Pune, India -- (SBWIRE) -- 04/03/2019 -- Our latest research report entitled Sodium Tripolyphosphate (STPP) Market (by the application (ceramic tiles, detergent, food additives, metal treatment, paints, water treatment)) Global Industry Analysis, Trends, Market Size and Forecasts up to 2023 provides complete and deep insights into the market dynamics and growth of sodium tripolyphosphate. Latest information on market risks, industry chain structure sodium tripolyphosphate cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential sodium tripolyphosphate growth factors.

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The forecast sodium tripolyphosphate market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, sodium tripolyphosphate on a global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. The global sodium tripolyphosphate market is projected to reach USD 590 million by 2023, growing with a CAGR of 5.5% from 2017 to 2023.

Sodium Tripolyphosphate (STPP) Market: Industry Insights

Sodium Tripolyphosphate (STPP) is a solid inorganic compound that is widely used in household cleaning products as well as it is used in animal feeds, human foodstuffs, and ceramic manufactures. Sodium Tripolyphosphate majorly consumes as a component for commercial detergents. Sodium Tripolyphosphate is not distributed or transported to the atmosphere owing to its physicochemical properties.

Sodium Tripolyphosphate (STPP) Market: Drivers and Restraints

The growing use of sodium tripolyphosphate in the food and beverage industry drives the growth of Sodium Tripolyphosphate (STPP) Market. Sodium Tripolyphosphate is a white soluble powder and in the food and beverage industry, it is used as a preservative and as an emulsifier. It is mainly used in meats, seafood, and poultry. Increasing population is coupled with an increase in demand for phosphates in food and beverage industry. According to indicators in dairy, bakery, beverage, and meat processing industries, the global food phosphate market is expected to cross USD 2.4 billion by 2024. Furthermore, demand for sodium Tripolyphosphate is increasing in emerging economies for cleaning products that in turn propel the growth of Sodium Tripolyphosphate (STPP) Market.

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Sodium Tripolyphosphate (STPP) Market: Segmentation

The global sodium tripolyphosphate market is categorized into application type. On the basis of application, the sodium tripolyphosphate market is segmented into ceramic tiles, detergent, food additives, metal treatment, paints, water treatment, and others. Among these applications, sodium tripolyphosphate used in regular and compact laundry detergents, automatic dishwashing detergents, industrial and institutional detergents, and surface cleaners and allows detergents to perform efficiently in all washing conditions. Further, Sodium tripolyphosphate is a preservative for animal feeds, seafood, meats, and poultry. Sodium tripolyphosphate used as an emulsifier and to retain moisture.

Sodium Tripolyphosphate (STPP) Market: Regional Insights

Among the geographies, Asia Pacific dominated the sodium tripolyphosphate market followed by North America. Among the region, China is the largest prouder of sodium tripolyphosphate that is account for more than 40% of market share in the year 2015 and 2016. Increasing demand for sodium tripolyphosphate by end-user industries in countries of Asia Pacific region such as India fuels the growth of sodium tripolyphosphate market in the region. Household cleaning applications are estimated by industry to account for 90-95% of sodium tripolyphosphate use in Europe.

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Sodium Tripolyphosphate (STPP) Market: Competitive Analysis

The prominent players in the sodium tripolyphosphate market are lfa Aesar, FMC Foret SA, Hubei Xingfa Chemical Group Co.Ltd, ICL Performance Products LP, Innophos Inc, Sichuan Jianguang Industrial Group Co.Ltd, The Mosaic Company, Tianyuan Group, Quimir SA de CV, and Wengfu Group Co.Ltd.

Reasons to Buy this Report:

- Comprehensive analysis of global as well as regional markets of the sodium tripolyphosphate.

- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2023.

- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.

- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.