Global Sodium Chloride Market to Reach US$ 34.2 Billion by 2032, Propelled by Significant Growth in F&B Industry

March 31, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Sodium Chloride Market Report by Source (Sea Water, Rock Salt, and Others), End-Use (Chemical Industry, Food Grade Salt, Road De-icing, and Others), and Region 2024-2032," the global sodium chloride market size reached US$ 29.1 Billion in 2023. Sodium chloride (NaCl) is a clear, white crystalline inorganic compound with a high melting and boiling point. It is commercially extracted from seawater and underground salt deposits through solar and vacuum evaporation and mining processes. It is also produced by the chemical reaction between sodium hydroxide (NaOH) and hydrochloric acid (HCL). Sodium chloride is widely used in food processing and preservation, water treatment, oil and gas drilling, chemical synthesis, and de-icing processes. It is also used to produce papers, drugs, saline solutions, textiles, battery electrolytes, ceramics, and leathers. It is a cost-effective, versatile, and water-soluble substance that exhibits electrical conductivity and excellent hygroscopic and ionic properties.

Global Sodium Chloride Market Trends:

The significant growth in the food and beverage (F&B) industry across the globe is one of the key factors creating a positive outlook for the market. Sodium chloride is widely used as a flavor enhancer, preservative, and curing agent in meats, vegetables, snacks, pickles, ham, bacon, cheese, and bakery products. Moreover, the widespread product utilization as a feedstock in the chemical industry to produce chlorine gas, caustic soda, ammonium chloride, sodium carbonate, hydrochloric acid, and sodium hypochlorite is providing an impetus to the market growth. In line with this, the increasing product application in the pharmaceutical industry to produce tablets, capsules, hemodialysis solutions, buffering agents, and saline solutions for intravenous (IV) injections, wound cleaning, and nasal spray is acting as another growth-inducing factor. Additionally, the recent development of a solar-powered desalination process that utilizes solar energy to drive pumps and evaporate seawater, which, in turn, saves costs and minimizes energy consumption, is positively influencing the market growth. Apart from this, the introduction of zero-liquid discharge (ZLD) technology, which aims to reduce water pollution and promote water reuse in the sodium chloride production process, is driving the market growth. Furthermore, the widespread product adoption in the de-icing process to melt ice and snow from roads, streets, highways, sidewalks, and airports is propelling the market growth. Other factors, including rising product application in water treatment, increasing investment in the research and development (R&D) of advanced production methods, and the widespread product demand in textile manufacturing, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 34.2 Billion by 2032, exhibiting a CAGR of 1.7% during 2024-2032.

Market Summary:

On the basis of the source, the market has been divided into sea water, rock salt, and others.
Based on the end use, the market has been classified into chemical industry, food grade salt, road de-icing, and others.
On a regional basis, the market has been categorized into Asia, Europe, North America, South and Central America, and others.
The competitive landscape of the industry has also been examined, with some of the key players being K+S Group, China National Salt Industry Group (CNSIG), Compass Minerals International, Inc, Cargill Corporation and Dampier Salt Limited (DSL).

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	Million Tons, US$ Billion
Segment Coverage	Source, End-Use, Region
Region Covered	Asia, Europe, North America, South and Central America, Others
Companies Covered	K+S Group, China National Salt Industry Group (CNSIG), Compass Minerals International, Inc, Cargill Corporation and Dampier Salt Limited (DSL)
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Sodium Chloride Market to Reach US$ 34.2 Billion by 2032, Propelled by Significant Growth in F&B Industry

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