The U.S. salt market is anticipated to increase from its current market size of US$ 2.97 by the end of 2032. Over the last five years, from 2017 to 2021, the salt market in the United States expanded at a value-based growth rate (CAGR) of 3.5% each year.
On the U.S. market, salt is quite popular because it is one of the most essential minerals that can be naturally extracted and used in a variety of ways. The low cost, abundant availability, and straightforward manufacture of salt attract a wide range of end-user businesses from all over the world.
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Salt is principally produced using three manufacturing processes: inland brines or seawater solar evaporation, brine mined rock salt, and extraction through solution mining. Furthermore, the momentous growth of the salt-based industry in the U.S has resulted in the growth of industrial salt production through the solar evaporation process.
Owing to the availability of longer coastlines and salty lakes, salt manufacturers in the U.S. are producing salt by utilizing the solar evaporation process. Solar evaporation’s reasonable cost and easy processing further drive the acceptance of this method by various manufacturers/producers in the U.S. industrial salt market.
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Competitive Dashboard : (U.S. Salt Market)
In November 2021, Compass Minerals International, Inc. acquired an approximate stake of 45% in Fortress, a fire retardant company. Through this partnership, the company invested US$ 45 million in FORTRESS. It will expand the FORTRESS magnesium chloride-based retardant portfolio, which offers unique properties in abating fire risks and fighting wildfires. Moreover, it will help to counterbalance the seasonality of its core deicing salt business.
American Elements uses ultra-high purity refining (99.999%) and nanoscale materials for various industrial fields, including energy, electronics, automotive, green technology, and pharmaceuticals.
Prominent manufacturers of salt are focusing on research and development activities and are partnering with various other players to increase their footprint and revenue. Collaborating with different players benefits a company to integrate the latest technology and enhances its brand presence. Moreover, companies are also emphasizing quality management systems to increase customer satisfaction and thereby positively impact their customer base.
In October 2020, Cargill, Incorporated introduced its kosher certified salt named “Diamond Crystal. Diamond Crystal salt is crafted the way chefs want. The company delivers salt to enhance the authenticity of cuisines.
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U.S. Salt Market Industry Research by Category
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- US. Salt Market By Product Type: Solar Evaporated Salt, Rock Salt, Brine, Vacuum Evaporated Salt
- US. Salt Market By End Use: Chemical Manufacturing, Road Deicing, Food Processing, Livestock, Other
- US. Salt Market By Purity Type: 95% – 99%, More than 99%
- US. Salt Market By Region (U.S.): Northeast, West, South, Midwest, South East
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