Albany, NY -- (SBWIRE) -- 10/16/2018 -- The global sodium chloride market is positively influenced by increased demand for packaged food products. Growing chemical industries especially in developing countries such as China and India are boosting demand for chlor-alkali products such as chlorine, soda ash, and caustic soda. Rising demand for sodium chloride from several industries including chemicals, food and beverages, and de-icing is pushing growth of the market. However, difficulties encountered during storage of sodium chloride salts and low profit margins are some of the factors crimping market growth. Nevertheless, extensive use of sodium chloride salts in deicing industries is predicted to create opportunities for players in the market.
Read Report Overview @
https://www.transparencymarketresearch.com/sodium-chloride-market.html
The report has some interesting figures for the global sodium chloride market – it is predicted to attain the value of US$19.37 bn by the end of 2024, increasing from a US$14.89 bn valuation obtained in 2017. The market is expected to expand at a CAGR of 3.8% over the forecast period of 2017-2024.
Application in Manufacture of Chlor-alkali Products Catapults Demand
The report has segmented the world sodium chloride market on the basis of application and grade. On the basis of application, the market could see a classification into chemical intermediate, deicing, water treatment, flavoring agents and food preservative, animal feed additives, and pharmaceuticals. Amongst all, chemical intermediate dominated the market in the recent past and is expected to continue dominating over the forecast period. Chlorine, soda ash, and caustic soda are extensively used in the chemical industry in various products including PVC, dyes, glasses, detergents, and soaps. Rising demand for these products globally is a key factor anticipated to propel growth of the market.
Nevertheless, the flavoring agent and food preservative segment is gaining momentum and expected to contribute substantially to the growth of the world sodium chloride market in the coming years. Flavoring agents and food preservatives are generally used in the packaged food industry. Swelling demand for packaged food is boosting the use of sodium chloride in the food and beverages industry.
On the basis of grade, the world sodium chloride market is classified into rock salt, solar salt, and vacuum salt. Of these, vacuum salt is contributing substantially to the revenue of the market and expected to continue to remain dominant in the near future. Nevertheless, solar salt is predicted to find considerable growth during the forecast period. Solar salt and vacuum salt are extensively used in water treatment processes, drilling applications, and deicing industries. Growth in these industries could eventually support the rise of the market.
Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=7304
High Demand from End-use Industries Helps Asia Pacific to Hold Substantial Stake
On the basis of region, the international sodium chloride market is mainly classified into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Asia Pacific is holding a substantial share of the market owing to the rise of profit-making industries including chemical and food and beverages. High growth in these industries are offering lucrative opportunities for key players as well as new entrants.
Markets in North America and Europe are experiencing steady growth because of their 'mature' status. Both the markets see consumption of sodium chloride salts in deicing industries. Owing to a large number of deicing industries in the regions, they are envisaged to hold notable shares of the market.