In 2016, Tripolyphosphate Market was valued at USD 2,250.7 million. The global sodium tripolyphosphate market is projected to reach USD 590 million by 2023, growing with a CAGR of 5.5% from 2017 to 2023. Sodium tripolyphosphate is the alkaline salt form of sodium phosphoric acid. It is an inorganic odourless white coarse powder, which dissolves in water. Sodium tripolyphosphate is used as an additive to make the seafood products, firm, glossier, and smoother. Moreover, STPP is used for processing of meats, modified starch, as well as sausage. It increases the pH value of meat and seafood, and hence the water retention capacity of those increases. STPP find application in the preservation of milk as well as fruit juice products. STPP is a good cleaning agent and it softens the hard water for easy foaming. Moreover, it helps the surfactants that dissolve the dirt to function effectively. Hence, STPP find applications in detergents industry for the manufacturing of detergents, dish washing products, soaps, and various other household and industrial cleaning products. STPP also find applications in industries such as cement, ceramics, paints, paper, and leather.
The demand from the food and beverages industries is expected to drive the growth of the global sodium tripolyphosphate market. The increase in demand for cleaning products in the emerging economies is further expected to drive the growth of the sodium tripolyphosphate market. Fluctuating Prices of STPP is a challenge for the major players in the market due to changing consumption patterns around the world. Stringent government regulations for food and beverages industry in several countries are expected to force many industries to look for the alternatives of sodium tripolyphosphate (STPP). This in turn is likely to be the major restraining factor affecting the growth of STPP over the forecast period. Polysaccharides are expected to pose serious threat to sodium tripolyphosphate, as an alternative in near future, as they are cheaper and eco-friendly.
Figure: Sodium Tripolyphosphate (STPP) Market by value 2017- 2023
The report segments the global sodium tripolyphosphate market by application and region. On the basis of application, the market is segmented as ceramic tiles, detergent, food additives, metal treatment, paints, water treatment and others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific region leads the global STPP market, as China is the largest producer of sodium tripolyphosphate, with a market share of more than 40% in 2015 and 2016. Major STTP industrial units are present in china to tap the abundant resources. The decrease in export of STPP from China is expected to affect the Asia-Pacific market slightly, as China is a major exporter of STTP. However, the demand for detergent products and institutional cleaning products in the region are expected to drive the market in the near future. In Europe, the stringent laws are likely to affect the growth of STPP consumption in detergent industry, as detergent manufactures are expected to look for eco-friendly alternatives. In North America, government regulations affect the growth of the STTP market in the region. In South America, the relaxed regulations and the demand for cleaning products in Brazil and other countries are expected to drive the STPP market over the forecast period. The major industrial players in the STTP market have invested in many emerging nations to expand their business, as there are more opportunities to grow, when compared to the matured economies, where stringent regulations restricts potential.
The companies covered in the report include Alfa Aesar, FMC Foret SA, Hubei Xingfa Chemical Group Co.Ltd, ICL Performance Products LP, Innophos Inc, Sichuan Jianguang Industrial Group Co.Ltd, The Mosaic Company, Tianyuan Group, Quimir SA de CV, and Wengfu Group Co.Ltd.
The report provides deep insights on demand forecasts, market trends, micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of sodium tripolyphosphate globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of sodium tripolyphosphate. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the sodium tripolyphosphate market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the sodium tripolyphosphate market to understand the present and future trends in this market and formulate their strategies accordingly.
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