Global Sodium Tripolyphosphate Market Analysis and Assessment Forecast to 2023Posted by Nikhil khadilkar on March 27th, 2019 Commenting on this report, an analyst from Market Research Future (MRFR)’s team said, global Sodium Tripolyphosphate Market was valued at USD 2,250.7 million in 2016 and is predicted to grow at low CAGR of 1.48% to reach USD 2,497.7 million by the end of 2023. Healthy growth in key end use industries such as household cleaning industry, food & beverages, industrial cleaning is the dominant driving factor identified in this market. 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. Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/2319 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. Furthermore, restraining factors have greater impact in this market over drivers which has led to slow growth of this market. Some of the factors which negatively impact the market growth are stringent government regulations on the excess use of STPP in detergents, strong competition given by zeolite, and availability of reasonable substitute in various applications. Segment Analysis The Sodium Tripolyphosphate Market is fragmented based on application, end use, and region. Based on 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. Intended Audience
Regional Analysis The Global Sodium Tripolyphosphate Market is spanned across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. According to the MRFR analysis, Asia Pacific was the most promising region in terms of production as well as consumption as of 2016. The region has accounted for the largest market share of 42% followed by North America at 24%. China is single handedly driving Asia Pacific STPP market by being the largest exporter across the globe. 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. Access Complete Report @ https://www.marketresearchfuture.com/reports/sodium-tripolyphosphate-market-2319 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. Like it? Share it! More by this author |