Valued to be $2.4 Billion by 2026, Sodium Tripolyphosphate Slated for Robust Growth Worldwide

SAN FRANCISCO, Feb. 22, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Sodium Tripolyphosphate - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 20; Released: February 2022
Executive Pool: 363
Companies: 94 - Players covered include ABCR GmbH & Co., KG.; Aditya Birla Chemicals (India) Limited; Guizhou Zhongshen Phosphates Industry Co., Ltd.; Hubei Xingfa Chemicals Group Co., Ltd.; Innophos Holdings, Inc.; MilliporeSigma; Parchem Fine & Specialty Chemicals and Others.
Coverage: All major geographies and key segments
Segments: Application (Synthetic Detergent; Food Additive; Water Treatment; Ceramic, Paint & Dyeing; Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Sodium Tripolyphosphate Market to Reach US$2.4 Billion by the Year 2026
Sodium Tripolyphosphate is one of the major ingredients used in a wide array of products for institutional and industrial cleaning purposes. For several years, sodium tripolyphosphate has been used as a major ingredient in detergents, and played a vital role in enhancing the performance of detergents. Presently, over 50% of washing powders available in the market contain phosphorus, with developing countries generating a substantial proportion of the overall demand. The absence of stringent environmental and legislative control mechanisms ensures growth for phosphates and STPP products in developing nations. In addition, low prices and superior performance characteristics are contributing to the sustained demand for phosphate-based assistants in these countries. The market for STPP is expected to benefit from the fact that phosphorus-free assistants are not a complete substitute for phosphorus-based assistants. The STPPs are most widely used in the food & beverage industry for the purpose of preservation which is propelling the STPP demand.

However, STPP is harmful to the environment because of the presence of huge amounts of phosphate, therefore the governments are implementing strict regulations in the usage of detergents based on phosphate. Thus, the global STPP market observed a slow rate of growth in the past few years, particularly after the European Union banned STPP usage because of the STPP's hazardous nature towards the environment. Moreover, the strong competition provided by Zeolite, a substitute for STPP too is hindering the market growth of STPP. However, the global STPP market is estimated to grow due to the extensive usage of STPP in personal and home care. Furthermore, STPP is utilized as the pH adjuster among hygiene products, which is anticipated to offer growth opportunities.

Amid the COVID-19 crisis, the global market for Sodium Tripolyphosphate estimated at US$2.2 Billion in the year 2022, is projected to reach a revised size of US$2.4 Billion by 2026, growing at a CAGR of 2.8% over the analysis period. Synthetic Detergent, one of the segments analyzed in the report, is projected to grow at a 3.4% CAGR to reach US$672.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Food Additive segment is readjusted to a revised 3.8% CAGR for the next 7-year period. This segment currently accounts for a 25.4% share of the global Sodium Tripolyphosphate market. The synthetic detergent segment is estimated to lead the STPP market continuously in years to come, as STPP is being extensively utilized in manufacturing institutional and industrial cleaning products and detergents. Industrial detergents' technological advancement and growing usage of STPP as dispersing and cleaning agents in various applications are boosting the STPP demand in years to come. The food additive industry is a major application area for sodium tripolyphosphate. Burgeoning population, increasing disposable incomes, fast paced urbanization and rising health consciousness among consumers are enhancing demand for nutritious and protein-rich food and beverage products. Sodium tripolyphosphate are used as food additives to preserve the natural color, improve the texture and appearance, as well as ensure moisture retention of the product.

The U.S. Market is Estimated at $454.1 Million in 2022, While China is Forecast to Reach $650.3 Million by 2026
The Sodium Tripolyphosphate market in the U.S. is estimated at US$454.1 Million in the year 2022. The country currently accounts for a 21.1% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$650.3 Million in the year 2026 trailing a CAGR of 3.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.6% and 1.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach US$109.5 Million by the end of the analysis period. The Asia-Pacific region (including China) generates major revenue in the STPP market due to increased export and production activities. China has been the major exporter of STPP of the European markets, however, restrictions on the usage of STPP in the European region caused an overcapacity with reduced consumption in China. The growing end-user sectors of STPP like agrochemicals and pharmaceuticals and increased investments in developing economies by the manufacturers of agrochemical are estimated to propel the STPP market growth considerably in the Asia-Pacific region. The North American (including USA and Canada) region's STPP market holds a significant share of the global STPP market due to food preservations' increased demand. However, the ban placed on STPP usage because of the extensive utilization of phosphate among detergents to reduce the impact of STPP on the environment, hinders the market growth of STPP. STPP market has been witnessing slow growth in Europe for the past few years, due to the European unions' strict regulations on the usage of phosphate.

Water Treatment Segment to Reach $437.5 Million by 2026
The market for STPP in water treatment is humungous, and the initiatives taken by organizations worldwide are stimulating the STPP market growth further. The water treatment demand increased because of industrialization and water is being treated in several industries for various purposes. STPP is utilized like the water softener for decreasing the water hardness and the water softener's demand is increasing in leather, laundry, and textile industries leading to the STPP market growth. In the global Water Treatment segment, USA, Canada, Japan, China and Europe will drive the 2.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$313.3 Million will reach a projected size of US$372.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$45.9 Million by the year 2026. More

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