Future Market Insights
Global Sodium Phosphate Market: Introduction
Sodium phosphate is a term mainly used for a range of salts of sodium and phosphate. Sodium phosphates has various applications, primarily in food & beverages and water treatment. Sodium phosphates are frequently used as thickening agents, emulsifiers, and leaving agents for baked goods.
Further, sodium phosphate is used to regulate the pH of processed foods. The compound is used in medicines such as for constipation and to make the bowel for medical processes. The various types within the sodium phosphates occur naturally as white crystalline solids.
Sodium phosphate is majorly used in hair conditioners, shampoos, oral hygiene products, hair dyes, fragrances, bath products, various types of makeup, and other skincare products owing to their unique cleansing properties.
Global Sodium Phosphate Market: Drivers and Restraints
Food grade sodium phosphates are used as the food additive due to the rising demand for the food & beverages. The food grade sodium phosphates are used as food additives they have the properties such as buffering capacity sequestration and water retention capability. Another factor, driving the sodium phosphate market is the increase in demand from the developing countries owing to the changing customer preference and the increasing spending capacity of individual consumers in these regions.
Increasing crop production has further enhanced the sales for sodium phosphate market. Other factors such as the increase in meat consumption owing to increasing demand for animal feed, rising demand for water treatment chemicals are few other factors driving the sales for sodium phosphate market.
However, the greatest challenge in the global sodium phosphate market is the diminishing supply of phosphate. Another major challenge in the market is the stringent regulations related to the usage of sodium phosphate in detergents.
Global Sodium Phosphate Market: Segmentation
The global sodium phosphate market is segmented by product type into:
The global sodium phosphate market is segmented by application into:
The global sodium phosphate market is segmented by a source into:
Global Sodium Phosphate Market: Segmentation Overview
The global sodium phosphate market is segmented majorly into two segments namely, by application and by source. By application, the segment is further sub-segmented into food & beverages, personal care, fertilizers, detergents, metal finishing, and water treatment chemicals. The fertilizer segment is anticipated to account for the largest share. The primary reason being the need for higher agricultural production on the limited available arable land is expected to enhance the sales for sodium phosphate for the manufacture of fertilizers.
Global Sodium Phosphate Market: Regional Outlook
The global sodium phosphate market is segmented by regions into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia-Pacific excluding Japan (APEJ), and Japan. The Asia-Pacific region phosphate market is expected to witness the highest CAGR during the forecast period. The growing population in the region along with the increasing demand for food amongst the consumers is one of the primary driver driving the sodium phosphate market in the region. India and China are the key countries where the market is expected to enhance owing to the vast population and the demand for processed food.
Global Sodium Phosphate Market: Prominent vendors
Few of the prominent players in the global sodium phosphate market are The Mosaic Company, S.A. OCP, Potash Corporation of Saskatchewan Inc., PJSC PhosAgro AG, Agrium Inc., EuroChem, Saudi Arabian Mining Company, Innophos Holdings, Inc., Israel Chemicals Ltd, and among others. Few of the strategies adopted by the key players in the market are partnership and collaboration with other operators, expansion into the untapped market, and joint ventures with the organizations in emerging countries to gain the strong foothold in the market.
To ensure product differentiation and to acquire a considerable share of the market, major vendors are adopting creative strategies and are constantly developing innovative products. Most of the major Sodium Phosphate manufacturers concentrate on capitalizing their funds to maintain applications and technical marketing groups are appointed to serve the ever-changing needs of clients.
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