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(MoneyNewsWire.Net, August 01, 2018 ) Salt mining includes the process of extraction of halite commonly known as rock salt from evaporating formations. Salt is a mineral composed primarily of sodium chloride (NaCl) and is present in vast quantities in seawater, where it is the main mineral constituent.
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The global salt mining market was valued at $15 billion in 2017, and is
expected to be driven by the increasing consumption of salt. Worldwide salt manufacturers produce salt not only for consumption but also for a non-edible and industrial purpose.
Asia Pacific was the largest geographic region in the market in 2017, accounting for nearly two-fifths of market share.
The salt market in The Business Research Company’s report is segmented into: rock salt, salt in the brine, solar salt, and vacuum pan salt.
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The USA was the largest country in the salt market in 2017, accounting for nearly one-fifth of the global salt market share. This can be attributed to the country’s economic power, abundant mineral resources, increased energy demand, and high government and private expenditure in the manufacturing industry.
The top five competitors in the market are China National Salt Industry Corporation (CNSIC), AkzoNobel N V, Infos, K+S, and Rio Tinto Plc. China National Salt Industry Corporation was the biggest player in 2017. China National Salt Industry Corporation, along with its subsidiaries, is a state-owned enterprise of China which produces and supplies chemical salts in China and internationally. It offers industrial salt, table salt, iodized salt, caustic soda, and salt chemicals. It also provides regenerating agents of salts. The company is based in Beijing, China.
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