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Sodium tripolyphosphate market is anticipated to witness substantial proliferation from 2021 to 2027 driven by increasing penetration in industrial cleaning processes and the rising need for cement-based materials. The surging intake of paper and pigment dispersants in paints has led to the higher adoption of oil-resistant agents. Moreover, the growing requirement for higher buffering properties and dispersion of dirt particles in several industrial verticals will drive the market growth.
Sodium tripolyphosphate (STPP) is an inorganic compound that has widespread usage in a large number of industrial applications, including leather, detergents, ceramics, animal feed, toothpaste, and flame retardant, among various others. Increasing adoption in water treatment will further add positive impetus to the sodium tripolyphosphate market outlook.
With regards to formulation, the market is identified across liquid, powder, tablets, and gels. Among these, the demand for dry powder STPP is likely to reach momentum with increasing usage in household and industrial cleaning. The mount in advancements in different machinery techniques has made way for numerous innovations, like pellets large crystals. The rising obligation for powerful high-speed mixtures will further complement the sodium tripolyphosphate market share.
Application wise, the demand for sodium tripolyphosphate in household cleaning is poised to show robust growth with the emergence of latest laundry technologies.
On the basis of end-use, food additives will record a significant remuneration for the sodium tripolyphosphate industry on account of the increase in the number of super- and hypermarkets. The rising need for food preservation and increasing intake of packaged products has led to advancements in food packaging and processing. The influx of regulatory compliance standards to permit use in food and drug additives is another ideal factor influencing the sodium tripolyphosphate market revenue. For instance, in March 2020, the Department for Chemicals and Petrochemicals in India mandated the national standard for STPP.
APAC sodium tripolyphosphate market is expected to gain notable proceeds between the period 2021 and 2027 due to the rising prevalence of diseases and the higher number of poultry farms in the region. The surge in consumer household incomes has paved the path for heavy manufacturer investments. The growing number of production plants in China will additionally contribute to regional growth.
Global participants in the sodium tripolyphosphate industry are actively turning to inorganic marketing and growth moves, such as mergers, acquisitions, and capacity expansions to reinforce their market position. These firms are also taking up various strategic initiatives for their brand recognition.
For instance, in October 2019, One Rock Capital Partners acquired the publicly traded Innophos Holdings Inc. in a transaction that accounted for approximately $932 million. This initiative helped to maximize the latter company’s growth potential by expanding its presence across the high-growth food, nutrition, and health markets.
In another instance, in June 2021, PhosAgro, a globally leading phosphate-based fertilizer supplier, inked a strategic partnership deal with Ian Nepomniachtchi, Russian Chess Grandmaster, to offer its support to the world champion whilst increasing its brand awareness.
Aditya Birla Chemicals, Hubei Xingfa Chemicals Group Co. Ltd., Tianyuan Group, CheMall Corporation, Sigma-Aldrich (Merck Group), Guizhou Zhongshen Phosphates Chemical, ABCR GmbH, Yuntianhua Group, ParChem, and SDIC are some of the leading STPP providers in the business.
The ongoing COVID-19 pandemic took an alarming toll on the global economy as it substantially laid impacts on an umpteen number of businesses across the world. The STPP market also encountered a flattening growth curve for industries, such as paints, leather, and ceramics on account of the stalled business operations. However, it showed favorable expansion in cleaning applications to meet the rising hygiene requirements amidst the pandemic.