Sodium Tripolyphosphate Market Growth Drivers, Impact Analysis & Market Opportun

Posted by Priya on October 2nd, 2018

Sodium Tripolyphosphate Overview to 2023

Sodium Tripolyphosphate is a crystalline powder primarily used for the purpose of cleaning. It is a salt of triphosphoric acid generally used in water softening and food preservation. It exists both in unhydrous as well in the hexahydrate forms. Commercially, Sodium Trypolyphosphate is used in textile industry for dyeing and as emulsifier in food and beverages preservation. Sodium tripolyphosphate is environmentally harmful as it contains higher proportions of phosphate.

Sodium Tripolyphosphate Market was valued at USD 2,250.7 million in 2016 and is projected to reach USD 2,497.7 million by 2023 growing at insignificant CAGR of 1.48% over the review period of 2018 to 2023

Get your sample copy now @ https://www.marketresearchfuture.com/sample_request/2319 

Global Top 10 Key Players:

Some of the key players operating in the Global Sodium Tripolyphosphate MARKET are Innophos Holding Inc., Tata Chemicals Ltd., ICL Performance Ltd., Aditya Birla Chemicals, Sumitomo Chemicals Co. Ltd, Merck group, Hubei Xingfa Chemicals Group, Prayon S.A., Haifa Group, and TongVo Chemicals Limited.

According to the MRFR analysis, the Global Sodium Tripolyphosphate Market has shown sluggish growth over one and half decade. Restraining factors have greater impact over driving factors in this market which has led Sodium Tripolyphosphate Market to grow at a stagnant CAGR. Healthy growth in end use industries is the only growth driver identified in this market, wherein, household cleaning industry was the major contributor. Additionally, food & beverage industry extensively uses Sodium Tripolyphosphate for preservation purpose, which in turn, encouraged its demand. Although, global market growth is hampered by stringent government regulations on phosphate based detergents. Specifically, European Union has banned Sodium Tripolyphosphate across the region due to its environmentally hazardous nature. Additionally, strong competition given by Zeolite which is emerged as substitute and has also restricted growth of this market. The Global Sodium Tripolyphosphate Market anticipated to have growth opportunities on account of its use in home and personal care. It is used as pH adjuster in hygiene products is expected to provide growth prospects. 

Regional Analysis:

Based on the regions, the Global Sodium Tripolyphosphate Market is spanned across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2016, Asia Pacific region emerged as global leader in this market and has accounted for 42% of global share. China is one of the key regional markets, driving Asia Pacific Sodium Tripolyphosphate Market globally, due to growing production as well as export activities. As of 2016, it was a major revenue generating country across the globe and had generated USD 518.8 million with a steady CAGR of 1.69%. China was a major exporter to European markets, although, ban on Sodium Tripolyphosphate in Europe region has resulted in overcapacity in China by shrinking consumption.

North America was the second largest regional market which has accounted for over one fourth of the global market share. The region has banned Sodium Tripolyposphate due to over proportion use of phosphate in detergents in order to eliminate environmental impact. Growth in this region is attributed to contribution of the U.S. in this region along with increasing demand for food preservation. The European region experienced drastic changes in terms of Sodium Tripolyphosphate consumption and production due to stringent government regulation, growing awareness towards eco-friendly products coupled with governments green approach. This has led Europe to grow at sluggish CAGR of 1.13%over the last decade.

Segmentation:

The Sodium Tripolyphosphate Market is fragmented on the basis of application, end use, and region. On the basis of application, the market is divided into detergent, cleaning agents, water treatment, food preservative, paints & dying, ceramic tiles, metal treatment, and others. As of 2016, detergent was the most promising application segment by accounting 26% shares and it is anticipated to continue its dominance over the review period by growing at CAGR of 1.40%. Market segmentation based on end use industries includes household cleaning, food & beverages, agriculture, textile, pharmaceuticals, cosmetics, and others. Household cleaning application dominated global market and has accounted for 27% market shares due to increasing household applications.