The global salt market is expected to grow at a CAGR of close to 2% from 2018-2022, according to a new market research report by Technavio.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180128005029/en/
Technavio has published a new market research report on the global salt market 2018-2022 under their food and beverage library. (Graphic: Business Wire)
Global salt market segmentation by type and application
Technavio’s report on the global salt market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by type, including rock salt, brine, and solar salts. As projected in 2017, around 40% of the market share originated from rock salt. Rock salt is used as a flavor enhancer while cooking and to cure food such as bacon and fish.
Based on application, the global salt market has been segmented into chemical processing, road de-icing, and food processing. As of 2017, 50% of the market share came from chemical processing.
“Due to the presence of chloride that is used in the manufacturing of many chlorine-based chemicals such as magnesium chloride, magnesium sulfate, calcium sulfate, potassium chloride, magnesium bromide, and calcium carbonate, salt is used in the chemical industry for chemical processing. Salt is used in the manufacturing of chlorine since it is an abundant source of chlorine ions. The main consumers of salt in the chemical industry are chlorine and caustic soda manufacturers,” says a senior analyst at Technavio for food research.
Save more with Technavio. Buy 2 reports and get the third for free: View Technavio’s latest discounts and promotions
Salt market: competitive vendor landscape
The global salt market is highly fragmented and competitive. Many established players like Akzo Nobel, Cargill, Compass Minerals, INEOS, K+S, and Solvay dominate the market. With big production facilities across the world, these players have a vast geographical presence. Players in the market offer a broad product portfolio and provide a complete range of solutions, and their operations are often subject to intense regulatory scrutiny during the forecast period.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Other topics covered in the report:
Market drivers:
- Increasing production of chlor-alkali chemicals
- Growing demand for PVC
Market trends:
- Ban on use of aluminum salt in deodorants
- Growing demand for packaged foods
Get a sample copy of the global salt market report free of cost
Access Technavio’s continuously growing food research library and find expert analysis on hundreds of markets.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180128005029/en/
