Sodium Tripolyphosphate (STPP) Market size is forecast to reach $2.6 billion by 2026, after growing at a CAGR of 1.5% during 2021-2026. Sodium Tripolyphosphate (STPP) is an inorganic compound present in crystalline white powder or granular form. The sodium tripolyphosphate (STPP) is majorly used as a component to produce synthetic detergents, paints, food preservatives and are used for water treatment. Furthermore, the sodium tripolyphosphate is also in demand for wide usage in the household and industrial cleaning.
The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. Currently the Sodium Tripolyphosphate Market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. According to World Trade Organization (WTO), global trade volumes are projected to decline between 13-32% in 2020. The pandemic is impacting various operations in food & beverages, industrial cleaners, and others. This in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020 and a few months in 2021. As sodium tripolyphosphate (STPP) is majorly used in these sectors and hence due to decline in operation it has led to decline in growth of the market.
Sodium Tripolyphosphate (STPP) Market Segment Analysis – By Type
The Powder type held the largest share in the Sodium Tripolyphosphate (STPP) Market in 2020. The Powder is a white crystalline form and is also freely soluble in water, gram/100ml at 25 degrees Celsius. The sodium tripolyphosphate with a very high rate of hydration is preferred to be used in modern equipment because of a shorter period of reaction with water, which is required in the powerful high-speed mixtures. In case of a medium or low rate of hydration, it is used to avoid the formation of lumps in the detergent slurry. This increase in demand for household and industrial cleaning in the developing region is coupled with the growing population and new industries that are driving the growth of sodium tripolyphosphate (STPP).
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=17702
Report Price: $ 4500 (Single User License)
Sodium Tripolyphosphate (STPP) Market Segment Analysis – By Grade
The Food Grade held the largest share in the Sodium Tripolyphosphate (STPP) Market in the year 2020. Food Grades are used to protect the food from the ailments such as corrosion, rust, and friction. The food-grade is important for the eradication of contamination of the food. These grades help to serve better the packaging and food transportation industries. For example, a guideline from Food and Drug Administration (FDA) says that in the case of oranges sodium triphosphate must not be more than 0.05%, if specifications are not followed then under Citrus Red No. 2, it can lead to the elimination of the units. These grades help in maintaining the quality and standard of the food provided. This increase in the level of standard for food has led to the growth of the food packaging industry and hence the sodium tripolyphosphate (STPP) market.
Sodium Tripolyphosphate (STPP) Market Segment Analysis – By Application
Synthetic Detergent held the largest share in the sodium tripolyphosphate (STPP) market in 2020. The market is witnessing a significant growth during the forecast period across the household and industrial cleaning segment due to increase in usage of synthetic detergents. Whereas in a survey which was conducted by Center for Disease Control and Prevention (CDC) in May 2020, showed that there is a 60% rise in the usage of synthetic detergents because of the COVID-19 outbreak. The necessity of cleaning has increased due to the spread of diseases and this has led to the growth in the sodium tripolyphosphate (STPP) market.
Sodium Tripolyphosphate (STPP) Market Segment Analysis – By End Use Industry
Food and Beverage held the largest share in the Sodium Tripolyphosphate (STPP) Market in 2020 with CAGR of XX%. The growing consumer base is leading to the growth in the demand for food packaging and food processing unit. According to Indian Brand Equity Foundation (IBEF), the food processing industry accounts for 32% of the country’s total food market. Also, the rise in growth for brand purchasing is becoming a trend in the urban areas with the growing population. The concept of super-market and hyper market are rising firmly and is leading towards the growth of packaged food market. This increase in the growth of food and beverage industry is leading to the growth of sodium tripolyphosphate (STPP) market.
Sodium Tripolyphosphate (STPP) Market Segment Analysis – By Geography
Asia-Pacific (APAC) dominated the Sodium Tripolyphosphate (STPP) Market in the year 2020 with a market share of XX%, followed by North America and Europe. The large consumer segment, growing disposable income, and the growth in the food & beverage industry propels the growing market in the region. In addition to this change in the lifestyle and spread of diseases has driven the demand of household and industrial cleaning products in the developing region. North America has also led to the demand because of growing manufacturing industries in the region. Whereas the growing awareness from World Health Organization (WHO) campaigns are leading towards the growth of the market.
Sodium Tripolyphosphate (STPP) Market Drivers
Rise in demand for water treatment
Industrialization has led to the increase in demand for water treatment in various industries for different purposes. Sodium tripolyphosphate is used for as a water softener to reduce the hardness of water. The demand of water softener is mainly rising in the industries like textile, leather, and laundry. This had let to the growth in the sodium tripolyphosphate market. According to United Nations World Water Assessment Programme (UN WWAP), 2017, 80% of the sewage water is discharged without treatment. The market is huge, and initiatives taken by the organizations are leading towards the growth in the market.
Superior properties of sodium tripolyphosphate
Sodium tripolyphosphate has a high and a low rate of hydration, which makes it superior to be used with modern equipment’s. It is also used as a pH adjuster or for buffering in many applications for matching the pH value between 9.4-10. The increase in consumption of sodium triphosphate is also due to its use as a dispersing agent in ceramic processing. The different applications include paper, toothpaste, paint, rubber, textile, and others. In paper and pulp industry it is used as oil-resistant agent. All these has led to the growth of sodium tripolyphosphate market.
Download Sample Report @ https://www.industryarc.com/pdfdownload.php?id=17702
Sodium Tripolyphosphate (STPP) Market Challenges
Threat of Substitutes
Innovation is the key to developing new products and has led to the development of substitutes in the market. Based on the analysis by European Union Zeolites are suitable alternative to sodium tripolyphosphate for building detergents. Zeolites are the minerals that contain silicon and aluminum compound and are used for drying agent, water, and air purifiers and in detergents. This growth is hampering the growth of sodium tripolyphosphate market.
Stringent rules and regulations for use of synthetic detergents
Many countries have very strict rules and regulations regarding the use of synthetic detergents. European Union has banned and reduced the use sodium tripolyphosphate in different region because it is hazardous to the environment. In state of California, it is suspected as neurotoxin and registered pesticide which is known for air contamination. These rules and regulations are hampering the growth of sodium tripolyphosphate (STPP) market.
Sodium Tripolyphosphate (STPP) Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Sodium Tripolyphosphate (STPP) Market. Major players in the Sodium Tripolyphosphate (STPP) Market are Grasim Industries Ltd., Hubei Xingfa Chemicals Group Co. Ltd., Sigma-Aldrich, Haifa Group, Innophos Holdings Inc., Israel Chemicals Ltd., Merck KGaA, Tata Chemicals, Aditya Birla Chemicals and Others.
Acquisitions/Technology Launches/ Product Launches
In January 2020, Innophos Stockholder, a leading producer of essential ingredients approved its acquisition by One Rock Capital Partners, LLC, a middle market private equity firm. This definite agreement was signed in October 2019. One Rock acquired Innophos outstanding shares for $32.00 per share which is approximately valued as $932 million including debts.
Asia Pacific dominates the Sodium Tripolyphosphate (STPP) Market owing to rapid increase in usage in the household and industrial cleaning segment.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Sodium Tripolyphosphate Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Sodium Tripolyphosphate Market related industries has been negatively affected, thus hampering the growth of the market.
Related Reports :
A. Crystalline Polyethylene Terephthalate Market
B. Sodium Carbonate Market
For more Chemicals and Materials Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.