Global Sodium Chloride Market Size, Share, Growth, Analysis, and Forecast to 2030
The global sodium chloride market reached almost USD 29.12 billion in 2021 and is projected to grow to around USD 34.51 billion by 2028, expanding at a compound yearly growth rate (CAGR) of approximately 2.8% throughout this forecast period.
The analysis investigates the various factors that are expected to have an effect on the demand for sodium chloride throughout the course of the forecast period, including market drivers, limitations, and challenges. In addition to this, the research investigates the possibilities of new markets for sodium chloride.
Sodium Chloride Market: Overview
The ionic compound known as sodium chloride has the chemical formula NaCl. It is composed of chloride and sodium ions in an equal ratio, making it an ionic compound. The compound sodium chloride, which can also be referred to as salt, table salt, or just plain salt, dissolves very quickly in water. It has the appearance of a white crystalline solid and possesses the attributes of being emetic as well as flame retardant. It is essential for the maintenance of the electrolyte balance of the fluids that make up a person's body in the human body.
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In addition, the body needs NaCl in order to absorb and transport nutrients, control blood pressure and fluid balance, transmit nerve impulses, and contract and relax muscles. NaCl also plays a role in these processes. In recent years, there has been a significant rise in the usage of NaCl in a range of different businesses, including those dealing with the treatment of waste and water, textiles, and medications.
Sodium Chloride Market: Growth Drivers
It is possible that the growth of the market will be propelled by the expansion of the chemical and pharmaceutical industries in developing countries.
Expanding their commercial activities is one strategy that developing nations like China, India, South Korea, Brazil, South Africa, and Mexico are employing in order to fortify their national economies. In order to lessen their reliance on industrialized nations, these nations are pouring significant resources into the development of their own chemical and pharmaceutical industries. The increased demand for sodium chloride as a raw component in personal care products and as an intermediary in the production of chemicals is one of the key factors contributing to the expansion of the market.
Sodium Chloride Market: Segmentation
The global market for sodium chloride may be broken down into three sections: the source, the end-user, and the region. Rock salt, seawater, and various forms are the three primary categories that make up the market today. The end-use sector of the market is segmented into the following categories: food-grade salt; the chemical industry; road de-icing; and other applications.
Sodium Chloride Market: Competitive Landscape
The global sodium chloride market report summaries detailed information of top key players such as Wacker Chemie, INEOS, Tata Chemicals, Nouryon, Cargill Inc, Swiss Salt Works, Cheetham Salts, Akzo Nobel, Dampier salts, and others.
Global sodium chloride market is segmented as follows:
By Source
Sea Water
Rock Salt
Others
By End Use
Chemical Industry
Food Grade Salt
Road De-icing
Others
By Region
North America
The U.S.
Canada
Europe
France
The UK
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Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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