Increasing usage of Vacuum Pan Salt in chemical processing and major proliferation and usage in various industry verticals such as water and wastewater treatment, de-icing, and others.
Vacuum Pan Salt Market Size – USD 15.73 Billion in 2019, Growth - CAGR of 5.4%, Trends – Growing usage in detergent soap processing
The global Vacuum Pan Salt Market is projected to reach a value of USD 24.14 Billion in 2027. Growing usage of Vacuum Pan Salt as a building block in the chemicals industry, major uplift in demand for Vacuum Pan Salt in detergent and soap and agro-chemical manufacturing, and rapidly increasing in deployment of wastewater and water treatment solutions in industrial municipal sewage services are major factors driving market growth.
Rise in domestic production of dyes and chemical pigments is also supporting growth of the market. Also, rising consumption of pesticides, pharmaceutical drugs, and cosmetics in Asia Pacific and considerable rise in production base in countries such as China, Japan, and India is driving demand for Vacuum Pan Salt to a significant extent.
In addition, growing number of pharmaceutical industries and usage of Vacuum Pan Salt in the manufacture of drugs in APAC countries such as India, China, and Japan, and increasing growth in consumption of pesticides in the region is expected to contribute significantly to global market revenue and growth.
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Top Companies: Compass Minerals America Inc., K+S AG, China National salt Industry Co., Cargill, Inc., Mitsui Co. Ltd., Tata Chemicals Ltd., Exportadora de Sal de C.V., Dominion Salt Ltd., Rio Tinto Group, and Morton Salt, among others.
Further Key Finding from the Report Suggestion:
- In February 2020, Stone Canyon Industries Holdings LLC announced its agreement of acquisition of business of Kissner Group Holdings LP, which is a industry-leading pure-play producer and supplier of salt in North America.
- Considerable surge in demand for clean and safe water has been resulting in rising investments in water treatment facilities globally, hence driving overall market growth.
- The solar salt segment accounted for largest revenue share of 42.6% in 2019, and is expected to register at a CAGR of 6.4% during the forecast period. The higher market share accounted for by the solar salt segment is attributed to increasing focus and investments in wastewater treatment plant operations and facilities, and is resulting in increasing demand for solar salts for a varying range of applications – including for topping up brine tanks and water softeners – in these facilities.
- The market in North America is projected to account for 27.2% revenue share in the global Vacuum Pan Salt market by 2027, owing to significantly high usage of Vacuum Pan Salt in de-icing and chemical processing applications.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Vacuum Pan Salt Market is segmented into:
End-Use Outlook (Revenue: USD Billion; 2017-2027, Volume: Kilo Tons; 2017-2027)
- Chemical Processing
- De-icing
- Oil Gas
- Water Treatment
- Agriculture
- Others
Source Outlook (Revenue: USD Billion; 2017-2027, Volume: Kilo Tons; 2017-2027)
- Brine
- Salt Mines
Product Outlook (Revenue: USD Billion; 2017-2027, Volume: Kilo Tons; 2017-2027)
- rock Salt
- Salt in Brine
- Solar Salt
- Vacuum Pan Salt
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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