Sodium Chloride Market, Covid-19 Outbreak, Overview, Technical Grade, Segmentation, Regional Analysis, Key Players and Forecast to 2025

Market Overview

Sodium chloride is universally known as a common salt with the chemical formula NaCl. It typically exists in the form of cubic crystals and used in excess quantities across several industries. It is generally obtained from evaporation of seawater or brine by solar and vacuum evaporation methods. Also, it is produced through its ore, salt halite, which is known as rock salt. It is widely produced in large quantities to serve the increasing demand in various end-use industries such as chemical, oil & gas, and wastewater treatment.

According to MRFR analysis, the global sodium chloride market is projected to reach USD 21.3 billion at a robust CAGR of 3.4% during the assessment period. Sodium chloride finds applications in de-icing and production of chlor-alkali products such as soda ash, caustic soda, and chlorine, which accounts for over 70% of the production across the globe. The growing need for de-icing of snow in cold countries and low-cost raw material for the production of high-end chlor-alkali products are factors expected to fuel the demand for the product during the forecast period.

Segmentation:

Global Sodium Chloride Market has been segmented on the basis of type, manufacturing process, grade, application, and region.

Based on type, the global sodium chloride market has been classified into rock salt, solar salt, and others (brine and vacuum).

By manufacturing process, the global sodium chloride market has been bifurcated into artificial evaporation and solar evaporation.

On the basis of grade, the global sodium chloride market has been categorized into food grade, pharmaceutical grade, and technical grade.

Based on application, the global sodium chloride market has been segmented into chemical intermediates, de-icing, water conditioning, flavoring agents and food preservatives, agriculture, animal feed additive, drilling fluids, pharmaceutical ingredient, and others.

Regional Analysis:

The global sodium chloride market has been segmented into five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The Asia-Pacific market accounted for the largest share in 2018 and is projected to register the highest CAGR during the forecast period. This is largely attributed to the high consumption of common salt in chlor-alkali industries. China is the leading producer and consumer of sodium chloride in the world and accounts almost 25% of the total consumption on account of the increasing use of the salt in chemical, water treatment, and food and beverage industries. Australia & New Zealand, India, and South Korea are other prominent countries in the region. The North American market held the second-largest market share in 2018 owing to the growing consumption of NaCl in de-icing of snow in winter.

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Key Players

The key players involved in the global sodium chloride market are Cargill, Incorporated (US), Dow (US), K+S AKTIENGESELLSCHAFT (Germany), ICL Fertilizers (Israel), The Henrique Lage Salineira do Nordeste (Brazil), Dominion Salt (New Zealand), Tata Chemicals Ltd (India), Maldon Crystal Salt Co (UK), Akzo Nobel N.V. (The Netherlands), Compass Minerals (US), jinleichem (China), Rio Tinto Limited (Australia), and Morton Salt, Inc (US).

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.