Press Release
Press Release
According to a new report by EMR titled, ‘South Korea Sodium Chloride Market Report and Forecast 2024-2032’, the market is estimated to grow at a CAGR of 2.4% between 2024 and 2032. The market is being aided by the rising demand for sodium chloride across various applications and industries.
Sodium chloride, commonly known as table salt, is a vital element across numerous industries. Sought due to its multifaceted properties, sodium chloride not only enhances flavour and acts as a preservative in food and beverages, but it also provides essential electrolytes for human health. Furthermore, its industrial applications are equally significant, playing a role in the manufacturing of chlor-alkali products, water treatment, and de-icing processes.
The growing demand for convenient, ready-to-eat meals has fuelled the South Korea sodium chloride market expansion. This is due to salt's dual functionality: it enhances the palatability of these products while also acting as a preservative, extending their shelf life.
The market growth is also being fuelled by a rising consumer preference for flavourful food products. This trend translates to increased use of sodium chloride, a key seasoning, across various sectors. Households, restaurants, and food processing companies are all contributing to the rising demand for sodium chloride as a way to enhance the taste of their offerings.
As public understanding of electrolyte balance's crucial role in human health increases, sodium chloride is gaining greater recognition for its positive health contributions. This has led to a significant rise in demand for products containing sodium chloride.
Wacker Chemie AG (OTCMKTS: WKCMF), produces around 500,000 metric tons of sodium chloride annually. This raw material is then processed into a variety of end products, including chemical salt, road salt, and commercial and industrial salts, as well as sodium chloride brines. Wacker Chemie AG prioritises environmental responsibility throughout the process, employing a team of experienced mining specialists equipped with advanced technologies to ensure the sustainable extraction, processing, and storage of sodium chloride.
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The major players in the South Korea sodium chloride market are TAEPYUNG Salt Co., Ltd., Wacker Chemie AG, and Cargill Incorporated, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Grade |
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Breakup by Application |
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Market Dynamics |
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Trade Data Analysis |
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Competitive Landscape |
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Companies Covered |
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