Global Sodium Chloride Market
The global sodium chloride market was valued US$ X.38 Bn and is expected to reach X.20 Bn by 2027, at a CAGR of X.45% during a forecast period.
Market Definition:
A mounting requirement for the stabilization of soil and water softening will contribute to the growth in market size over 2027. From developing regions china has world’s largest consumer and manufacturer from Asia Pacific region. china has documented approximately 40-45% of market share in the year 2019. Number of competitors are present in the market some leading manufacturers are China Supplier - Diamond Member Audited Hubei Aoks Bio-Tech Co., Ltd and China Supplier - Gold Member Audited Shijiazhuang Ligong Machinery Co., Ltd is involved in the production of pharmaceutical intermediate and food grade sodium chloride. Furthermore, the global sodium chloride market was valued US$ X.38 Bn and is expected to reach X.20 Bn by 2027, at a CAGR of X.45% during a forecast period.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Market Outlook:
Sodium chloride is one of the largest-volume inorganic raw materials used by the chemical industry. The major chemical utilised products of salt is synthetic soda, chlorine caustic and ash for manufacturing of many chemical products includes both organic and inorganic. Also huge quantities of salt are also have been used directly for ice and snow control, flavouring agent, food preservative, as a mineral in animal diets, and broadly as a reagent for water softening in many industrial processes, will boost the NACL demand and market growth during forecast period.
Sodium chlorides are further used for the production of dyes, detergents, soaps, PVC, among others. It is recorded that demand for NACL by numerous end- user have increased as, development is seen in deicing, food and beverages, chemicals, and others are propelling the market growth. Pharmaceutical industry is also stimulating the market growth during the forecast period as sodium chloride is most preferred electrolyte solution amongst other. However, widespread use of salts in the deicing industries is expected to be an opportunity for the major competitors present in the market. Additionally, other noticeable factor is easy process of solar evaporation and low cost is expected to show positive effect on the market growth. The global demand for industrial sodium chloride is also impacted by climatic conditions. On the other hand, NaCl as a chemical reagent expected to rule the market.
Conversely, complications at the time of storage of the sodium chloride and low income margins are hindering the market growth during the forecast period.
Sodium Chloride Market Segment analysis:
By Application, Food Processing application segment is projected to expand at a constant rate. The same segment is also composed to acquire a share of XX.4% by the end 2027. Rapid growth in food and beverages Industry in developing economies in Asia Pacific exceeding the demand for sodium chloride and the crucial application of sodium chloride is observed in Food Preservatives and flavouring agent’s. preservatives property allow food to prevent form spoilage and makes them ready to eat such as, cheese, meat and many more. Additionally, it is widely accepted in the fermenting process of kefir, sauerkraut and pickles these products are highly consumed by population expected to boost the sodium chloride market in coming years. Hence, the growth in demand for above mentioned application is expected to have a positive impact on the demand for sodium chloride in coming seven years.
Sodium Chloride Market Regional Analysis:
Regionally, Asia Pacific is expected to dominate the sodium chloride market and is expected to grow at CAGR of XX % during the forecast period. Developing regions like India, China, and Japan are considered major contributors for the Sodium Chloride market growth in the Asia Pacific region. India, China and Brazil are focusing mainly on improving their pharmaceutical infrastructure and promoting their chemical manufacturing industry, growth in chemical industry in this region will increase the demand and ultimately driving the sodium chloride market size by 2027. In 2019 market size was valued US$ XX Bn in while in India, market size was valued XX Bn and expected to increase by US$ X.38 Bn in coming years. Furthermore, recent covid-19 pandemic outbreak will negatively hinder the market growth in Asia Pacific region.
North America will also generate several incredible growth openings to the overall market in the coming years though, water treatment and agricultural segment in North America is expected to be the key growth driver for the regional market. Furthermore, global sodium chloride market size was valued XX Bn and expected to increase by US$ XX Bn in coming years.
The objective of the report is to present a comprehensive analysis of the Global Sodium Chloride Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Sodium Chloride Market dynamics, structure by analyzing the market segments and project the Global Sodium Chloride Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Sodium Chloride Market make the report investor’s guide.
Scope of Sodium Chloride Market
Global Sodium Chloride market, By Grade
• Vacuum Salt
• Rock Salt
• Solar Salt
Global Sodium Chloride market, By Application
• Chemical Intermediate
• Food Processing
• Pharmaceuticals
• Agriculture
• Deicing
• Others
Global Sodium Chloride Market, By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
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