Dublin, March 19, 2024 (GLOBE NEWSWIRE) — The “Global Sodium Chloride Market by Type (Rock Salt, Solar Salt, Vacuum Salt), Grade (Food Grade, Lab Grade, Pharmaceutical Grade), Application – Forecast 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The Sodium Chloride Market size was estimated at USD 21.61 billion in 2022, USD 22.62 billion in 2023, and is expected to grow at a CAGR of 4.78% to reach USD 31.43 billion by 2030.
Sodium chloride, commonly known as salt, occurs from a chemical reaction between sodium and chlorine atoms. Sodium chloride is an ionic compound in the chemical formula of NaCl, representing a 1:1 ratio of sodium and chloride ions. Sodium Chloride is currently mass-produced from brine wells and salt lakes by evaporation of seawater or brine and used in several industrial, commercial, and household applications. Capabilities of NaCl to preserve food products and keep them safe to consume for a longer period increases its demand from the food manufacturing industry. In addition, extensive use of NaCl in wastewater treatment plants and manufacturing of several industrial chemicals creates a stronger landscape for the sodium chloride market. Besides several benefits, production of NaCl contaminates groundwater and consumes higher energy, which results in a hampering factor for the market. However, the emergence of low cost sodium chloride-based electric batteries is creating lucrative scope for the global sodium chloride market.
Regional Insights
The production and consumption of sodium chloride across developed and developing economies are governed by its utilization as a raw material in fertilizer, metallurgy, pharmaceuticals, dyeing, and snow-melting agents.
The production of sodium chloride is concentrated in the Netherlands, Germany, India, China, Australia, and Canada, among others, due to the availability of large salt mines and access to seawater. The economies and manufacturers are focused on further improving the quality and quantity of sodium chloride produced to keep up with the soaring demand from application areas.
The growing population rates and demand for sodium chloride in the food & beverage industry as a preservative and flavor enhancer are soaring its usage in India, China, South Korea, and Japan.
In addition, Germany, the United States, and other European countries have been investing heavily in developing new types of sodium chloride battery technologies using extensive expertise as the demand for energy storage has increased in recent years. The continuous expansion of production capacities by market players coupled with the crucial role played by sodium chloride in pharmaceutical, food & beverage, and other industries is expected to proliferate its utilization in the coming years.
Market Segmentation & Coverage
This research report categorizes the Sodium Chloride Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Rock Salt
- Solar Salt
- Vacuum Salt
- Grade
- Food Grade
- Lab Grade
- Pharmaceutical Grade
- Reagent Grade
- Application
- Chemical Production
- Deicing
- Feed Additive
- Flavoring Agent & Food Preservative
- Pharmaceutical
- Water Treatment
For more information about this report visit https://www.researchandmarkets.com/r/qjuzzg
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