The ‘Global Trisodium Phosphate Market Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global trisodium phosphate market price, assessing the market on the basis of its segments like grades, applications, and major regions.
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Trisodium Phosphate Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.0%
| Report Attribute | Details |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Base Year | 2020 |
| Revenue Forecast in 2026 | 671.77 million |
| Growth Rate CAGR | 5% |
| Major Players | Recochem Inc, Jiangsu Kolod Food Ingredients Co., Ltd., FBC Industries, Inc., Aarti Phosphates, Hefei TNJ Chemical Industry Co.,Ltd and others. |
Food-grade trisodium phosphate is utilised as a thickening agent and emulsifier in various cuisines and condiments. In this regard, the thriving food and beverage industry is driving the demand for the product. In addition, trisodium phosphate is used as a nutritional enlarger. Therefore, the increasing preference for nutritional and healthy packaged food products is further propelling the trisodium phosphate market demand.
Trisodium phosphate is utilised as an acidity regulator in various foods and beverage products. With the growing prevalence of acidity issues, especially among geriatrics, the demand for trisodium phosphate as an acidity-controlling food additive is rising.
Trisodium phosphate is an excellent cleaning agent that can efficiently remove stubborn stains and marks on white fabrics, which is bolstering its demand in the manufacturing of detergents and cleaners. In addition to this, the product is inexpensive and takes less time in mixing with water as compared to its counterparts. Hence, consumers increasingly prefer it on account of the enhanced convenience. Moreover, the anticipated surge in applications of trisodium phosphate in water softeners is expected to fuel the trisodium phosphate market growth in the forecast period.
In terms of region, the Asia Pacific accounts for a significant share of the market owing to the rapid urbanisation and robust economic growth in countries such as India and China. The high population in the region is anticipated to boost the demand for detergents and food additives in the commercial and industrial sectors, thereby driving the utilisation of trisodium phosphate.
Trisodium Phosphate Definition and Major Segments
Trisodium phosphate, variously known as sodium orthophosphate, is a white-coloured odourless inorganic compound. It is typically used as a cleaning agent and a food additive. The compound has high solubility with a molecular weight of 163.94 g/mol.
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Based on grade, the market can be segmented into:
• Food
• Technical
The market can be broadly categorised based on application into:
• Food Additive
• Detergents and Cleaners
• Metal Treatment
• Water Softener
• Others
On the basis of region, the market can be divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Trisodium Phosphate Market Trends
One of the significant trends in the trisodium phosphate market include the rising demand for cost-effective and easy-to-use detergents and cleaners from the household sector. This can be attributed to the growing population, rising per capita income, and robust economic development in the semi-urban areas. As trisodium phosphate is a heavy-duty cleaner, it is increasingly used to clean complex areas such as refrigerators and home chimneys.
The rapid industrialisation across emerging economies is bolstering the demand for heavy-duty cleaning agents, which is anticipated to be another crucial trend in the market. Moreover, the development of hotels and restaurants owing to the robust growth of the HoReCa sector is propelling the demand for food additives, which is expected to further invigorate the trisodium phosphate market demand.
The thriving e-commerce industry in countries like the United States and China is significantly bolstering the sales of downstream trisodium phosphate products. Additionally, the growing demand for dry trisodium phosphate owing to its greater shelf life is further accelerating the market development.
Technological advancements in the metal treatment industry are driving the market growth. Furthermore, the surging demand for trisodium phosphate in degreasing and cleaning metal compounds in the building and construction sector is favouring the trisodium phosphate market development.
Key Market Players
The key players in the trisodium phosphate market report are :
- Recochem Inc.
- Jiangsu Kolod Food Ingredients Co., Ltd.,
- FBC Industries, Inc.
- Aarti Phosphates
- Hefei TNJ Chemical Industry Co.,Ltd.
- others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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