The Sodium Chloride Market is valued at USD 44.0 billion in 2023 and is estimated to value at USD 67.4 billion by 2033, registering a CAGR of 4.4% during the forecast period. A few influencing factors that foster the market for sodium chloride are:
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There is increasing consumption of sodium chloride for better quality products such as glass, plastic, and paper. The demand for sodium chloride is further increasing in the food industry to enhance the quality of food and maintain its shelf life.
Moreover, the demand for ready-to-eat food, cheese, and meat increases the adoption of sodium chloride in the food and beverage industry. Moreover, fermenting foods such as pickles and other toppings are rapidly flourishing the market growth.
The growing demand for alkali products such as soda ash, chlorine, and caustic soda is also accelerating the demand for sodium chloride in the chemical sector.
Around 25% of the overall market through the forecast period, the chemical industry is driving the sodium chloride market.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.4% |
| Market Valuation (2023) | 44.0 Billion |
| Market Valuation (2033) | 67.4 Billion |
According to Future Market Insights’ analysis, the market was valued at 1.4% CAGR from 2017 to 2022 with a valuation of USD 42.3 Billion.
Short Term (2022 to 2025): The chemical, food, and beverage industries are the leading end users of sodium chloride. Primarily, economic development, booming population, and increasing disposable incomes are fuelling the demand. Sodium chloride is widely used in animal feed and agrochemicals.
Medium Term (2025 to 2028): The growth in the market is estimated to continue in the upcoming years owing to the growing demand for products such as sodium hydroxide and Chlor-alkali for applications in chemical and medical sectors as cleaning agents, osmotic agents, and used in peritoneal dialysis.
Long Term (2028 to 2032): Industrial salts are economically viable in comparison to natural salts, which influence the growth of the sodium chloride market. There is also an increasing usage of sodium chloride in other end-use sectors such as oil & gas and water treatment.
The sodium chloride market is estimated to reach a value of USD 67.4 Billion by 2033, witnessing a CAGR rate of nearly 4.4% over the forecast period.
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| Segments | Grade |
|---|---|
| Top Categories | Food |
| Historic CAGR | 1.6% |
| Forecast CAGR | 4.2% |
| Segments | Source |
|---|---|
| Top Categories | Sea water and brine |
| Historic CAGR | 1.5% |
| Forecast CAGR | 4.8% |
The food-grade category leads the market by capturing the maximum share. The grade segment includes agriculture, food, industrial, and pharmaceutical options.
Among these grade segments, food-grade products hold the largest market share with a CAGR of 4.2% during the forecast period. Moreover, there is growing adoption of sodium chloride from the global food and beverage processing sector to promote market expansion. The food grade captured a CAGR of 1.6% during the period from 2017 to 2022.
The global food and beverage processing sector is increasing the adoption of sodium chloride to promote market expansion. The food grade captured a CAGR of 1.6% from 2017 to 2022.
Sodium chloride is primarily sourced from seawater and brine, accounting for a CAGR of 4.8% during the forecast period. This easy access to raw materials and low infrastructural requirements support production activities even in low-income countries.
Solid sources are comparatively expensive for consumers. However, higher disposable incomes support growth prospects in the long term. However, seawater and brine recorded a CAGR of 1.5% from 2017 to 2022.
| Countries | USA |
|---|---|
| CAGR (2023 to 2023) | 3.8% |
| CAGR (2017 to 2022) | 1% |
| Valuation (2023 to 2033) | USD 4.0 Billion |
| Countries | United Kingdom |
|---|---|
| CAGR (2023 to 2023) | 3.0% |
| CAGR (2017 to 2022) | 0% |
| Valuation (2023 to 2033) | USD 2.2 Billion |
| Countries | China |
|---|---|
| CAGR (2023 to 2023) | 6.2% |
| CAGR (2017 to 2022) | 3.8% |
| Valuation (2023 to 2033) | USD 2.9 Billion |
| Countries | Japan |
|---|---|
| CAGR (2023 to 2023) | 3.3% |
| CAGR (2017 to 2022) | 1.3% |
| Valuation (2023 to 2033) | USD 488.8 Million |
| Countries | South Korea |
|---|---|
| CAGR (2023 to 2023) | 4.0% |
| CAGR (2017 to 2022) | 1.9% |
| Valuation (2023 to 2033) | USD 480.9 Million |
China is estimated to hold a CAGR of 6.2% with a valuation of USD 2.9 Billion of the global market share during the forecast period. The consumption of sodium chloride is high in the country due to the growing chemical and food industries.
There is growing adoption of sodium chloride by the manufacturing industries due to the increase in the production of glass, plastic, and paper in China.
Moreover, the increasing production of soda ash, Chlor-alkali, and sodium hydroxide fuel the demand for sodium chloride in China. In history, China captured a CAGR of 3.8% from 2017 to 2022.
The United Kingdom is estimated to witness a CAGR of 3.0% with a valuation of USD 2.2 Billion during the forecast period. The growing chemical industry in the United Kingdom is boosting the demand for applications production, including chlorine gas, rubber, and paper & pulp.
Sodium chloride is extensively available and inexpensive. It is a prime source for the production of sodium hydroxide and chlorine gas. Several different industries, such as textiles, plastics, chemicals, and agrochemicals, are surging the United Kingdom's market growth.
Additionally, the growing demand for sodium chloride to manufacture paints & coatings, PVC, polymers, and animal feed products is increasing the United Kingdom market opportunities.
The USA registers a CAGR of 3.8% with a valuation of USD 4.0 Billion in the global sodium chloride market during the forecast period. Relatively higher demand for processed & packaged food in the USA is driving growth in the coming decade.
There is a growing demand for sodium chloride from the food industry as it is used as the preservative in processed meats and pickles, which in turn advance the USA market size.
It also inhibits the growth of fungi, thereby bolstering the shelf life of food products. Food-grade sodium chloride also varies vastly in price, as it is used for multiple applications, from table salt to specialty salts in the USA market.
Moreover, changing lifestyles, increasing disposable income, and the convenience of consumption are the key factors propelling the USA market. Growing demand for packaged food, in turn, increases the consumption of sodium chloride in the USA market securing a CAGR of 1% from 2017 to 2022 during the historic period.
The increasing demand for packaged food, in turn, increases the consumption of sodium chloride in the USA In the historic period, the USA market secured a CAGR of 1% from 2017 to 2022.
Japan is one of the leading nations in the Asia Pacific region that promotes the global market by registering a significant share. Japan is projected to witness a CAGR of 3.3% with a valuation of USD 488.8 Million during the forecast period. Manufacturers in Japan are investing in the development of salt products for health foods and supplements without compromising on flavor.
Japan has a mature healthcare infrastructure with frequent investments in research and development. This important factor is expected to boost market expansion. During the historic period, Japan market secured a CAGR of 1.3% from 2017 to 2022.
The sodium chloride market in South Korea is projected to reach a value of USD 480.9 Million with a CAGR of 4% during the forecast period. The consumption of sodium hydroxide and soda ash is relatively higher in South Korea.
As a result, the demand for chemical-grade sodium chloride is expected to witness substantial growth in South Korea in the coming years. However, the lack of production facilities for high-purity variants remains a matter of concern. During the historic period, South Korea secured a CAGR of 1.9% from 2017 to 2022.
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The number of prominent players and top manufacturing companies in the market is adding value to the market expansion. These players keep their attention on capturing maximum output by investing huge amounts in the market.
The vendors are also promoting their new product launches by making several marketing strategies and well-planned technologies.
The market is a moderately competitive space dominated by global players offering cost-competitive raw materials. It is also moderately fragmented, where tier 2 and 3 players account for approximately 70% of the market.
It is characterized by a large supplier base and strong B2B networks. The market has robust partnerships throughout the value chain. There is an ample focus on strong research & development activities.
Moreover, Companies are aiming at strategic collaborations with end users and regional distributors to address the needs of an expanding customer base.
Suppliers of sodium chloride seek acquisition and regional expansion strategies to establish a stronger foothold. However, brand consciousness and aggressive marketing make it challenging for new entrants in the market. Furthermore, the advent of online sales is also expected to create positive growth prospects for market players.
Recent Developments in the Market:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Grade, Source, Product Foam, End Use, Region |
| Key Companies Profiled | Cargill incorporated; Compass Minerals International.; K+S AKTIENGESELLSCHAFT; Wacker Chemie AG; Akzo Nobel N.V.; Tata Chemicals Limited; Südwestdeutsche Salzwerke AG; INEOS GROUP HOLDINGS S.A; Hindustan Ltd; Dampier Salt Limited; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 29,853.6 million in 2023.
Google Inc and Yahoo Inc are the key players in the sodium chloride market.
Food is estimated as a key segment in the global market.
Players opt for innovations, collaborations and mergers.
The United States, China and the United Kingdom dominate the sodium chloride market.
1. Executive Summary | Sodium Chloride Market
2. Market Overview
3. Market Background
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Grade
5.1. Agriculture
5.2. Food
5.3. Industrial
5.4. Pharmaceutical
6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Source
6.1. Sea Water and Brine
6.2. Solid
7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Product Form
7.1. Liquid
7.2. Solid
8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
8.1. North America
8.2. Latin America
8.3. Europe
8.4. East Asia
8.5. South Asia Pacific
8.6. Middle East and Africa (MEA)
9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
13. South Asia Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
14. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
15. Key Countries Market Analysis
16. Market Structure Analysis
17. Competition Analysis
17.1. Cargill Incorporated
17.2. Compass Minerals International
17.3. K+S AKTIENGESELLSCHAFT
17.4. Wacker Chemie AG
17.5. Akzo Nobel N.V.
17.6. Tata Chemicals Limited
17.7. Südwestdeutsche Salzwerke AG
17.8. INEOS GROUP HOLDINGS S.A.
17.9. Hindustan Ltd
17.10. Dampier Salt Limited
18. Assumptions & Acronyms Used
19. Research Methodology
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Sodium Chloride Market
