As per the latest report by IMARC Group, titled “Sodium Chloride Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global market reached a value of US$ 28.6 Million in 2020. Sodium chloride (NaCl) is an ionic compound representing a 1:1 ratio of sodium and chloride ions. Commonly referred to as table salt, salt, or common salt, this compound is readily soluble in water. It appears as a white crystalline solid and acts as a flame retardant and an emetic. Sodium chloride is also essential in maintaining the electrolyte balance of fluids, blood pressure levels, transmitting nerve signals, and contracting and relaxing muscles in the body of a person. This compound is also utilized for de-icing the streets and highways during heavy snowfall. As a result, sodium chloride finds widespread applications across various sectors, such as chemical, animal feed, water and waste treatment, textiles, pharmaceuticals, etc.
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The escalating product demand in the food and beverage (F&B) industry to preserve, enhance the flavor, prevent spoilage, keep ready-to-eat (RTE) meats and cheese safe, season and color fish, ferment items, including pickles, sauerkraut, and kefir, etc., is among the primary factors driving the sodium chloride market. Besides this, the elevating utilization of salt in catheter flush injections or intravenous infusions and for cleaning contact lenses is further augmenting the market growth. Apart from this, the growing requirement for sodium chloride in the chemical sector for manufacturing caustic soda, ammonium chloride, sodium bicarbonate, etc., is also catalyzing the global market. Moreover, the rising product popularity as a feedstock in several industrial processes and for water softening purposes is expected to bolster the sodium chloride market in the coming years. Looking forward, the global vegetable oil market value is expected to reach US$ 306.6 Billion by 2026, exhibiting a CAGR of 4.9% during the forecast period (2021-2026).
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Competitive Landscape with Key Players:
- K+S Group
- China National Salt Industry Group (CNSIG)
- Compass Minerals International, Inc
- Cargill Corporation and Dampier Salt Limited (DSL).
Breakup by Source:
- Sea Water
- Rock Salt
Breakup by End Use:
- Chemical Industry
- Food Grade Salt
- Road De-icing
- North America
- South and Central America
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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