NEWARK, DE / ACCESSWIRE / October 17, 2022 / According to the research conducted by Future Market Insights, the global industrial sodium chloride market is expected to grow with a phenomenal CAGR of 4.2% over the forecast period from 2022 to 2032. The global market is expected to reach a valuation of around US$ 14,513.9 Mn in 2022. The sales of the industrial sodium chloride market are anticipated to increase with the top 3 countries that are projected to hold approximately 30-35% of the market by the end of 2022.
It goes without saying that the pandemic has impacted all facets of society including disruptions in the worldwide supply chain which had a major impact on the market for industrial sodium chloride. However, when gradually the infection curves started to decrease in 2022, FMI predicted that the demand for industrial sodium chloride predicts a CAGR of 4.2% by 2032. One important reason for highlighting this industry's higher growth in the forecast period is the rising global demand for sodium chloride from the chlor-alkali industry.
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According to the historic analysis, the demand for industrial sodium chloride grew at a CAGR of 4.0% from 2017 to 2021. Growth in the market is attributed to the constant demand for sodium chloride from industries like steel production for the automotive industry, agriculture industry, water treatment, and other industrial uses. The production of industrial sodium chloride is a simple process. Major players in the market are employing the sun evaporation production technique. Hence, there is no requirement for additional industrial investments. Global demand for industrial sodium chloride is increasing as a result of this factor.
Key Takeaways
- The widespread expansion of sodium chloride in numerous industrial applications including soil stability, clearing ice and snow from roads, and water softening, presents providers in the global industrial sodium chloride market with a compelling demand opportunity. The demand for industrial sodium chloride is specifically strong in oil & gas, pharmaceutical, chemical, water treatment, agricultural, de-icing, and other industries.
- The application of sodium chloride is widely used in chemical processing. Three prominent products that have maximum utilization of industrial sodium chloride as raw materials comprise caustic soda, soda ash, and chlorine. Sodium chloride is a vital component in the manufacture of paper and pulp, rubber, and chlorine gas.
- In addition to that, it is also known as a popular source of sodium hydroxide and chlorine gas which are utilized in producing plastics, chemicals, agrochemicals, and textiles. Hence, the consumption of industrial Sodium Chloride is anticipated to increase along with the demand for these chemicals.
- The industrial sodium chloride market is gaining massive traction from several end-use industries globally. The requirement for industrial sodium chloride has witnessed popularity over the recent years and has greatly expanded in the end-use industries, which include the textile, chemical processing, water treatment, agricultural, and other industrial sectors.
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Competitive Landscape
Key market players in the global industrial sodium market are fragmented and the market is known to be very diverse. Due to the presence of well-known players in the market, it is highly competitive and is subjected to intense rivalry in the market. In order to stay competitive, businesses in the industry are concentrating on a range of strategies, including partnerships, mergers, acquisitions, and collaborations.
In addition to that, a large number of suppliers are attempting to improve the quality of the products they offer. All these aforementioned factors imply that the industrial sodium chloride market is anticipated to possess enormous growth potential internationally in the years to come.
Key Segments Profiled in the Industrial Sodium Chloride Market Report
By Production Source:
- Seawater
- Rock Mines
- Brine
By End Use:
- Oil Field
- Pharmaceutical
- Water Treatment
- Textile, Chemical Processing
- De-Icing
- Agriculture
- Other
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Industrial Sodium Chloride Market Analysis 2016-2021 and Forecast, 2022-2032
More Insights into the Industrial Sodium Chloride Market
At present, the North American region is expected to dominate the global industrial sodium chloride market as it accounts for around 23.1% of the total share of the market. The growth in the market is attributed to its extensive use within widespread end-use industries. It is used as a de-icing agent in North America, which is mostly dependent on the local environmental circumstances and is projected to have a considerable mandate. The demand for sodium chloride has seen reasonable growth across the region owing to the expanding consumer knowledge of the substance's nutritional advantages.
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Sodium Chloride Market Share: Sodium chloride sourced from sea water and brine will be valued at US$ 27.9 Bn in 2021. Demand is expected to remain high owing to versatile applications in a wide range of industries, especially in chemical applications.
Pharmaceutical Grade Sodium Chloride Market Size: Future Market Insights (FMI) has forecasted the market of pharmaceutical grade sodium chloride to grow with a year on year growth of 5.7% in 2022 reaching a value of about US$ 315.8 Mn by 2022 end.
Polyvinyl Chloride Market Trends: The polyvinyl chloride (PVC) market is set for positive growth at approximately 4.2% CAGR over the course of projection period (2019-2029).
Aluminium Chloride Market Outlook: Global aluminium chloride demand is anticipated to be valued at US$ 873.2 Million in 2022, forecast to grow at a CAGR of 4.2% to be valued at US$ 1,317.6 Million from 2022 to 2032.
Pharma Grade Sodium Bicarbonate Market Demand: Sales in the global Pharma Grade Sodium Bicarbonate Market are slated to top US$ 256.0 Mn in 2022. Expanding at a healthy 3.5% CAGR, the market size is projected to total US$ 315.4 Mn by 2028.
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SOURCE: Future Market Insights Inc.