing and chemical intermediates segments; Canada is expected to offer higher market potential for deicing.
Some of the global sodium chloride market’s most influential players are Cargill Incorporated, Akzo Nobel N.V., Tata Chemicals Ltd., Dampier Salts, China National Salt Industry Corporation, Compass Minerals International, Inc., Wacker Chemie AG, Südwestdeutsche Salzwerke AG, INEOS Salts, Swiss Salt Works AG, and Cheetham Salt.
Global Sodium Chloride Market: Overview
The research report on the sodium chloride market analyzes the global sodium chloride market both at regional and global level wherein revenue estimates are provided in (US$ Mn) and volume estimates in (Kilo tons). The objective of the sodium chloride market report is to identify market outlook and forecast for all stakeholders.
The analysis of the sodium chloride market is presented for 2017 – 2024 forecast timeframe wherein 2016 is the base year and 2015 values provided for historical reference. In order to analyze the market size and forecast, the sodium chloride market has been broken down in terms of grade, and application. The growth behavior of each segment in terms of grade and application is analyzed for key geographical segments of sodium chloride.
In order to identify major competing players, strategic developments, trade dynamics, and supply-demand scenario have also been looked into in this report.
Global Sodium Chloride Market: Report Highlights
The report provides answers for some pertinent questions for insights into sodium chloride market. It provides in-depth analysis by identifying major sodium chloride providers with focus on competitive analysis and strategic developments. It also offers perspective on the upcoming developments.
Moreover, the report discusses important qualitative and quantitative details regarding investments, regulatory scenario, and price trends that influence the sodium chloride market. The report also includes Porter’s five forces analysis, distribution and trade scenario, company market share, value chain analysis, and attractiveness analysis by application for each region.
Global Sodium Chloride Market: Research Methodology
The making of the report involved top-down approach to assess market numbers for each region. Bottom-up approach has been used to counter-validate the derived numbers for grade and application type. Underlying estimation factors include growth of the sodium chloride industry, production of sodium chloride, substitute analysis, and environmental scenario across regions.
Industry analysis factors looked into include strategic partnerships, technology upgrade, mergers & acquisitions, and availability in relation with the global competitive scenario. Primary and secondary research was carried out to understand and arrive at trends, which were used to forecast the sodium chloride market.
Secondary and primary research was conducted to understand and arrive at trends, which were used to forecast the sodium chloride market. Secondary research sources typically reached out for the study include company websites, annual reports, financial reports, SEC filings, and investor presentations. National government documents, statistical databases, and market reports are some other secondary sources reached out for the study. Some other secondary sources reached out for the study include news articles, company specific websites, and press releases.
The concluding section of the report discusses the competitive outlook of the sodium chloride market at length. It mentions key companies in the sodium chloride market along with a detailed competitive profile of each of them. Business overview, product innovations, competitive outlook, and financials are some of the parameters key players in the sodium chloride market have been profiled. A SWOT analysis of key players through 2024 has been included as well.