Market Highlights: –
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.
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.
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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.
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
- TongVo Chemicals Limited.
Segment Analysis: –
The Global Sodium Tripolyphosphate Market is segmented into application, end use, and region. Market segmentation based on application includes detergents, water treatment agents, food preservation, metal treatment, ceramic tiles, paints & dyeing, and others. Sodium Tripolyphosphte is used for cleaning purpose, therefore, its primary application is detergents which has dominated the global market. As of 2016, detergent application segment accounted for 26% of global shares growing at CAGR of 1.40%. Food preservation application was the dynamic segment and had registered at the highest CAGR of 1.72% due to food & beverages industrial growth.
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Intended Audience: –
- Sodium Tripolyphosphate Manufacturers
- Traders and distributors of Sodium Tripolyphosphate
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
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.
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List Of Figures: –
FIGURE 1 Global Sodium Tripolyphosphate Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Sodium Tripolyphosphate Market
FIGURE 4 Value Chain Of Global Sodium Tripolyphosphate Market
FIGURE 5 Share Of Global Sodium Tripolyphosphate Market In 2016, By Country (In %)
About Market Research Future: –
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