The global industrial salts market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing demand for industrial salts from various end-use industries such as water treatment, agriculture, food processing, de-icing and other. In addition, growing chlor-alkali sector in the chemical industry is has lateral and positive impact of growth of the industrial salts market.
The global industrial salts market is segmented on the basis of source, product, application, and region.
On the basis of source, the global market is segmented into Brine and Salt Mines.
On the basis of product, the global market is segmented into Rock salt, Salt in brine, Solar salt, and Vacuum pan salt.
On the basis of application, the global market is segmented into Chemical processing, De-icing, Oil & Gas (drilling, refining, and other process), Water treatment, Agriculture, and Others (food processing, animal feed, etc.)
On the basis of region, the global industrial salts market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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Markets in Asia Pacific and North America accounted for largest market share in the global industrial salts market in 2016. High demand from chemical industries in countries such as China and India is expected to support growth in Asia Pacific. Demand for industrial salts for de-icing in cold regions is expected to result in high growth of target market in North America and Europe as well. Market in Middle East & Africa is also expected to grow at a moderate rate over the next ten years.
Key players operating in the global market include Compass Minerals International Inc., Cargill Inc., INEOS Salt, China National Salt Industry Corporation (CNSIC), Tata Chemicals Limited, K+S Group, Morton Salt, Mitsui & Co. Ltd., Rio Tinto PLC., and Delmon Salt Factory.