Sodium Chloride Market Size, Trends and Insights By Grade (Agriculture, Food, Industrial, Pharmaceuticals), By Source (Sea Water and Brine, Solid), By Product Foam (Liquid, Solid), By End Use (Agriculture, Chemicals, Deicing, Food & Beverages, Industrial, Leather Industry, Oil & Gas, Pharmaceuticals, Water Treatment), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Cargill incorporated
- Compass Minerals International.
- K+S AKTIENGESELLSCHAFT
- Wacker Chemie AG
- Akzo Nobel N.V.
- Others
Reports Description
As per the current market research conducted by Custom Market Insight Team, the global sodium chloride market is expected to record a CAGR of 4.4% from 2023 to 2030. In 2023, the market size is projected to reach a valuation of US$ 44.0 billion. By 2030, the valuation is anticipated to reach US$ 67.4 billion.
Sodium chloride, commonly known as salt, is a chemical compound that is essential for human and animal health, as well as for various industrial and commercial applications. The sodium chloride market refers to the global market for the production, distribution, and sale of salt.
The demand for sodium chloride is driven by various factors, including its use as a seasoning and preservative in food and beverage products, as well as its application in the production of chemicals, textiles, and other materials. In addition, sodium chloride is used in water treatment, de-icing, and other industrial processes. The global sodium chloride market is expected to grow in the coming years, driven by increasing demand from various industries and regions.
| Attributes | Value |
| Sodium Chloride Market Expected Value (2023) | US$ 44.0 billion |
| Sodium Chloride Market Forecast Value (2030) | US$ 67.4 billion |
| Sodium Chloride Market Expected CAGR (2023 to 2030) | 4.4% |
Sodium Chloride Market Dynamics
The sodium chloride market is influenced by various dynamics, including:
- Demand from the Food and Beverage Industry: The food and beverage industry is a major consumer of sodium chloride for seasoning and preserving food products. The demand for sodium chloride in this industry is expected to remain stable or grow in the coming years.
- Growth in Industrial Applications: Sodium chloride is used in a wide range of industrial applications, including chemical production, water treatment, and de-icing. The growth of these industries is expected to drive demand for sodium chloride in the future.
- Regional Trends: The demand for sodium chloride varies by region, with some regions having a higher demand due to their specific industries and applications. For example, North America and Europe have a higher demand for pharmaceutical-grade sodium chloride, while Asia-Pacific is a major consumer of industrial-grade sodium chloride.
- Price Fluctuations: The price of sodium chloride can be affected by various factors, including supply and demand, production costs, and global economic conditions. Price fluctuations can impact the profitability of companies in the sodium chloride market.
- Environmental Regulations: Sodium chloride can have negative impacts on the environment, particularly when used for de-icing roads and other surfaces. Environmental regulations can impact the demand for sodium chloride in certain applications and industries.
Sodium Chloride Market – Mergers and Acquisitions
The sodium chloride market has seen several mergers and acquisitions in recent years, including:
- K+S AG Acquisition of Morton Salt: In 2009, K+S AG, a major player in the global salt market, acquired Morton Salt, one of the largest producers of salt in North America. The acquisition helped K+S AG expand its presence in the North American market.
- Cargill Acquisition of AkzoNobel Salt Business: In 2018, Cargill, a leading salt producer, acquired the salt business of AkzoNobel, a global paints and coatings company. The acquisition helped Cargill expand its product portfolio and geographic reach.
- Compass Minerals Acquisition of Produquimica: In 2020, Compass Minerals, a major player in the salt market, acquired Produquimica, a Brazilian company that produces specialty plant nutrition products. The acquisition helped Compass Minerals expand its presence in the South American market and diversify its product offerings.
- China National Salt Industry Corporation Acquisition of Hubei Salt: In 2021, China National Salt Industry Corporation (CNSIC) acquired Hubei Salt, a state-owned salt producer in China. The acquisition helped CNSIC consolidate its position as the largest salt producer in China.
- These mergers and acquisitions have helped companies in the sodium chloride market expand their product portfolios, increase their geographic reach, and consolidate their positions in the industry.
Sodium Chloride Market – Key Prospects
The sodium chloride market is expected to have several key prospects in the coming years, including:
Growing Demand for Processed Food:
The demand for processed food is expected to increase globally, driven by factors such as urbanization and changing lifestyles. This is expected to increase the demand for sodium chloride as a seasoning and preservative in the food and beverage industry.
Increasing Industrial Applications:
Sodium chloride has a wide range of industrial applications, including the production of chemicals, textiles, and water treatment. The growth of these industries is expected to drive demand for sodium chloride in the future.
Rising Demand for Pharmaceutical-Grade Sodium Chloride:
The demand for pharmaceutical-grade sodium chloride is expected to increase due to its use in various medical applications, including injections and dialysis. This is particularly true in North America and Europe.
Development of New Applications:
Research and development activities are ongoing to explore new applications for sodium chloride, including in the fields of energy storage, renewable energy, and agriculture. The development of new applications could drive growth in the sodium chloride market.
Increased Focus on Sustainability:
Environmental concerns are driving a focus on sustainable salt production and use. Companies are exploring new production methods, such as solar evaporation, and developing sustainable de-icing alternatives. This could create opportunities for companies that are able to meet the growing demand for sustainable products.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Sodium chloride Market | Superhydrophobic Coatings Market | Salicylic Acid Market |
| CAGR 4.4% (Approx) | CAGR 25%
(Approx) |
7%
(Approx) |
| USD 67.4 billion by 2030 | USD 120 million by 2030 | USD 810 million by 2030. |
Recent Developments in the Market:
- In May 2021, Sandhage reported encouraging results regarding the use of super-hot sodium chloride to reduce the costs of solar power facilities. The technology allows for the easy conversion of heat to electricity at temperatures exceeding 1300 degrees Fahrenheit, potentially making solar power more affordable and efficient.
- In April 2021, Stone Canyon Industry Holdings LLC reached an agreement with the Department of Justice to divest all assets related to evaporated salt in order to move forward with its acquisition of Morton Salt Inc. This decision was made to maintain fair competition in the salt market.
- In January 2021, Aurobindo Pharma received FDA approval to manufacture and distribute Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection for the US healthcare sector. This medication is used as a sedative during medical procedures, and this approval is expected to strengthen Aurobindo Pharma’s presence in the US market for injectable drugs.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 44.0 Billion |
| Projected Market Size in 2030 | USD 67.4 Billion |
| Market Size in 2022 | USD 40.65 Billion |
| CAGR Growth Rate | 4.4% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Grade, Source, Product Foam, End Use, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Sodium Chloride Market – Restraining Factors
The sodium chloride market also faces several restraining factors, including:
- Health Concerns: The high consumption of sodium chloride has been linked to health concerns such as hypertension, cardiovascular diseases, and stroke. This has led to increased public awareness and demand for low-sodium alternatives, which could impact the demand for sodium chloride.
- Availability of Substitutes: Sodium chloride has several substitutes, such as potassium chloride and calcium chloride, which can be used in similar applications. The availability of these substitutes may limit the demand for sodium chloride in some applications.
- Environmental Concerns: Salt mining and production can have negative environmental impacts, such as land degradation, water pollution, and greenhouse gas emissions. This has led to an increased focus on sustainable production methods and alternative de-icing products, which could limit demand for traditional sodium chloride products.
- Fluctuating Prices: The price of sodium chloride is subject to fluctuations due to factors such as supply and demand, production costs, and weather conditions. This can impact the profitability of companies in the sodium chloride market.
- Stringent Regulations: The production and use of sodium chloride are subject to stringent regulations, particularly in industries such as food and pharmaceuticals. Compliance with these regulations can be costly and time-consuming for companies, which could impact their profitability.
Category-wise Insights:
The sodium chloride market is experiencing an uptick in demand, particularly in industries such as food and chemical manufacturing. The consumption of sodium chloride is on the rise as companies seek to improve the quality of their products, such as glass, plastic, and paper.
In the food industry, the demand for sodium chloride is increasing as it is used to enhance the taste of food and increase its shelf life. Ready-to-eat food, cheese, and meat products are among the key drivers of sodium chloride adoption in the food and beverage industry. The fermentation of foods like pickles and other toppings is also contributing to market growth.
In the chemical sector, the growing demand for alkali products such as soda ash, chlorine, and caustic soda is accelerating the demand for sodium chloride. The chemical industry is expected to drive around 25% of the overall market through the forecast period.
The food Grade Category is Likely to Dominate the Market Growth
The sodium chloride market is segmented into several grade categories, including agriculture, food, industrial, and pharmaceutical. Among these grade segments, food-grade products lead the market by capturing the maximum share, with a CAGR of 4.3% during the forecast period.
The global food and beverage processing sector is driving the increasing adoption of sodium chloride, particularly in the food-grade segment. This is expected to promote market expansion, with the food-grade segment capturing a CAGR of 1.7% during the historical period.
Region-wise Insights:
The United Kingdom Sodium Chloride Market
The United Kingdom presents a significant opportunity for growth in the sodium chloride market, with an estimated CAGR of 3.3% and a valuation of US$ 2.5 billion during the forecast period. This growth is primarily driven by the increasing demand for applications production in the chemical industry, including chlorine gas, rubber, and paper & pulp.
Sodium chloride is an easily available and inexpensive source for the production of sodium hydroxide and chlorine gas, making it a prime material for various industries such as textiles, plastics, chemicals, and agrochemicals in the United Kingdom. Furthermore, the demand for sodium chloride is growing in the manufacturing of paints & coatings, PVC, polymers, and animal feed products, further expanding the market opportunities in the United Kingdom.
The United States Sodium Chloride Market
During the forecast period, the USA market for sodium chloride is expected to grow at a CAGR of 3.4%, with a valuation of US$ 4.2 billion. The demand for processed and packaged food in the USA is relatively high, driving the market’s growth in the coming decade. The food industry’s growing demand for sodium chloride as a preservative in processed meats and pickles is driving the market’s expansion in the USA.
The use of sodium chloride inhibits the growth of fungi, increasing the shelf life of food products. In the USA market, food-grade sodium chloride is used for various applications, from table salt to specialty salts, and its price varies significantly. Additionally, changing lifestyles, increasing disposable income, and convenience of consumption are the key factors propelling the USA market’s growth. During the historic period, the consumption of sodium chloride in the USA market grew at a CAGR of 1% during the historical period.
Some of the leading companies operating in the market are:
- Cargill incorporated
- Compass Minerals International.
- K+S AKTIENGESELLSCHAFT
- Wacker Chemie AG
- Akzo Nobel N.V.
- Tata Chemicals Limited
- Südwestdeutsche Salzwerke AG
- INEOS GROUP HOLDINGS S.A
- Hindustan Ltd
- Dampier Salt Limited
- Others
The global Sodium Chloride Market is segmented as follows:
By Grade:
- Agriculture
- Food
- Industrial
- Pharmaceuticals
By Source:
- Sea Water and Brine
- Solid
By Product Foam:
- Liquid
- Solid
By End Use:
- Agriculture
- Chemicals
- Deicing
- Food & Beverages
- Industrial
- Leather Industry
- Oil & Gas
- Pharmaceuticals
- Water Treatment
By Region
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Sodium Chloride Market, (2024 – 2030) (USD Billion)
- 2.2 Global Sodium Chloride Market : snapshot
- Chapter 3. Global Sodium Chloride Market – Industry Analysis
- 3.1 Sodium Chloride Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 urbanization and changing lifestyles
- 3.2.2 Increasing Industrial Applications
- 3.2.3 Rising Demand for Pharmaceutical-Grade
- 3.2.4 Increased Focus on Sustainability.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Grade
- 3.7.2 Market attractiveness analysis By Source
- 3.7.3 Market attractiveness analysis By Product Foam
- 3.7.4 Market attractiveness analysis By End Use
- Chapter 4. Global Sodium Chloride Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Sodium Chloride Market: company market share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Sodium Chloride Market – Grade Analysis
- 5.1 Global Sodium Chloride Market overview: By Grade
- 5.1.1 Global Sodium Chloride Market share, By Grade, 2022 and 2030
- 5.2 Agriculture
- 5.2.1 Global Sodium Chloride Market by Agriculture, 2024 – 2030 (USD Billion)
- 5.3 Food
- 5.3.1 Global Sodium Chloride Market by Food, 2024 – 2030 (USD Billion)
- 5.4 Industrial
- 5.4.1 Global Sodium Chloride Market by Industrial, 2024 – 2030 (USD Billion)
- 5.5 Pharmaceuticals
- 5.5.1 Global Sodium Chloride Market by Pharmaceuticals, 2024 – 2030 (USD Billion)
- 5.1 Global Sodium Chloride Market overview: By Grade
- Chapter 6. Global Sodium Chloride Market – Source Analysis
- 6.1 Global Sodium Chloride Market overview: By Source
- 6.1.1 Global Sodium Chloride Market share, By Source, 2022 and 2030
- 6.2 Sea Water and Brine
- 6.2.1 Global Sodium Chloride Market by Sea Water and Brine, 2024 – 2030 (USD Billion)
- 6.3 Solid
- 6.3.1 Global Sodium Chloride Market by Solid, 2024 – 2030 (USD Billion)
- 6.1 Global Sodium Chloride Market overview: By Source
- Chapter 7. Global Sodium Chloride Market – Product Foam Analysis
- 7.1 Global Sodium Chloride Market overview: By Product Foam
- 7.1.1 Global Sodium Chloride Market share, By Product Foam, 2022 and 2030
- 7.2 Liquid
- 7.2.1 Global Sodium Chloride Market by Liquid, 2024 – 2030 (USD Billion)
- 7.3 Solid
- 7.3.1 Global Sodium Chloride Market by Solid, 2024 – 2030 (USD Billion)
- 7.1 Global Sodium Chloride Market overview: By Product Foam
- Chapter 8. Global Sodium Chloride Market – End Use Analysis
- 8.1 Global Sodium Chloride Market overview: By End Use
- 8.1.1 Global Sodium Chloride Market share, By End Use, 2022 and 2030
- 8.2 Agriculture
- 8.2.1 Global Sodium Chloride Market by Agriculture, 2024 – 2030 (USD Billion)
- 8.3 Chemicals
- 8.3.1 Global Sodium Chloride Market by Chemicals, 2024 – 2030 (USD Billion)
- 8.4 Deicing
- 8.4.1 Global Sodium Chloride Market by Deicing, 2024 – 2030 (USD Billion)
- 8.5 Food & Beverages
- 8.5.1 Global Sodium Chloride Market by Food & Beverages, 2024 – 2030 (USD Billion)
- 8.6 Industrial
- 8.6.1 Global Sodium Chloride Market by Industrial, 2024 – 2030 (USD Billion)
- 8.7 Leather Industry
- 8.7.1 Global Sodium Chloride Market by Leather Industry, 2024 – 2030 (USD Billion)
- 8.8 Oil & Gas
- 8.8.1 Global Sodium Chloride Market by Oil & Gas, 2024 – 2030 (USD Billion)
- 8.9 Pharmaceuticals
- 8.9.1 Global Sodium Chloride Market by Pharmaceuticals, 2024 – 2030 (USD Billion)
- 8.10 Water Treatment
- 8.10.1 Global Sodium Chloride Market by Water Treatment, 2024 – 2030 (USD Billion)
- 8.1 Global Sodium Chloride Market overview: By End Use
- Chapter 9. Sodium Chloride Industry – Regional Analysis
- 9.1 Global Sodium Chloride Industry Regional Overview
- 9.2 Global Sodium Chloride Industry Share, by Region, 2022 & 2030 (USD Billion)
- 9.3. North America
- 9.3.1 North America Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.3.1.1 North America Sodium Chloride Industry, by Country, 2024 – 2030 (USD Billion)
- 9.3.1 North America Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.4 North America Sodium Chloride Industry, by Grade, 2024 – 2030
- 9.4.1 North America Sodium Chloride Industry, by Grade, 2024 – 2030 (USD Billion)
- 9.5 North America Sodium Chloride Industry, by Source, 2024 – 2030
- 9.5.1 North America Sodium Chloride Industry, by Source, 2024 – 2030 (USD Billion)
- 9.6 North America Sodium Chloride Industry, by Product Foam, 2024 – 2030
- 9.6.1 North America Sodium Chloride Industry, by Product Foam, 2024 – 2030 (USD Billion)
- 9.7 North America Sodium Chloride Industry, by End Use, 2024 – 2030
- 9.7.1 North America Sodium Chloride Industry, by End Use, 2024 – 2030 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.8.1.1 Europe Sodium Chloride Industry, by Country, 2024 – 2030 (USD Billion)
- 9.8.1 Europe Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.9 Europe Sodium Chloride Industry, by Grade, 2024 – 2030
- 9.9.1 Europe Sodium Chloride Industry, by Grade, 2024 – 2030 (USD Billion)
- 9.10 Europe Sodium Chloride Industry, by Source, 2024 – 2030
- 9.10.1 Europe Sodium Chloride Industry, by Source, 2024 – 2030 (USD Billion)
- 9.11 Europe Sodium Chloride Industry, by Product Foam, 2024 – 2030
- 9.11.1 Europe Sodium Chloride Industry, by Product Foam, 2024 – 2030 (USD Billion)
- 9.12 Europe Sodium Chloride Industry, by End Use, 2024 – 2030
- 9.12.1 Europe Sodium Chloride Industry, by End Use, 2024 – 2030 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.13.1.1 Asia Pacific Sodium Chloride Industry, by Country, 2024 – 2030 (USD Billion)
- 9.13.1 Asia Pacific Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.14 Asia Pacific Sodium Chloride Industry, by Grade, 2024 – 2030
- 9.14.1 Asia Pacific Sodium Chloride Industry, by Grade, 2024 – 2030 (USD Billion)
- 9.15 Asia Pacific Sodium Chloride Industry, by Source, 2024 – 2030
- 9.15.1 Asia Pacific Sodium Chloride Industry, by Source, 2024 – 2030 (USD Billion)
- 9.16 Asia Pacific Sodium Chloride Industry, by Product Foam, 2024 – 2030
- 9.16.1 Asia Pacific Sodium Chloride Industry, by Product Foam, 2024 – 2030 (USD Billion)
- 9.17 Asia Pacific Sodium Chloride Industry, by End Use, 2024 – 2030
- 9.17.1 Asia Pacific Sodium Chloride Industry, by End Use, 2024 – 2030 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.18.1.1 Latin America Sodium Chloride Industry, by Country, 2024 – 2030 (USD Billion)
- 9.18.1 Latin America Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.19 Latin America Sodium Chloride Industry, by Grade, 2024 – 2030
- 9.19.1 Latin America Sodium Chloride Industry, by Grade, 2024 – 2030 (USD Billion)
- 9.20 Latin America Sodium Chloride Industry, by Source, 2024 – 2030
- 9.20.1 Latin America Sodium Chloride Industry, by Source, 2024 – 2030 (USD Billion)
- 9.21 Latin America Sodium Chloride Industry, by Product Foam, 2024 – 2030
- 9.21.1 Latin America Sodium Chloride Industry, by Product Foam, 2024 – 2030 (USD Billion)
- 9.22 Latin America Sodium Chloride Industry, by End Use, 2024 – 2030
- 9.22.1 Latin America Sodium Chloride Industry, by End Use, 2024 – 2030 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Sodium Chloride Industry, by Country, 2024 – 2030 (USD Billion)
- 9.23.1 The Middle-East and Africa Sodium Chloride Industry, 2024 – 2030 (USD Billion)
- 9.24 The Middle-East and Africa Sodium Chloride Industry, by Grade, 2024 – 2030
- 9.24.1 The Middle-East and Africa Sodium Chloride Industry, by Grade, 2024 – 2030 (USD Billion)
- 9.25 The Middle-East and Africa Sodium Chloride Industry, by Source, 2024 – 2030
- 9.25.1 The Middle-East and Africa Sodium Chloride Industry, by Source, 2024 – 2030 (USD Billion)
- 9.26 The Middle-East and Africa Sodium Chloride Industry, by Product Foam, 2024 – 2030
- 9.26.1 The Middle-East and Africa Sodium Chloride Industry, by Product Foam, 2024 – 2030 (USD Billion)
- 9.27 The Middle-East and Africa Sodium Chloride Industry, by End Use, 2024 – 2030
- 9.27.1 The Middle-East and Africa Sodium Chloride Industry, by End Use, 2024 – 2030 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 Cargill incorporated
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Compass Minerals International.
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 K+S AKTIENGESELLSCHAFT
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 Wacker Chemie AG
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 Akzo Nobel N.V.
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Tata Chemicals Limited
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 Südwestdeutsche Salzwerke AG
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 INEOS GROUP HOLDINGS S.A
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Hindustan Ltd
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Dampier Salt Limited
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.1 Cargill incorporated
List Of Figures
Figures No 1 to 35
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
“Europe” region will lead the global Sodium Chloride market during the forecast period 2023 to 2030.
The key factors driving the market are urbanization and changing lifestyles, Increasing Industrial Applications, Rising Demand for Pharmaceutical-Grade and Increased Focus on Sustainability.
The key players operating in the Sodium Chloride market are Cargill incorporated, Compass Minerals International., K+S AKTIENGESELLSCHAFT, Wacker Chemie AG, Akzo Nobel N.V., Tata Chemicals Limited, Südwestdeutsche Salzwerke AG, INEOS GROUP HOLDINGS S.A, Hindustan Ltd, Dampier Salt Limited, Others.
The global Sodium Chloride market is expanding growth with a CAGR of approximately 4.4% during the forecast period (2023 to 2030).
The global Sodium Chloride market size was valued at USD 44.0 Billion in 2021 and it is projected to reach around USD 67.4 Billion by 2030.