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
Segments Covered:
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.
Companies Profiled:
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.
Report Highlights:
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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