Major players in the Salt market include China National Salt Industry Corporation (Cnsic), AkzoNobel N V, Infos, K+S, and Rio Tinto Plc.
The global salt market will grow from $39.16 billion in 2022 to $42.48 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The salt market is expected to grow from $63.07 billion in 2027 at a CAGR of 10.4%.
The Salt market includes revenues earned by entities by providing mining services such as solar evaporation method, rock Salt method, and vacuum evaporation method.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Salt refers to the process of extraction of halite commonly known as rock salt from evaporating formations that are used to mine salt.
Asia-Pacific was the largest market in the Salt market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of Salt are rock salt, salt in brine, solar salt, and vacuum pan salt.Solar salt refers to the salt from seawater or other brine evaporated in the sun.
The sources are brine and salt mines.The various applications involved are chemical processing, de-icing, water treatment, oil and gas, agriculture, flavoring agent, and other applications.
The mining type includes underground mining, and surface mining.
The growth in the Salt market is due to the increasing demand for mining in North America.For instance, in 2022, according to International Trade Administration, a US-based government agency, Mining accounted for almost 10% of the total GDP in 2020, being a major contributor to Australia’s economy.
Further, according to British Geological Survey, a UK-based government agency, the global production of several minerals such as potash and bauxite increased by more than 5 percent in 2020 compared to the previous year.
Salt companies are utilizing multipurpose mining equipment to extract rock salt from an underground deposit. This equipment enables mining companies to control carbon emissions underground and increase productivity with reduced cost, which is the major trend in the Salt market.
The regions covered in Salt report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the Salt market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The salt market research report is one of a series of new reports that provides salt market statistics, including salt industry global market size, regional shares, competitors with a salt market share, detailed salt market segments, market trends and opportunities, and any further data you may need to thrive in the salt industry. This salt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.