Global Trisodium Phosphate Market - Wishtree Insight

Global Trisodium phosphate Market by Grade (Food Grade and Industrial Grade), Applications (Water Softener, Detergents & Cleaners, Food Additive, and Others), and Regions (The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The global trisodium phosphate market size was valued at USD 2.3 billion in 2021 and is expected to surpass USD 5.6 billion by 2031, expanding at a CAGR of 6.1% during the forecast period, 2021–2031. The growth of the market is attributed to economic development, growth in population, and improvement in living standards in developing regions.

INTRODUCTION

Trisodium phosphate is an inorganic compound with the chemical formula Na3PO4 abbreviated as TSP. It appears as a white granular or crystalline solid. It is soluble in water and creates an alkaline solution. It is used for various applications like cleaning agents, degreasers, food additives, and others. It is obtained from the process of neutralization of phosphoric acid with sodium carbonate that creates disodium hydrogen phosphate which is further reacted with sodium hydroxide, thus, trisodium phosphate is formed. Sometimes, instead of sodium hydroxide, sodium carbonate is used. Trisodium phosphate is a commonly produced phosphate salt. Along with it, the other produced salts are disodium phosphate (HNa2PO4) and monosodium phosphate (H2NaPO4). The production of various sodium phosphate depends on the ratio of sodium to phosphate in the reactor stage. While in the production of industrial-grade sodium phosphates, wet phosphoric acid is used. In the food industry, sodium phosphates are produced using food-grade phosphoric acid. In recent years, demand for automated dishwashing detergents has decreased dramatically in places such as North America and Western Europe due to environmental concerns. Phosphates, notably trisodium phosphate, are anticipated to lose market share due to environmental concerns. The use of sodium phosphates is rapidly increasing in food, water treatment, and fertilizer, as alternatives to trisodium phosphate are being phased out. The use of trisodium phosphates in detergents is anticipated to be significant, and they are also used in many countries as acids in cleaning products, where they are not restricted.

Market Trends, Drivers, Restraints, and Opportunities

• Growing demand for food additives is augmented to grow the global trisodium phosphate market.
• The demand for packaged food, breakfast food, and ready-to-eat food is expected to drive the trisodium phosphate market in the forecast period.
• Increasing environmental awareness and legislation is anticipated to prohibit the use of trisodium phosphate in detergents.
• Many countries in the world are transitioning towards environmentally friendly alternatives in detergents rather than trisodium phosphate, which is expected to hamper the market.

Scope of the Report

Market Segment Insights

The food-grade segment is expected to expand at a rapid pace

Based on grade, the global trisodium phosphate market is divided into food grade and industrial grade. The food-grade segment is expected to expand at a rapid pace during the forecast period. Trisodium phosphate is used in soft drinks, also it is used as a supplement for animal feed. In the food business, it is used in cereals and processed cheese. In personal care, it is used in toothpaste. However, the industrial-grade segment is anticipated to hold a key share of the market in the coming years.

The detergents & cleaners segment is projected to register a considerable CAGR

On the basis of application, the market is segregated into water softeners, detergents & cleaners, food additives, and others. The detergents & cleaners segment is projected to register a considerable CAGR during the forecast period. The use of trisodium phosphate is majorly seen in detergents & cleaners. Though in recent years a decline in the usage of trisodium phosphate is seen in many countries like Japan, Europe, and others, other countries using it. On the other hand, the food additives segment is anticipated to account for a major market share during the forecast period. due to consciousness regarding the environmental effects and legislation on the usage of detergents, many developed countries are moving towards environmentally friendly products. Which has shifted the focus of trisodium phosphate manufacturers to other applications like food and animal feed, thus the segment is expected to have lucrative growth in the forecast period.

The Asia Pacific and South American region is anticipated to constitute a key market share

In terms of regions, the global trisodium phosphate market is classified as the Asia Pacific, Middle East Africa, Europe, North America, and Latin America. The market of the Asia Pacific and South American region is expected to constitute a key share of the market during the projected period, owing to the thriving food and beverage industries in these regions. The demand for packaged food, breakfast food, and ready-to-eat food is driving the market for trisodium phosphate. Countries like China, India, and Latin America are likely to have significant growth potential in the trisodium phosphate market, as they constitute major applications in the detergents and cleaners category. However, the market of the Europe region is anticipated to grow at a moderate rate, due to a decline in main application areas.

Competitive Landscape

Key players competing in the global trisodium phosphate market are Aditya Birla Chemicals (India); Chem One Ltd. (Texas); Chemfax (Canada); Albright & Wilson (U.K.); BANGYE Inc. (China); Shifang Juyuan Chemical (China); Lianyungang Yunbo Chemical (China); Suqian Modern Chemical (China)

FAQs

How much is the market worth?

The global trisodium phosphate market size was valued at USD 2.3 billion in 2021 and is expected to surpass USD 5.6 billion by 2031.

Mention the market size of the Global bleeding disorders treatment in 2021.

The market size of the Global bleeding disorders treatment in 2021 was USD 15.4 billion.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 6.1%.

What are the key drivers of the market?

The growth of the market is attributed to the growing pharmaceuticals market coupled with a rise in generic production, advancement in functional excipients, and growth in pharmaceutical excipients.

What are the key drivers of the market?

The growth of the market is attributed to economic development, growth in population, and improvement in living standards in developing regions.

What segments are covered in the global trisodium phosphate report?

The segments covered in the report are grade (food grade and industrial grade), and applications (water softener, detergents & cleaners, food additives, and others).

Mention the region is expected to hold the highest share in the Global trisodium phosphate.

The Asia Pacific and South America region is expected to hold the highest share in the Global trisodium phosphate.

Which segment holds the largest market share in the Global trisodium phosphate by 2031?

The food-grade segment holds the largest market share in the Global trisodium phosphate by 2031.

Mention the key players in the market.

Aditya Birla Chemicals (India); Chem One Ltd. (Texas); Chemfax (Canada); Albright & Wilson (U.K.); BANGYE Inc. (China); Shifang Juyuan Chemical (China); Lianyungang Yunbo Chemical (China); Suqian Modern Chemical (China)