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Report
South Korea Sodium Chloride Market Report and Forecast 2024-2032
Market Report I 2023-11-17 I 158 Pages I EMR Inc.
South Korea Sodium Chloride Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the South Korea sodium chloride market is expected to grow at a CAGR of 2.4% between 2024 and 2032. Aided by the support of the growing demand for sodium chloride in various applications and industries, the market is expected to grow significantly by 2032.
Sodium chloride, also known as salt, is a crucial ingredient in several industries, including food and beverages, pharmaceuticals, and chemicals. It is highly sought after for its versatile properties, which include enhancing flavour in foods, acting as a preservative, and providing essential electrolytes for human health. It also plays a significant role in industrial applications such as the manufacturing of chlor-alkali products, water treatment, and de-icing.
The increasing consumer preference for flavourful food products is driving the South Korea sodium chloride market growth. As an essential seasoning, sodium chloride is increasingly used in households, restaurants, and food processing companies, which contributes to its rising demand. With the growing awareness of the importance of electrolyte balance in the human body, sodium chloride is now more recognised for its health benefits, resulting in a surge in demand for sodium chloride-based products.
Additionally, the rising trend of convenient and ready-to-eat food products has further contributed to the increasing popularity of sodium chloride, as it is a popular ingredient in these food products due to its flavour-enhancing and preservative properties.
Sodium chloride's diverse applications in various industries also play a significant role in propelling the South Korea sodium chloride market development. In the pharmaceutical industry, sodium chloride is used as a vital component in intravenous fluids and saline drips. The chemical industry utilises sodium chloride for the production of chlor-alkali products such as chlorine and soda ash. Sodium chloride's properties also make it an essential component in the water treatment process, and it is widely used in de-icing during harsh winter conditions in various regions of the country.
Further, the growing demand for processed food in the food and beverage industry has led to an increased focus on sodium chloride as a crucial ingredient. The rise of urbanisation and the increasing popularity of convenience foods have led to sodium chloride becoming a critical component in the formulation of these products, thereby boosting the South Korea sodium chloride market demand.
Market Segmentation
The market can be divided based on grade and application.
Market Breakup by Grade
- Rock Salt
- Solar Salt
- Vacuum Salt
Market Breakup by Application
- Chemical Production
- De-icing
- Water Conditioning
- Agriculture
- Food Processing
- Pharmaceutical
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea sodium chloride market. Some of the major players explored in the report by Expert Market Research are as follows:
- TAEPYUNG Salt Co., Ltd.
- Wacker Chemie AG
- Cargill Incorporated
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Sodium Chloride Market Overview
8.1 Key Industry Highlights
8.2 South Korea Sodium Chloride Historical Market (2018-2023)
8.3 South Korea Sodium Chloride Market Forecast (2024-2032)
9 South Korea Sodium Chloride Market by Grade
9.1 Rock Salt
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Solar Salt
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
9.3 Vacuum Salt
9.3.1 Market Share
9.3.2 Historical Trend (2018-2023)
9.3.3 Forecast Trend (2024-2032)
10 South Korea Sodium Chloride Market by Application
10.1 Chemical Production
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 De-icing
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 Water Conditioning
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Agriculture
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Food Processing
10.5.1 Market Share
10.5.2 Historical Trend (2018-2023)
10.5.3 Forecast Trend (2024-2032)
10.6 Pharmaceutical
10.6.1 Market Share
10.6.2 Historical Trend (2018-2023)
10.6.3 Forecast Trend (2024-2032)
10.7 Others
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Trade Data Analysis
13.1 Major Importing Countries
13.1.1 By Volume
13.1.2 By Value
13.2 Major Exporting Countries
13.2.1 By Volume
13.2.2 By Value
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 TAEPYUNG Salt Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Wacker Chemie AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Cargill Incorporated
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Sodium Chloride Market: Key Industry Highlights, 2018 and 2032
2. South Korea Sodium Chloride Historical Market: Breakup by Grade (USD Million), 2018-2023
3. South Korea Sodium Chloride Market Forecast: Breakup by Grade (USD Million), 2024-2032
4. South Korea Sodium Chloride Historical Market: Breakup by Application (USD Million), 2018-2023
5. South Korea Sodium Chloride Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Major Importing Countries by Volume
7. Major Exporting Countries by Volume
8. Major Importing Countries by Value
9. Major Exporting Countries by Value
10. South Korea Sodium Chloride Market Structure
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