Market Research Future Published a Cooked Research Report on Sodium Tripolyphosphate Market Research Report- Forecast to 2023
Market Overview:
Sodium Tripolyphosphate Market can find a moderate growth with 1.48% CAGR in the years between 2017 and 2023, which Market Research Future (MRFR) has named as the forecast period. Valuation of the market can touch USD 2,497.7 million by 2023. Sodium Tripolyphosphate can be defined as a crystalline powder that finds significant application as a cleaning material. It can be labeled as a salt of triphosphoric acid generally that finds traction from industries involved in water softening and food preservation. It can be sourced both in unhydrous and hexahydrate forms. Commercially, Sodium Trypolyphosphate has a wide-scale percolation in textile industry for dyeing and in food & beverage industry as a major component for food preservation.
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Market Scenario:
The growth has been sluggish for the Sodium Tripolyphosphate Market as several restraining factors like bans from the governments, plummeting application in the detergent industry, and others. The substance has been banned in the European Union for several industries. The same is true with the North American market where countries like the US and Canada are becoming obstacle for the market.
Competitive Landscape:
Major players providing ample traction to the global Sodium Tripolyphosphate Market are:
- Tata Chemicals Ltd.,
- Innophos Holding Inc.,
- Aditya Birla Chemicals,
- ICL Performance Ltd.,
- Merck group,
- Sumitomo Chemicals Co. Ltd,
- Haifa Group,
- Prayon S.A.,
- Hubei Xingfa Chemicals Group,
- TongVo Chemicals Limited.
MRFR made a detailed analysis of their latest proceedings and made it an integral part of the report to assist in the marking of recent trends that can be used to form strategies.
In an article published in the New York Times in October 2019, Sodium Tripolyphosphate has been declared safe for shrimp preservation if used in small quantity. This can provide some leverage to the market for Sodium Tripolyphosphate.
Segmentation:
The market for Sodium Tripolyphosphate has been segmented in the report on the basis of application and end use. MRFR’s attempt to get close to the market has revealed insights that can be used to understand significant growth patterns and trigger business proliferation in the coming years.
By application, the market for Sodium Tripolyphosphate can be segmented into detergent, water treatment, cleaning agents, paints & dying, food preservative, metal treatment, ceramic tiles, and others. In 2016, the detergent segment had the maximum market share that was close to 26% and its dominance is expected to continue in the coming years as well. The market has the potential to grow with As of 2016, detergent as the most promising application segment by accounting 26% shares and it is anticipated to continue to project a growth rate of 1.40% during the forecast period.
By end user, the market can be segmented into food & beverages, household cleaning, textile, agriculture, cosmetics, pharmaceuticals, and others. The household cleaning segment is providing maximum traction to the market by covering almost 27% of the market.
Browse key industry insights spread across 181 pages with 42market data tables & 11 figures & charts from the report, “Sodium Tripolyphosphate Market: by Application (Detergent, Cleaning Agent, Water Treatment, Food Preservation, Paints & Dying, Ceramic Tiles, Metal Treatment, and Others), by End Use (Household Cleaning, Food & Beverages, Agriculture, Textile, Pharmaceuticals, Cosmetics and Others ) and Region – Forecast till 2023 ” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/sodium-tripolyphosphate-market-2319
Regional Analysis:
The region-specific understanding of the global market for Sodium Tripolyphosphate Market includes North America, Europe, and Asia Pacific as major contributors and Latin America, and the Middle East & Africa as regions with potentials. In 2016, Asia Pacific region had a market share of 46% where China was considered as the major market contributor. The region is scoring well both in terms of production and export capacity. In 2016, China had a market valuation of around USD 518.8 million and the market is expected to soar with a 1.69% CAGR during the forecast period. China is a major exporter of Sodium Tripolyphosphate, however, recent bans in the region would bog down the growth to some extent.
North America had the second largest market in 2016 and it has a market coverage of around 25%. Due to its wide-scale use in detergent, the region has made some stringent regulations owing to which the growth would be curtailed. The same is true for the European region where the growth would find restricted traction in the coming years.
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