Vacuum Salts Market Share, Size, Trends, Industry Analysis Report, By Type (Dried Vacuum Salt and Undried Vacuum Salt); By Particle Type; By Application; By Region; Segment Forecast, 2023-2032
- Published Date:Jul-2023
- Pages: 117
- Format: PDF
- Report ID: PM3471
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global vacuum salts market was valued at USD 6,346.23 million in 2022 and is expected to grow at a CAGR of 4.5% during the forecast period. The growing urbanization across both developed and developing countries and growing demand for clean and safe water, along with the rapid growth in the food & beverage industry and widespread utilization of the anti-caking processes, are the primary factors propelling the global market growth and demand. Additionally, vacuum salts are gaining popularity and traction as an important chemical feedstock and are used in the production of various industrial chemicals such as soda ash, caustic soda, and chlorine are also likely to fuel the demand and will push the market forward in the forecast period.
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Moreover, many companies are exploring using renewable energy sources, such as solar power, to produce vacuum salts, as they can help reduce carbon emissions and improve the product's sustainability. Companies are further exploring new applications for the product, including in producing advanced ceramics, pharmaceuticals, and other high-tech products, which will positively impact the global market over the coming years.
The outbreak of the COVID-19 pandemic has significantly impacted the growth of the vacuum salts market. The rapid emergence of the deadly coronavirus has disrupted the global supply chains because of the delays and shortages of raw materials across the globe. The temporary closure of many manufacturing facilities from end-user industries and a huge reduction in industrial activity resulted from imposed lockdowns and other stringent regulations.
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Industry Dynamics
Growth Drivers
The rapid expansion in the paper and pulp industry, especially in several key developing countries, including China, India, and Malaysia, as vacuum salts are widely used in the pulping process to remove impurities and improve the quality of the final product coupled with the rising number of governments globally are implementing on various initiatives to promote the use of renewable energy sources and reduce carbon emissions, are among the key factors boosting the growth of the global vacuum salts market.
Furthermore, the growing prevalence and popularity of high-purity vacuum salt, mainly because of the rising consumer awareness regarding several health concerns and growing consideration of the product as one of the major essential components in chemical and food & beverage sectors, are further anticipated to fuel the demand and growth of the market.
Report Segmentation
The market is primarily segmented based on type, particle type, application, and region.
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By Type |
By Particle Type |
By Application |
By Region |
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Dried vacuum salt accounted for the largest market share in 2022
Dried vacuum salt accounted for the largest market share in 2022 and is likely to grow significantly over the anticipated period. The growth of the segment market can be highly attributable to the growing demand for processed foods across the globe, as it is a major key ingredient in the food processing industry and is used in a wide range of applications such as flavoring, preservation, and texturizing. In addition, dried vacuum salt is also largely used in water treatment to remove impurities and ensure safe drinking water; hence, with the rising demand for clean water, the need for dried vacuum salt will likely gain significant traction.
The undried vacuum salt segment is projected to grow at the fastest growth rate over the next coming years, which is mainly driven by its numerous beneficial properties or characteristics, including high purity, versatility, extended shelf life, and cost-effectiveness as compared to other types of salts available in the market. Additionally, the products have gained huge popularity worldwide as a healthier alternative to traditional salt because it contains fewer impurities and minerals.
Fine segment held the significant market revenue share in 2022
The fine segment held a significant market share in revenue in 2022, mainly due to its widespread utilization in animal nutrition and water treatment, and is being manufactured to stringent food hygiene standards. Moreover, the surging demand for the products in applications of hospitals and food industries and the range of use in industry segments of drying and washing are also likely to fuel the segment market growth.
The granular segment is projected to grow substantially during the anticipated period due to the growing use of the product in water-softening applications, which involves the removal of hard water minerals like calcium and magnesium. As more people become more and more aware of the benefits of soft water for cleaning, bathing, and other household activities, fueling the segment market growth at a rapid pace.
Flavoring agent segment is expected to witness highest growth during forecast period
The flavoring agent segment is projected to grow at the highest CAGR throughout the forecast period due to the surging demand for tasty and flavored food products all over the world and the growing prevalence of using the products to enhance the taste and aroma of food products, which makes them more appealing to consumers. The flavoring agents offer numerous health benefits, such as anti-inflammatory and anti-oxidant properties, along with developing several new and improved flavoring agents, likely to bode well for market growth.
The water softener and water treatment segment is projected to grow at a considerable growth rate over the study period, which is largely attributed to increasing consumer awareness about water pollution and its several adverse effects on health and growing utilization of the product to remove contaminants and impurities from water which makes it's safer and healthier for consumption.
North America region is projected to witness significant growth during forecast period
The North American region is projected to witness the highest growth rate of a healthy CAGR over the coming years. The regional market's growth can be highly accelerated to exponential growth in several end-use industries, including food & beverages, pharmaceuticals, and chemicals, along with the increasing prevalence among millennials of high-quality food items, especially in major developed countries like US and Canada.
Asia Pacific region led the industry market with the largest revenue share in 2022, which can be mainly attributed to surging demand from numerous industries and growing population burden, especially in countries like India, China, Indonesia, South Korea, and Thailand, coupled with the rapid rate of urbanization which leads to rising in the construction industry, that positively influences the market growth in the region. Several governments in the APAC region are promoting the use of renewable energy sources such as solar power, as vacuum salts are used in producing solar panels, further fueling the demand for products at a significant pace.
Competitive Insight
Some of the major players operating in the global market include Tata Chemicals, NOBIAN, Salins, Amra Salt Factory, Dominion Salt, K+S Aktiegesellschaft, Wilson Salt, Akzo Nobel, Nouryon Chemicals Holdings, Gayathri Salts, Cargill Incorporated, Atisale., INEOS Group, WA Salt Group, Infosa, Cerebos, Cheetham Salt, Salzwerke, and CIECH.
Recent Developments
- In April 2022, APEDA announced the launch of affordable gluten-free products for all-age groups, including ready-made milled food products like Pongal, Khichadi, Noodles, Biryani, & Upma.
- In March 2021, Nouryon announced divesting its Salt Specialties segment to Salins Group. It includes three locations for the packaging and distributing of several specialty salts in Hengelo, Mariager, & Gothenburg. The company will supply the Salins with vacuum salt from its dedicated mines at their respective locations.
Vacuum Salts Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 6,614.04 million |
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Revenue forecast in 2032 |
USD 9,803.66 million |
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CAGR |
4.5% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments covered |
By Type, By Particle Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Tata Chemicals Ltd., NOBIAN, Salins, Amra Salt Factory, Dominion Salt, K+S Aktiegesellschaft, Wilson Salt Ltd., Akzo Nobel N.V., Nouryon Chemicals Holdins B.V., Gayathri Salts, Cargill Incorporated, Atisale S.p.A., INEOS Group Limited, WA Salt Group, Infosa, Cerebos Ltd., Cheetham Salt Group, Salzwerke AG, and CIECH S.A. |
FAQ's
The global vacuum salts market size is expected to reach USD 9,803.66 million by 2032.
Key players in the vacuum salts market are Tata Chemicals, NOBIAN, Salins, Amra Salt Factory, Dominion Salt, K+S Aktiegesellschaft, Wilson Salt, Akzo Nobel, Nouryon Chemicals Holdings.
North America contribute notably towards the global vacuum salts market.
The global vacuum salts market is expected to grow at a CAGR of 4.5% during the forecast period.
The vacuum salts market report covering key segments are type, particle type, application, and region.
