Rock salt is the common name for Halite or Sodium Chloride mineral. With a chemical formula of NaCl, we find that rock salt has a burgeoning market due to the rapid increase in the global population. Rock salt forms due to water evaporation from large water bodies. With climate change on the rise, and global temperatures rising, the evaporation in these bodies increases. Thus, we will find that rock salt is more common due to the ever-increasing global population and climate change.
The Global Rock Salt market is expected to witness a CAGR of 3.58% during the forecast period. The revenue generated by the global Rock Salt market in 2021 was over USD 4,337.25 million and is expected to generate revenue worth USD 5,625.21 million in 2028. Therefore, the incremental growth opportunity offered by the global Rock Salt is estimated to be USD 40 billion between 2022 and 2028.
Interesting Facts about Rock Salt Industry
Rock Salt is formed by evaporation of seawater and precipitation of halite
China leads rock salt consumption
Rock Salt is a substitute for common salt
The large volume of Rock Salt production comes from the Himalayas region (India, China, and Nepal)
Rock salt is used to soften tissues in leather
The global rock salt market is predicted to grow at a stagnant rate from 2022 to 2028. There is an increase in the chemical industry, and the climatic conditions have also led to the increasing persistence of extreme conditions. These extreme conditions lead to excessive snow; the municipalities need salt to assuage the snow and ice. Rock salt can also be a healthy substitute for common salt. Many people are shifting to more nutritious alternatives in their everyday lifestyles. Thus, rock salt can help with that.
Geographically, given that much of the rock salt in the world comes from the Himalayas, the Asian-Pacific region can dominate the rock salt market. India, China, and Japan will likely hold the most market here. There are many applications for rock salt. Most of these applications are that of the chemical or pharmaceutical industries.
Strong Demand from Chemical Industry
Chemical, Pharmaceutical, Cosmetics, and Food and beverages are major application markets for the rock salt industry. The main driver of the industry is the chemical industry. Rock salt is used in the chemical industry to obtain chlorine. Chlorine, in turn, is used for several applications, such as in the pulp and paper industry. Both of these industries use a large amount of chlorine for the bleaching process of paper. There is also a need for chorine in the tanning and textile industry. It heals and softens tissues in the leather.
Growing Consumption in Food & Beverage Industry
Another driver for rock salt is the food industry. Rock salt is used in the food industry for using rock salt as a flavoring in snacks, meats, and preserved items. Rock salt can also be used in the food industry as a preservative. Many people also use it as a medicine or even a relic as they believe that rock salt has healing powers as it is a pure earthly component. People use it as a medicine to resolve issues in the gut. It is also used in the skincare industry as it has exfoliants that allow for cleansing and detoxification, which means that it can remove the dead skin and refresh the skin from the inside out.
Highly Corrosive and Potential Pollutant of Ground Water
Rock salt serves many purposes and is a highly cost-efficient product for clearing up snow on the road. It also helps keep the traffic and the economy flowing. However, there are other challenges it poses. It can cause corrosive damage to all the motor vehicles and concrete surfaces around them. They can also damage wildlife and causes shelter and food loss. It can also affect water quality as it may leach into water sources. If there's any contamination in water, it can cause hypertension in humans.
Hypermarkets/Supermarkets, Convenience stores, Specialty Food stores, Wholesale Stores, Online stores, and Others are effective sales channels for the rock salt industry. Abraxus salt, American Rock Salt, ass Minerals, Cargill, Detroit Salt Com, Esco, Eurosalt AB, Gama, Gunther Salt, Jiangsu Jingshen, Maxisalt, Meodity, Multi rock salt, Salt Natural, Sian Enterprises, Tabarak Fertilizers and The International Company for Salt are significant players operating in the global rock salt industry.
Frequently asked questions about global Rock Salt industry
Likewise other industries, COVID 19 also taken a toll on Rock Salt market with around 9.12% decline in its revenue in 2020 as compare to 2019
Asia Pacific is the largest regional market with highest share in the total volume of Rock Salt consumed in 2021
Growing demand for from chemical and food & beverage industry to lead the demand for rock salt in the years to come
Chemicals segment dominated the Rock Salt consumption in 2021 with over 35% share
Supermarkets/Hypermarkets was the largest Sales channel of Rock Salt in 2021 with over 20% share
North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.)
Major Players Analysed
Abraxus salt, American Rock Salt, ass Minerals, Cargill, Detroit Salt Com, Esco, Eurosalt AB, Gama, Gunther Salt, Jiangsu Jingshen, Maxisalt, Meodity, Multi rock salt, Salt Natural, Sian Enterprises, Tabarak Fertilizers and The International Company for Salt
