You are here
Sodium Tripolyphosphate Market - Opportunity Analysis and Forecasts to 2023
Sodium Tripolyphosphate Market to 2023 Global Leading Key Players Innophos Holding Inc., Tata Chemicals Ltd., ICL Performance Ltd., Aditya Birla Chemicals, Sumitomo Chemicals and Others
Market Highlights on Global Sodium Tripolyphosphate by 2023
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. Healthy growth in key end use industries such as household cleaning industry, food & beverages, industrial cleaning is the dominant driving factor identified in this market.
Request complete sample Report now @ https://www.marketresearchfuture.com/sample_request/2319
Sodium Tripolyphosphate Market Research Report, Trends, Size & Forecast to 2023
Research on Sodium Tripolyphosphate by Market Research Future (MRFR) recognizes the following companies as the key players in the Global Sodium Tripolyphosphate Market: 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, and TongVo Chemicals Limited.
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. Specifically, European Union has regulated policies to limit use of STPP in detergents to eliminate pollution causing effect, due to which Europe was the highly affected region in terms of regional growth.
The Global Sodium Tripolyphosphate Market is spanned across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. According to the MRFR analysis, Asia Pacific was the most promising region in terms of production as well as consumption as of 2016. The region has accounted for the largest market share of 42% followed by North America at 24%. China is single handedly driving Asia Pacific STPP market by being the largest exporter across the globe.
Access Complete Report @ https://www.marketresearchfuture.com/reports/sodium-tripolyphosphate-market-2319
After Asia Pacific, North America was the second largest market projected to surpass USD 590 million over during the forecast period. Growth in this region is highly credible to the booming food & beverage industry and it is anticipated to provide lucrative growth opportunities in the years to come. Europe experienced drastic changes in term of regional consumption driven by policies regulated by the European Union on the excess use of phosphate in detergents. Strict government regulations along with supreme competition given by zeolite have restricted the growth of this region.
WantStats Research and Media Pvt. Ltd.
Office No. 528, Amanora Chambers
Pune - 411028, Maharashtra, India
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.