Vacuum salt is in general favored for applications anywhere salt is utilized for the making procedure in unfrozen kind otherwise where it blends rapidly with fluids. The expansion of vacuum salts could be credited for the increase in the making of the refined food and beverage products, strong requirements from the water softening industry, increased making of preserved and processed meat products as well as an increased making of chlor-alkali products. However, the introduction of the seasonality of de-icing products, salt replacers along with superior pricing of vacuum salts is demanding the expansion of the global market for vacuum salt.
The global market for vacuum salt is anticipated to expand at a 3.4% value CAGR to account for an evaluation of about US$ 7,300 Million through the end of the projected period, up from an evaluation of around US$ 5,600 Million in 2017.
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Based on the region, the worldwide market includes North America, Latin America, Europe, Asia Pacific (APAC) and Middle East and Africa (MEA). APAC is the biggest region with huge growth prospects on account of growing consumption in households and a rising industrial sector. The region reflects higher market attractiveness and is expected to account for an estimate of over US$ 3.2 Billion through the end of the assessment year.
On the basis of the type, the global market includes briquette, fine and granular. The fine type category is expected to dominate the worldwide market with a high value and market share; nevertheless, this category is anticipated to expand at a relatively slow CAGR over the assessment period.
Based on the end user, the global market consists of industrial and household. The industrial category is projected to exceed the household category with a remarkably higher margin on account of higher demand in the chemical sector. However, the household category is anticipated to expand at a high 4.2% value CAGR all through the forecast period.
On the basis of the application, the overall market is categorized as the flavoring agent, water treatment, water softener, anticaking, de-icing and others. The de-icing category is projected to account for a significant estimation through the end of the assessment period. The flavoring agent category is anticipated to record a relatively high CAGR all through the forecast period.
Key Market Players
Some of the major companies functional in the global market includes
Tata Chemicals Ltd.
INEOS Group Limited
Dominion Salt Limited
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AB Hanson & Mohring
Cheetham Salt Limited
WA Salt Group
BGR International Ltd.
China Salt Jintan Co., Ltd.
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