ROCHELLE SALT MARKET REPORT OVERVIEW
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The global rochelle salt market size is expected to be USD 254.3 million in 2022 and is projected to touch USD 403.63 million by 2031, at a CAGR of 5.3% during the forecast period.
Rochelle salt is also known as sodium-potassium tartrate. It is tartaric acid’s potassium sodium salt and is found in white crystalline powder form. The Rochelle salt is soluble in water and slightly soluble in alcohol. This salt exhibits a piezoelectric effect and finds its application in various devices. Other applications and end-use industries include pharmaceuticals, metal treatment & electroplating, mirrors, food & beverages, cigarette paper, and its use as a laboratory reagent. It provides a list of food additives such as a preservative or food additives. It is used in Seidlitz powder form as a mild purgative. This salt is also a significant ingredient of a ferroelectric crystal and Fehling's Solution and is generally used as a Fenton’s reagent component.
Sodium-potassium tartrate and monopotassium phosphate were the first materials discovered to exhibit piezoelectricity. The material’s properties lead to the use of the material in microphones, earpieces, and crystal gramophone pick-ups, which will likely aid the market growth. It is also used in aqueous workups for breaking up emulsions in organic synthesis. It is used medicinally as a purgative which boosts bowel movements. Additionally, it is used in the process of silvering mirrors, which is projected to aid the market growth of the Rochelle market.
COVID-19 Impact: Supply Chain Disruption and Availability of Alternative Product to Impede Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with Rochelle salt experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to the rochelle salt market growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 outbreak affected every industry, and the chemicals and advanced material industry was no exception. The manufacturing and supply of the material were affected due to the lockdown for an extended period. Many industries adopted remote work culture, but manufacturing industries could not work remotely; thus, the market witnessed a downfall in market growth. The demand for the product could not be fulfilled due to lack of product availability and disruption in transportation. The pandemic created uncertainty in the market resulting in a slowdown of the supply chain and increasing concern among the general population.
LATEST TRENDS
"Various Applications of Salt to Propel Market Growth"
Usage of sodium potassium tartrate in the food and beverage industry is expected to surge the market growth. It is used in producing pectin, a fruit fiber used as a preservative in jellies and jams. This material is widely used in the food and beverages industry and is likely to grow exponentially due to the rising demand for food. The consistently rising demand for bakery and confectionery products is forecasted to propel growth in the global market. Additionally, increasing health consciousness among Millennials is anticipated to surge Rochelle salt market growth. Moreover, the ability of Rochelle salt to demonstrate a piezoelectric effect is expected to surge the market growth.
ROCHELLE SALT MARKET SEGMENTATION
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- By Type Analysis
By type, the market is segmented into food grade and industrial grade.
- By Application Analysis
Based on application, the market is classified into F&B, electroplating, and pharmaceuticals.
DRIVING FACTORS
"Escalating Investment in Food & Beverages to Drive Growth"
The growing food and beverage investments are expected to drive market growth. Additionally, piezoelectric ceramics are forecasted to gain traction in the global market due to various shapes and sizes, including bars, plates, cylinders, and multiple-sized sheets, which is anticipated to boost the demand for piezoelectric ceramics. Using this salt in the electroplating process, manufacturing cigarette paper, and others is forecasted to drive market growth. The wide applications of Rochelle salt in the food and beverages industry are forecasted to aid market growth.
"Increasing Demand for Piezoelectric Materials to Surge the Market Growth"
The constantly rising demand for piezoelectric material, which can produce electric energy upon mechanical stress applications, is expected to surge growth in the market. Using this salt as a precipitant in the crystallography of proteins and biuret reagent ingredients is also estimated to be an additional factor projected to propel industry growth. Moreover, factors such as increasing demand for piezoelectric devices in the defense and aerospace sector and escalated use of these devices in the automotive and construction industries are likely to drive market growth.
RESTRAINING FACTORS
"Low Profitability Owing to Various Unorganized Players to Impede Growth"
Various regions have major unorganized players supplying Rochelle salt in the other areas. Unorganized companies in the region are forecasted to create a challenge in the growth of the Rochelle salt market. New laws and regulations related to mining activities are also anticipated to restrict growth in the global market. These factors are likely to hinder the growth of the market. The utilization of sodium potassium tartrate in various industries is anticipated to limit the growth of the environment.
ROCHELLE SALT MARKET REGIONAL INSIGHTS
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"Europe to Dominate Owing to the Adoption of Material in Various Applications"
Europe is anticipated to hold a significant part in the Rochelle salt market share owing to the wide applications of salt in various industries such as metal treatment, electronics, food processing, and pharmaceuticals. Rochelle salt is used in the pharmaceutical industry for producing saline. Additionally, it is also used in the food industry for preserving meat.
Asia Pacific is forecasted to show significant growth in the market due to steady developments in emerging countries such as India, China, and Japan. This region has weather specifically for solar salt production. Additionally, it also supports an increase in performance which is estimated to drive regional growth.
North America shows sizeable growth owing to the significant rise in demand for advanced materials in the market. The enhancement of sustainable goods production is also anticipated to surge growth in the region.
KEY INDUSTRY PLAYERS
"Competitors to Adopt Long-Term Strategies to Gain a Competitive Edge"
The market is fragmented into various companies, including small-sized, medium-sized, and large-sized companies. Prominent players are adopting organic and inorganic strategies to grow consistently in the global market. The key competitors focus on gaining collaborations and acquisitions to grow in the global market. Additionally, competitors are striving to achieve local customers to gain customers in the global market further. Companies focus on delivering the product in less time to gain a competitive advantage. Moreover, the companies are focusing on launching advanced products to gain a competitive advantage.
List of Market Players Profiled
- BEANTOWN CHEMICAL (U.S.)
- Hach (U.S.)
- Merck (U.S.)
- Novarina (France)
- Pahí (Spain)
- Tártaros Gonzalo Castelló (Spain)
REPORT COVERAGE
The report emphasizes studying and analyzing the global market based on its segment, regions, and key competitors. The information constitutes significant factors responsible for the development of the market and surges in the Rochelle salt market growth. The report focuses on the key players and their headquarters. Regional analysis is also presented in the report to explain the contribution of various regions to the market's growth. It constitutes market trends and restraints to understand the market appropriately. This report is a comprehensive insight into the market.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 254.3 Million in 2022 |
Market Size Value By |
US$ 403.63 Million by 2031 |
Growth Rate |
CAGR of 5.3% from 2022 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type, Application & Region |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the rochelle salt market expected to touch by 2031?
Based on our research, the rochelle salt market is projected to touch USD 403.63 million by 2031.
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What CAGR is the rochelle salt market expected to exhibit by 2031?
The rochelle salt market is expected to exhibit a CAGR of 5.3% by 2031.
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What are the segments of the rochelle salt market?
By type, the rochelle salt market is segmented into food and industrial grades. Based on application, the market is classified into F&B, electroplating, and pharmaceuticals.
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Which are the driving factors of the rochelle salt market?
Escalating investment in food & beverages to drive growth and increasing demand for piezoelectric materials to surge the market growth are the factors driving the rochelle salt market.
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Which are the top companies operating in the rochelle salt market?
BEANTOWN CHEMICAL, Hach, Merck, Novarina, Pahí, and Tártaros Gonzalo Castelló are the top companies operating in the rochelle salt market.