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 2016 and 2024. If the prediction holds true, the market will rise from a valuation of US$13.85 bn in 2015 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, an estimated 4.3% CAGR from 2016 through 2024. 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 a nearly 16% of the global sodium chloride market in 2015. 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
Sodium chloride (NaCl) is commonly known as salt. It occurs in the form of crystals that is used in large quantities across various industrial and consumer applications. Sodium chloride is an ionic compound with sodium and chloride ions in the ratio of 1:1. It is obtained by evaporation of sea water or brine by solar and vacuum evaporation methods. It is additionally produced by mining of salt halites, which is known as rock salt. Sodium chloride is largely used in applications such as chemical intermediates, deicing, flavoring and food preservatives, water treatment, and animal feed additive.
Sodium chloride is used in the manufacture of chlor-alkali products such as chlorine, soda ash, and caustic soda. These chlor-alkali products are used in the manufacture of various end-use products such as PVC, detergents, glass, dyes, and soaps. Hence, rising demand for sodium chloride from chemical intermediates is anticipated to drive the sodium chloride market. Sodium chloride is increasingly used as food preservative and flavoring agent as it offers properties such as color, distinct flavor, taste enhancer, and pleasant aroma. Food application is likely to be the fastest growing application segment. However, fluctuations in the snowfall is expected to hamper the growth of sodium chloride market during the forecast period.
Global Sodium Chloride Market: Scope of the Report
This report analyzes and forecasts the market for sodium chloride at the global, regional and country level. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global sodium chloride market. It also covers impact of these drivers and restraints on demand for sodium chloride during the forecast period. The report also highlights opportunities in the market.
The report includes detailed value chain analysis, which provides a comprehensive view of the global sodium chlroide market. Porter’s Five Forces model has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.
Global Sodium Chloride Market: Segmentation
The study provides a comprehensive view of the global sodium chloride market by segmenting it in terms of grades as: solar salt, rock salt and others (vacuum salt) and application such as chemical intermediate, deicing, flavoring agent & food preservative, water treatment, animal feed additive and others (including pharmaceuticals, etc). These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for sodium chlroide in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The global market size of sodium chloride has been provided in terms of volume and revenue. Market volume has been defined in kilo tons, while market revenue is in US$ Mn. Market numbers have been estimated based on key applications of sodium chloride across each region.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Global Sodium Chloride Market: Competitive Dynamics
The report comprises profiles of major companies operating in the global sodium chlroide market and competition matrix of major players. Companies such as Cargill Incorporated, K+S AKTIENGESELLSCHAFT, 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 are few leading players in the sodium chloride market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, SWOT analysis and recent developments.
The report segments the global sodium chloride market as follows:
Sodium Chloride Market - Grade Analysis
- Solar Salt
- Rock Salt
- Others (Vacuum Salt, etc.)
Sodium Chloride Market - Application Analysis
- Chemical Intermediate
- Flavoring Agent & Food Preservative
- Water Treatment
- Animal Feed Additive
- Others (Pharmaceuticals, etc.)
Sodium Chloride Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA