Global Sodium Chloride Market by Grade, by End-Use, by Region and Segment, Forecasts 2020–2026

Global Sodium Chloride Market is valued to reach USD 18.5 Billion by 2024, growing at CAGR of 3.8% over the forecast period 2020–2026. Increase in utilization of sodium chloride as a reagent for chemical industry, rising chlor alkali market, growing demand in pharmaceutical industry and increasing demand for packed food are driving the market.

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Market Trends, Drivers, Restraints and Opportunity:

Significant demand for sodium chloride in the residential category is likely to enhance the market position in the upcoming years. In addition, manufacturing emphasis on producing quality products for consumption is contributing significantly
Moreover, the salt industry witness a high demand from several industries and manufacturing units. For instance, there is a high demand for chemical reagents such as soda ash, chlorine and caustic soda, which are further used in the production of detergents, soaps and dyes.
The pharmaceutical industry witness a robust demand for sodium chloride further triggering the market growth in the years to come
Salt storage and preservation techniques across various industries are creating immense growth opportunities in the following years
However, availability of counterfeit products, lack of standardization and high consumer demand for counterfeit products restricts the market growth throughout the forecast span