Salt Market Size to Grow by 33.57 Million MT through 2020-2024 | Forecast and Trend Analysis
Technavio has been monitoring the salt market and it is expected to grow by 33.57 mn MT, accelerating at a CAGR of almost 2% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Salt Market: Emerging Trends to Impact Market Growth
Increasing production of salt by solar evaporation process is expected to emerge as a key trend in the salt market. 51% of the market growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for salt in the region. Salt is also used extensively in the European and North American countries as a deicing and anti-icing agent. It is widely used for road maintenance in winters in these regions as it is more effective and economical than other counterparts.
This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Salt Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Cargill Inc., Dow Inc., INEOS Group Holdings SA, K+S AG, Nouryon Chemicals Holding BV, Solvay SA, Sudwestdeutsche Salzwerke AG, Tata Chemicals Ltd., Tate & Lyle Plc, and Wacker Chemie AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
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