Global Sodium Chloride Market: Snapshot
The global sodium chloride market is positively influenced by increased demand for packaged food products. Growing chemical industries especially in developing countries such as China and India are boosting demand for chlor-alkali products such as chlorine, soda ash, and caustic soda. Rising demand for sodium chloride from several industries including chemicals, food and beverages, and de-icing is pushing growth of the market. However, difficulties encountered during storage of sodium chloride salts and low profit margins are some of the factors crimping market growth. Nevertheless, extensive use of sodium chloride salts in deicing industries is predicted to create opportunities for players in the market.
The report has some interesting figures for the global sodium chloride market – it is predicted to attain the value of US$19.37 bn by the end of 2024, increasing from a US$14.89 bn valuation obtained in 2017. The market is expected to expand at a CAGR of 3.8% over the forecast period of 2017-2024.
Application in Manufacture of Chlor-alkali Products Catapults Demand
The report has segmented the world sodium chloride market on the basis of application and grade. On the basis of application, the market could see a classification into chemical intermediate, deicing, water treatment, flavoring agents and food preservative, animal feed additives, and pharmaceuticals. Amongst all, chemical intermediate dominated the market in the recent past and is expected to continue dominating over the forecast period. Chlorine, soda ash, and caustic soda are extensively used in the chemical industry in various products including PVC, dyes, glasses, detergents, and soaps. Rising demand for these products globally is a key factor anticipated to propel growth of the market.
Nevertheless, the flavoring agent and food preservative segment is gaining momentum and expected to contribute substantially to the growth of the world sodium chloride market in the coming years. Flavoring agents and food preservatives are generally used in the packaged food industry. Swelling demand for packaged food is boosting the use of sodium chloride in the food and beverages industry.
On the basis of grade, the world sodium chloride market is classified into rock salt, solar salt, and vacuum salt. Of these, vacuum salt is contributing substantially to the revenue of the market and expected to continue to remain dominant in the near future. Nevertheless, solar salt is predicted to find considerable growth during the forecast period. Solar salt and vacuum salt are extensively used in water treatment processes, drilling applications, and deicing industries. Growth in these industries could eventually support the rise of the market.
High Demand from End-use Industries Helps Asia Pacific to Hold Substantial Stake
On the basis of region, the international sodium chloride market is mainly classified into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Asia Pacific is holding a substantial share of the market owing to the rise of profit-making industries including chemical and food and beverages. High growth in these industries are offering lucrative opportunities for key players as well as new entrants.
Markets in North America and Europe are experiencing steady growth because of their ‘mature’ status. Both the markets see consumption of sodium chloride salts in deicing industries. Owing to a large number of deicing industries in the regions, they are envisaged to hold notable shares of the market.
Leading players operating in the global sodium chloride market are Cargill Incorporated, Tata Chemicals Ltd., Akzo Nobel N.V., China National Salt Industry Corporation, and Dampier Salts.
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.