Sodium Chloride Market 2016 Trends, Research, Analysis and Review Forecast 2024

Sodium Chloride Market - Global Industry
Analysis, Size, Share, Growth, Trends, and
Forecast 2016 - 2024
Global Sodium Chloride Market: Snapshot
The global market for sodium chloride is primarily driven by the significant rise in
demand for chlor-alkali substances and packaged food products globally. The market
will gain sizeable traction from the demand across the flourishing food and
beverages and chemicals industries across emerging market but will bear the brunt
of the declining demand for deicing application in regions such as North America
and Europe.
Transparency Market Research estimates that the market will exhibit a moderate
3.8% CAGR over the period between 2016 and 2024. If the prediction holds true, the
market will rise from a valuation of US$13.85 bn in 2015 to US$19.37 bn in 2024.
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Usage in Manufacturing of Chemical Intermediates to Remain Most
Promising Application Area
Of the key applications of sodium chloride in the global market, applications across
the chemical industry helped the global sodium chloride gain the most prominent
share in revenue in 2015. In the chemical industry, sodium chloride is used in the
manufacture of chlor-alkali products such as chlorine, soda ash, and caustic soda.
These products are further used for manufacturing a wide range of products such as
PVC, detergents, glass, dyes, and soaps. The rising global demand for these
products will be a key factor driving the demand for sodium chloride in chemical
applications in the next few years.
Over the forecast period, the market is expected to witness the most promising
growth across the application segment of flavoring agent and food preservative, an
estimated 4.3% CAGR from 2016 through 2024. The flourishing global market for
packaged food will be the key factor leading to the high demand for sodium chloride
across this application segment over the forecast period.
The application segment of deicing, which involves the use of salt for deicing of
snow on public and private areas such as roads, highways, airports, public and
private grounds, and airplanes, accounted for a nearly 16% of the global sodium

chloride market in 2015. However, the segment is expected to witness a decline
over the forecast period owing to the fluctuations in snowfall in key regional
markets such as Europe and North America. The segment, as a result, is expected to
account for a nearly 15% of the market by 2024.
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Decline across Deicing Application to Hamper Growth in North America
and Europe
Asia Pacific holds the top spot in the global sodium chloride market in terms of both
production and consumption. The region is also expected to remain the most
lucrative market for sodium chloride over the forecast period, chiefly owing to the
rising demand from end-use industries such as water treatment, chemicals, and
food and beverages. The rising demand for chloro-alkali products in the chemical
industry are likely to provide lucrative opportunities for the sodium chloride market
in Asia Pacific. Increase in disposable incomes and changing food habits are
expected to provide significant growth opportunities owing to the rising
consumption of packaged and preserved food products.
The sodium chloride markets in North America and Europe are mature and less
lucrative than Asia Pacific. However, North America and Europe are also the largest
deicing salt consuming markets and will continue to account for a sizeable share in
the global sodium chloride market over the forecast period. In the North America
market, the U.S., which currently holds a significant share in the regional market’s
revenues, is likely to continue to remain the primary market for deicing and
chemical intermediates segments; Canada is expected to offer higher market
potential for deicing.
Some of the global sodium chloride market’s most influential players are Cargill
Incorporated, Akzo Nobel N.V., Tata Chemicals Ltd., Dampier Salts, China National
Salt Industry Corporation, Compass Minerals International, Inc., Wacker Chemie AG,
Südwestdeutsche Salzwerke AG, INEOS Salts, Swiss Salt Works AG, and Cheetham
Salt.
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