The global rock salt market is segmented into application such as chemical, pharmaceutical, cosmetics and food and beverages out of which, chemical segment is expected to dominate the overall rock salt market and is envisioned to grab a notable CAGR by 2024. Likely, growing adoption of rock salt for water treatment applications is envisioned to bolster the growth of global rock salt market. Furthermore, high demand for rock salt from food and processing industry is also projected to intensify the growth of rock salt market in near future.
Global rock salt market is anticipated to mask a tremendous CAGR during the forecast period i.e. 2017-2024. Additionally, wide scale application of rock salt in various industries is projected to flourish the growth of rock salt market. Moreover, the global rock salt market is projected to account noteworthy revenue by the end of 2024.
In terms of regional platform, Asia-Pacific region accounted for the largest market in 2016. Moreover, in Asia-Pacific region the augmented demand for rock salt is witnessed from chemical industry which is expected to upsurge the growth of rock salt market over the forecast period. In addition to this, China and India are the dominating countries owing to presence of numerous rock salt mines. Further, presence of major key vendors of rock salt in this region is also propelling the market of Asia-Pacific region. Apart from this, North America and Europe region accounted a robust growth in rock salt market due to growing adoption of convenience food.
Wide Scale Application
Growing application of rock salt in various industries such as chemical, pharmaceutical and others is believed to be the dynamic factor behind the rapid growth of rock salt market. Moreover, rising usage of rock salt by chemical industry for obtaining chlorine and textile and tanning industries need chlorine in brine to heal and soften the tissues are some of the major factors triggering the market of rock salt.
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Escalating Demand for Rock Salt
Rising adoption of rock salt by food industry for flavoring of cereals, snacks, meats and others are envisioned to flourish the growth of rock salt market. Moreover, growing adoption of rock salt for de-icing owing to rock salt is highly cost-effective product available for removing snow and ice which is projected to bolster the growth rock salt market. On the contrary, rock salt can cause corrosive damage to motor vehicles and over dosage of salt can damage wildlife are some of the factors hampering the growth of rock salt market across the globe.
The report titled “Rock Salt Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global rock salt market in terms of market segmentation by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global rock salt market which includes company profiling of Sian Enterprises, Tabarak Fertilizers, Eurosalt AB, Maxisalt, Meodity, The International Company for Salt, Multi rock salt, Salt Natural, Abraxus salt. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global rock salt market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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