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Industrial Salts Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ -- The industrial salts market has experienced robust growth in recent years, expanding from $14.8 billion in 2023 to $15.53 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to chemical industry growth, water treatment applications, snow and ice control, food processing, metal processing.

What Is The Estimated Market Size Of The Global Industrial Salts Market And Its Annual Growth Rate?
The industrial salts market is projected to continue its strong growth, reaching $18.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to renewable energy initiatives, environmental regulations, urbanization and construction, health and wellness trends, economic development in emerging markets.

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Growth Driver Of The Industrial Salts Market
The growing oil and gas sector is expected to propel the growth of the industrial salts market going forward. The oil and gas sector, also known as the petroleum industry, encompasses the global processes of exploration, extraction, refining, transportation, and marketing of petroleum products. Industrial salts play a crucial role in the oil and gas sector, with various applications that contribute to the efficiency and safety of operations. Salt is used to increase the density of mud and soil in drilling operations, creating a safer and more efficient drilling rig. It is also used in the refining process to remove water from the finished product, aiding in the production of high-quality petroleum products.

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Which Market Players Are Steering The Industrial Salts Market Growth?
Key players in the market include 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.

What Are The Key Trends That Influence Industrial Salts Market Share And Analysis?
Major companies operating in the market are focused on adopting strategic collaborations to gain a competitive edge in the market. These collaborations are intended for industrial salt plant investments that majorly involve partnerships and alliances aimed at enhancing the production, distribution, and utilization of industrial salt.

How Is The Global Industrial Salts Market 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

Geographical Insights: Asia-Pacific Leading The Industrial Salts Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Industrial Salts Market Definition
Industrial salt is a finely processed, white crystalline granules from natural sources. It is suitable for various applications, including detergents, textile dyeing, resin products, and other chemical processes.

Industrial Salts Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global industrial salts market report covering trends, opportunities, strategies, and more
The Industrial Salts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on industrial salts market size, industrial salts market drivers and trends, industrial salts market major players and industrial salts market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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