The Sodium Chloride Market is calculated with the USD value of 28.64 million in the year 2020, with the CAGR of the value 2.3%. And this is expected to reach the value of the USD of 32.09 million by the forecasting year 2026 with the CAGR of the value of more than 3.5%.
Sodium chloride is available in the crystal salt form, which is used in a huge amount in many industries. Some of the industries where sodium chloride are used in the salt form are the chemical intermediate, water treatment, deicing, animal feed additives, flavouring and food preservation. The sodium chloride salt is been obtained from the seawater evaporation method. This sodium chloride is also commonly referred to as table salt or common salt.
The Sodium Chloride Market was impacted greatly due to the spread of the pandemic. Because of the pandemic spread, many countries have implemented the lockdown. Due to this, the large scale industries like the highways, runways and chemical manufacturing units and also many industries were halted. But on the other side to maintain self-hygiene people are using soaps and detergents to safeguard them from the spread of the pandemic. So this had brought a positive impact among the soap and detergent manufacturing companies during the spread of the pandemic. Even the pharmaceutical manufacturing companies also brought the same positive impact on the growth of the Sodium Chloride Industry.
The increase in the usage and the demand for sodium chloride has raised because of the low cost-effectiveness of sodium chloride in the market. The increase in the need for sodium chloride in the chemical industry in recent days due to the spread of the pandemic has created the high demand and also paved the way for the growth of the Sodium Chloride Market Share. Because it acts as a reagent from chemicals like soda ash, chlorine and caustic soda. Even the usage of sodium chloride in pharmaceutical companies have been increased after the pandemic and is also expected to dominate the share in the future.
The growth opportunity of the Sodium Chloride Market Share has increased because of the increasing demand for packed and preserved foods. As sodium chloride is one of the main components in packing food. So the growth of the Sodium Chloride Market has the chance of increasing because of its important role in the food and beverages industry.
Secondly, the growth of the Sodium Chloride Market Size has increased because of the rising demand for Chlor – alkali products in the Asia Pacific regions. Even the usage of sodium chloride in animal feed and pharmaceutical companies is also one of the reasons for the growth in the Sodium Chloride Market Size.
In recent days, people are affected by many diseases gradually and also the rise in health consciousness has affected the Sodium Chloride Market Value. As people are consulting dieticians and doctors to keep their bodies healthy. So they do prefer the clients to have the sodium chloride in the balanced consumption, this also acts as the restraining factor in the growth of the Sodium Chloride Market Value.
The main restraining factor is the complication in the storage of sodium chloride. The fluctuations in the snowfall also impact the production of sodium chloride.
The main challenge is to compensate the demand for usage of Sodium chloride usage in recent times in the soap and detergent manufacturing companies and then in the pharmaceutical companies due to the spread of the pandemic. As there is a lack of transportation and the lack of labours to produce the raw materials because of the lockdown impact. So it was a great deal to produce sodium chloride during the pandemic period.
Another challenge is the high cost of raw materials. As the impact of the pandemic, the whole world was halted to avoid the spread of the pandemic. So the cost of the raw materials has increased.
Cumulative growth analysis
The Sodium Chloride Market Growth is rapidly increasing because of its demand in recent days. As the increase in the need for sodium chloride in the recent days in many sectors like the soap and detergent, food and beverages, water treatment, oil and gas are the main source for the demand. The increase in the usage of saline drops in recent days has increased because people started to use nasal sprays to get sudden relief in congestion and allergies. These are some of the factors that paved way for the growth of the Sodium Chloride Market Growth.
Value chain analysis
The increase in the usage of sodium chloride in the recent days in many production processes like this is used as the reagent in producing the fertilizers, plastics and also in manufacturing the animal feed. This creates a rising in demand for sodium chloride. But due to the snowfall and climate change, production is been slowed downed. The low-cost production is also acting as the restraining factor for the Sodium Chloride Market Growth.
Market segment overview
The Middle East and Africa
Due to the increase in the demand for sodium chloride in many industries the manufacturing companies are working hard to compensate for the demand which is created by the industries. Due to the pandemic impact, the production of sodium chloride has been decreased due to insufficient raw materials. Also, there were many losses because of the lack of transport across the world. So after the pandemic, the demand has increased, to compensate for the lost key players are expanding their companies across many regions and also using many strategies to create growth in the market.
So to gain a positive impact among the end-users the key players are aiming to collaborate with the end-users and the regional distributors to gather their needs and add those needs while delivering the product. They are using this trick to increase their Sodium Chloride Market Revenue.
Global Sodium Chloride Market Share, by Grade, 2018 (%)
Source: MRFR Analysis
The Asia Pacific region is dominating the Sodium Chloride Market with the highest amount of the share. This is because of the usage of Chlor-alkali products in the industries. China is the leading producer of sodium chloride in the world this is because of the high consumption of salt in the chemical, water treatment and food and beverage industries.
North America is the second region to hold the share of the Sodium Chloride Market. This is because of the contribution of the US in producing medicine in the pharmaceutical sector.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, manufacturing process, grade, application, and region|
|Geographies Covered||Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.|
|Key Vendors||Cargill, Incorporated (US), Dow (US), K+S AKTIENGESELLSCHAFT (Germany), ICL Fertilizers (Israel), The Henrique Lage Salineira do Nordeste (Brazil), Dominion Salt (New Zealand), Tata Chemicals Ltd (India), Maldon Crystal Salt Co (UK), Akzo Nobel N.V. (The Netherlands), Compass Minerals (US), jinleichem (China), Rio Tinto Limited (Australia), and Morton Salt, Inc (US).|
|Key Market Opportunities||The growing demand for common salt in less tapped markets, such as animal feed and pharmaceutical is likely to create lucrative opportunities|
|Key Market Drivers||The growing need for de-icing of snow in cold countries and low-cost raw material for the production of high-end chlor-alkali products|
The sodium chloride market is projected to grow at a 3.4% CAGR between 2016-2025.
The APAC region is expected to command the largest share in the sodium chloride market.
The sodium chloride market is predicted to touch USD 21.3 billion by 2025.
Different types of sodium chloride include vacuum, brine, solar salt, and rock salt.
Increasing use in de-icing and easy availability is boosting market growth.
Complexities during storage may restrict market growth.