The new report by Expert Market Research titled, ‘Global Sodium Chloride Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global sodium chloride market, assessing the market based on its segments like types, product source, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 30 Billion
- Forecast CAGR (2023-2028): 2.3%
- Forecast Market Size (2028): USD 34.35 Billion
The rising application of sodium chloride in multiple industries is a major factor helping the market to grow. NaCl is primarily used in the food industry for seasoning, colouring, curing chicken, and preserving fish. It aids in the enhancement of flavour, the preservation of foods, the prevention of spoilage, and the safety of ready-to-eat deli meats. Salt is also used in the fermentation of foods such as sauerkraut, pickles, and kefir.
Aside from that, it is used in catheter flush injections or intravenous infusions, as well as to clean objects such as contact lenses. NaCl is an important chemical used in the chemical industry, primarily in the production of caustic soda, sodium chlorite, ferric chloride, and sodium bicarbonate. Furthermore, a large amount of sodium chloride is used as a biofuel in many process industries and for water softening.
Sodium Chloride Industry Definition and Major Segments
Sodium Chloride, more commonly known as salt is a white, crystalline ionic compound made from sodium and chlorine with the chemical formula of NaCl. It is saline in taste and soluble in water.
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On the basis of source, the sodium chloride market is segmented into:
- Sea Water
- Rock Salt
On the basis of its end-use, the market is classified as:
- Chemical Industry
- Food Grade Salt
- Road De-icing
The major regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Sodium Chloride Market Trends
Due to growing refining activities and production from chemical companies, Asia-Pacific dominated the global market for sodium chloride. China is a reprocessing powerhouse, producing the vast majority of the world’s chemicals. Many important chemicals like caustic soda, sodium chlorite, ammonium chlorite, and sodium bicarbonate, among others, are made using sodium chloride. Various application areas of these chemicals also invigorate the market for their originator chemical.
In the Kraft process, a process for conversion of wood into wood pulp, the paper industry utilizes caustic soda. Chemicals such as chlorine can be made from sodium chloride, which could then be used to make polyvinyl chloride (PVC), primarily used in the construction industry. Vast application areas are anticipated to propel the market in the forecast period.
Key Market Players
The major players in the market are K.G. International, Inc., Cargill Inc, China National Salt Industry Corporation (CNSIC), Compass Minerals, State enterprise Artyomsol, Nobian, Südwestdeutsche Salzwerke AG, Salins Group, Mitsui Group, Rio Tinto Group, among others.
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