Sales of industrial salt are forecast to grow at a steady 4% CAGR, finds Fact.MR in a recent market survey. Increasing demand for industrial salt in various end-use industries such as chemical processing, caustic soda, water treatment and de-icing will continue augmenting growth of the market. Driven by this, the industrial salt market size is expected to reach $20.3B by 2031, with total consumption of industrial salt surpassing 455 KT over the forecast period.
Growing adoption of industrial salt in the oil and gas industry for drilling natural resources such as crude oil and natural gas is giving tailwinds to industrial salt sales. Besides this, increasing applications of industrial salt in water treatment driven by water security policies is expected to augment growth of the market in the forthcoming years.
Further, expansion of the chemical industry is expected to bode well for the industrial salt market. Industrial salts are widely adopted in the chemical processing industry for the manufacturing of soda ash, caustic soda and chlorine. These chemicals are further used in water treatment, laundry and other applications. Hence, this is anticipated to boost the sales of industrial salt in the chemical sector, according to Fact.MR.
The report offers insight into the industrial salt market demand outlook for 2021-2031. The market study also highlights projected sales growth for industrial salt market between 2021 and 2031. Fact.MR’s industrial salt market survey identifies key growth drivers, restraints and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
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