Sodium Chloride Market to Surpass 36.82 billion by 2030 Drives Due to High Demand from Food & Beverages Sector
SkyQuest projects that the sodium chloride market will attain a USD 36.82billion value by 2030, with a CAGR of 2.3% over the forecast period (2023-2030). The robust requirement within the food and beverages industry for condiment and preservative agents propels the global sodium chloride market. Sodium chloride’s crucial role in flavor enhancement, food preservation, and processing drives its substantial demand, fostering market growth and diverse culinary and food manufacturing applications.
Westford,USA, Aug. 10, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, increasing demand in the chemical industry fuels growth in the global sodium chloride market. Sodium chloride is used extensively for chemical production, including chlorine and caustic soda manufacturing. Rising industrial activities and product applications boost sodium chloride consumption, driving market expansion.
Browse In-Depth TOC on the “Sodium Chloride Market”
- Pages – 265
- Tables – 94
- Figures – 76
Water treatment and deicing applications are prominent global sodium chloride market drivers. Sodium chloride’s efficacy in water softening, purification, and winter road de-icing is indispensable. Increasing urbanization, environmental concerns, and seasonal climatic variations enhance demand, reinforcing sodium chloride’s pivotal role in these critical sectors and propelling sodium chloride market growth.
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Prominent Players in the Sodium Chloride Market
- K+S AG
- Cargill, Inc.
- Compass Minerals International, Inc.
- AkzoNobel N.V.
- INEOS AG
- Wacker Chemie AG
- Tata Chemicals Limited
- China National Salt Industry Corporation
- Südwestdeutsche Salzwerke AG
- Salt Union Limited (a part of Tata Chemicals Europe Limited)
- Atisale S.p.A.
- Salinen Austria AG
- Dominion Salt Limited
- Swiss Saltworks AG
- Sichuan Guangyu Salt Industry Co., Ltd.
- Artyomsol State Enterprise
- Solana GmbH & Co. KG
- Cerebos Limited
- Salzwerke Halle GmbH
- La Baleine SA
SourceSegment is Expected to Grow the Market Due toExpanding Natural Salt Extraction
Source segment emerges as the fastest-growing in the global sodium chloride market due to expanding natural salt extraction. As demand for various grades of sodium chloride increases across industries, sourcing from salt mines, brine pools, and seawater becomes pivotal, fostering the segment’s rapid growth and market prominence.
North America is the fastest-growing region in the global sodium chloride market due to its diverse applications across industries. Demand for de-icing agents, chemical manufacturing, and food processing drives consumption. Robust economic growth, technological advancements, and end-user sectors contribute to the region’s significant market expansion.
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Production Segment is Expected to Dominate the Market Due to Sodium Chloride’s Crucial Role in Chemical Synthesis
Production segment is poised to dominate the global sodium chloride market. It drives the sodium chloride market due to its crucial role in synthesizing chemicals such as sodium hydroxide, soda ash, and chlor-alkali. Sodium chloride is widely employed in rubber, paper, pulp, chlorine gas, textiles, plastics, and agrochemical production.
Asia Pacific dominates the global sodium chloride market due to extensive industrial and agricultural activities. High demand for sodium chloride in chemical manufacturing, food processing, and water treatment fuels consumption. Growing population, urbanization, and increasing adoption across sectors solidify the region’s leading position in the market.
A comprehensive analysis of the major players in the sodium chloride market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in the Sodium Chloride Market
- In January 2022, B. Braun’s pharmaceutical manufacturing facility in Florida received FDA approval. The facility in Daytona Beach will produce 0.9 percent sodium chloride for injection. The product will be distributed in 1,000 ml and 500 ml Excel Plus IV bags from Bethlehem, Pennsylvania.
- Recently, US researchers have developed a promising battery technology utilizing common table salt and chlorine. As it progresses, the prototype could find utility in devices such as hearing aids and holds the potential for scaling up to larger applications. The innovative alkali metal-chloride battery boasts a remarkable six-fold rise in energy density.
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Key Questions Answered in Sodium Chloride Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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