[FURL=https://www.industryarc.com/Report/17702/sodium-tripolyphosphate-stpp-market.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Sodium Tripolyphosphate (STPP) Market[/FURL] size is forecast to reach $2.6 billion by 2026, after growing at a CAGR of 1.5% during 2021-2026. Sodium Tripolyphosphate (STPP) is an inorganic compound present in crystalline white powder or granular form. The sodium tripolyphosphate (STPP) is majorly used as a component to produce synthetic detergents, paints, food preservatives and are used for water treatment. COVID-19 Impact
The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. Currently the Sodium Tripolyphosphate Market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. According to World Trade Organization (WTO), global trade volumes are projected to decline between 13-32% in 2020. The pandemic is impacting various operations in food & beverages, industrial cleaners, and others. This in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020 and a few months in 2021. As sodium tripolyphosphate (STPP) is majorly used in these sectors and hence due to decline in operation it has led to decline in growth of the market.
Key Takeaways
Asia Pacific dominates the Sodium Tripolyphosphate (STPP) Market owing to rapid increase in usage in the household and industrial cleaning segment.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Sodium Tripolyphosphate Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Sodium Tripolyphosphate Market related industries has been negatively affected, thus hampering the growth of the market.
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Sodium Tripolyphosphate (STPP) Market Drivers
Rise in demand for water treatment
Industrialization has led to the increase in demand for water treatment in various industries for different purposes.
Superior properties of sodium tripolyphosphate
Sodium tripolyphosphate has a high and a low rate of hydration, which makes it superior to be used with modern equipment’s. It is also used as a pH adjuster or for buffering in many applications for matching the pH value between 9.4-10.
Sodium Tripolyphosphate (STPP) Market top 10 companies are Grasim Industries Ltd., Hubei Xingfa Chemicals Group Co. Ltd., Sigma-Aldrich, Haifa Group, Innophos Holdings Inc., Israel Chemicals Ltd., Merck KGaA, Tata Chemicals, Aditya Birla Chemicals.
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