Sodium Triphosphate Market

The global sodium triphosphate market is projected to see an increase in consumption trends over the next eight years, with a forecasted CAGR of +5.6% in volume and +7.6% in value from 2022 to 2030. China is the largest consumer and producer of sodium triphosphate, while the United States and India are the top importers. Prices are expected to continue growing in the immediate term, with significant differences in prices amongst major importing and exporting countries.

Market Forecast

Driven by rising demand for sodium triphosphate worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +5.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.8M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.6% for the period from 2022 to 2030, which is projected to bring the market value to $2.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sodium Triphosphate (Sodium Tripolyphosphates)

For the third year in a row, the global market recorded decline in consumption of sodium triphosphate (sodium tripolyphosphates), which decreased by -4.1% to 1.2M tons in 2022. Overall, consumption showed a mild descent. The pace of growth was the most pronounced in 2016 when the consumption volume increased by 7.3% against the previous year. As a result, consumption attained the peak volume of 1.3M tons. From 2017 to 2022, the growth of the global consumption remained at a lower figure.

The global sodium triphosphate market size was estimated at $1.3B in 2022, rising by 6.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 9% against the previous year. Global consumption peaked at $1.4B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

China (470K tons) remains the largest sodium triphosphate consuming country worldwide, accounting for 40% of total volume. Moreover, sodium triphosphate consumption in China exceeded the figures recorded by the second-largest consumer, Kazakhstan (90K tons), fivefold. Belgium (74K tons) ranked third in terms of total consumption with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +1.7%. In the other countries, the average annual rates were as follows: Kazakhstan (+11.5% per year) and Belgium (+6.0% per year).

In value terms, China ($419M) led the market, alone. The second position in the ranking was held by Belgium ($95M). It was followed by the United States.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest. In the other countries, the average annual rates were as follows: Belgium (+5.8% per year) and the United States (+1.2% per year).

The countries with the highest levels of sodium triphosphate per capita consumption in 2022 were Belgium (6.4 kg per person), Kazakhstan (4.7 kg per person) and Israel (3.4 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Kazakhstan (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sodium Triphosphate (Sodium Tripolyphosphates)

Global sodium triphosphate production declined slightly to 1.2M tons in 2022, shrinking by -3% compared with the previous year. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 1% against the previous year. As a result, production attained the peak volume of 1.3M tons. From 2020 to 2022, global production growth failed to regain momentum.

In value terms, sodium triphosphate production declined slightly to $1.1B in 2022 estimated in export price. Over the period under review, production continues to indicate a mild slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 9.4%. As a result, production reached the peak level of $1.4B. From 2017 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (676K tons) constituted the country with the largest volume of sodium triphosphate production, comprising approx. 56% of total volume. Moreover, sodium triphosphate production in China exceeded the figures recorded by the second-largest producer, Belgium (127K tons), fivefold. Kazakhstan (104K tons) ranked third in terms of total production with an 8.6% share.

In China, sodium triphosphate production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Belgium (+0.4% per year) and Kazakhstan (+1.1% per year).

Imports

World Imports of Sodium Triphosphate (Sodium Tripolyphosphates)

Global sodium triphosphate imports reduced modestly to 444K tons in 2022, dropping by -3.6% against the previous year's figure. In general, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of 6% against the previous year. Over the period under review, global imports hit record highs at 799K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, sodium triphosphate imports surged to $735M in 2022. Overall, imports continue to indicate a perceptible slump. Global imports peaked at $962M in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the United States (58K tons) and India (46K tons) represented the largest importers of sodium triphosphate (sodium tripolyphosphates)across the globe, together finishing at near 23% of total imports. Indonesia (24K tons) held a 5.4% share (based on physical terms) of total imports, which put it in second place, followed by Brazil (5.2%). Spain (12K tons), Germany (12K tons), the Netherlands (11K tons), Russia (11K tons), Thailand (11K tons), Peru (9.5K tons), the Philippines (9.1K tons), Mexico (9.1K tons) and Pakistan (8.4K tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +6.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($103M), India ($60M) and Brazil ($49M) were the countries with the highest levels of imports in 2022, with a combined 29% share of global imports. Indonesia, the Netherlands, Germany, Spain, Mexico, Thailand, Russia, Pakistan, the Philippines and Peru lagged somewhat behind, together comprising a further 24%.

Among the main importing countries, Mexico, with a CAGR of +13.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average sodium triphosphate import price stood at $1,655 per ton in 2022, rising by 43% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium triphosphate import price increased by +59.2% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($2,325 per ton), while Peru ($554 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sodium Triphosphate (Sodium Tripolyphosphates)

Global sodium triphosphate exports fell modestly to 475K tons in 2022, almost unchanged from 2021 figures. Over the period under review, exports showed a deep slump. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year. Over the period under review, the global exports reached the peak figure at 797K tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sodium triphosphate exports skyrocketed to $704M in 2022. Overall, exports recorded a perceptible downturn. The global exports peaked at $900M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

China was the key exporting country with an export of about 209K tons, which amounted to 44% of total exports. Russia (67K tons) ranks second in terms of the total exports with a 14% share, followed by Belgium (12%), Canada (7.1%) and Tunisia (6%). The following exporters - Thailand (18K tons) and Kazakhstan (14K tons) - together made up 6.8% of total exports.

Exports from China decreased at an average annual rate of -2.0% from 2012 to 2022. At the same time, Thailand (+4.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +4.9% from 2012-2022. Canada experienced a relatively flat trend pattern. By contrast, Russia (-3.4%), Belgium (-4.3%), Tunisia (-12.6%) and Kazakhstan (-13.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Canada, Thailand and Russia increased by +12, +3.2, +2.4 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($291M) remains the largest sodium triphosphate supplier worldwide, comprising 41% of global exports. The second position in the ranking was taken by Belgium ($114M), with a 16% share of global exports. It was followed by Canada, with a 7.4% share.

In China, sodium triphosphate exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Belgium (+0.2% per year) and Canada (+2.9% per year).

Export Prices By Country

In 2022, the average sodium triphosphate export price amounted to $1,480 per ton, growing by 34% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($2,041 per ton), while Russia ($757 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform