Sodium Chloride Industry Size, Share, Demand & Growth by 2033
The sodium chloride industry is valued at US$ 44.4 Billion in 2023 and is anticipated to value at US$ 67.4 Billion by 2033. The Sales of sodium chloride are likely to grow at a CAGR of 4.4% during the forecast period.
There is a growing demand for sodium chloride in the
chemical sector to develop products such as dyes, paper, plastic, rubber, and
detergents to advance market growth. Feedstock chemical is highly used in
developing chemical products, which in turn boosts the market. An increase in
the adoption of sodium chloride by manufacturing companies is observed to make
polyester, cleaning tools, and machinery.
Moreover, the growing adoption of sodium chloride by
the food and beverage industry increases the shelf life of food and enhances
its quality. The demand for sodium chloride to preserve foods such as meat and
cheese is also likely to increase market opportunities during the forecast
period.
The manufacturers are growing in the pharmaceutical
industry to treat dehydration and excessive sweating and with increasing
adoption of sodium chloride. In addition, there is a growing demand for sodium
chloride from the healthcare sector to maintain blood pressure and relax
patients’ muscles.
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End-use Industries Propel the Sodium
Chloride Market Growth
An increase in the demand for alkaline products such
as chlorine, soda ash and caustic soda is impelling the sodium chloride market
growth. There are a few more factors that are expected to bolster the market
growth during the forecast period, such as the growing population, emerging
industries and disposable income. The rising adoption of sodium chloride in
various end-use industries such as water treatment, animal feed, agrochemicals
and oil & gas is the key factor contributing towards market expansion.
A Glimpse of Top Countries in
the Sodium Chloride Market
The US dominates the global market by recording a CAGR
of 3.8% with a valuation of US$ 4.0 Bn during the forecast period. Growing
disposable income and rising end-use industries such as chemical and food are
advancing the US market size. Additionally, the US market growth is fueled by
the increasing adoption of sodium chloride in the chemical sector to increase
the production of chemical products.
China is estimated to capture a CAGR of 6.2% with a
valuation of US$ 2.9 Bn during the forecast period. Increasing consumption of
sodium chlorine for cleaning equipment in the healthcare sector is observed in
China. The manufacturers are advancing the food and beverage industry to
maintain the shelf life of food and preserve it for a long time in China.
Key Takeaways:
- The
sodium chloride market valuation is expected at US$ 67.4 Bn by 2033.
- The
global market is increasing during the forecast period by witnessing a
CAGR rate of 4.4%.
- The
market in the United States is anticipated to grow at a CAGR of 3.8%
through 2033.
- The
China market is likely to uplift significantly during the forecast period
with a CAGR of 6.2%.
- The
Japanese market is expected to grow at a CAGR of 3.3% over the forecast
period.
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