Sodium Hexametaphosphate Market Size, Share, Growth, and Industry Analysis, By Grade (Food Grade Sodium Hexametaphosphate and Technical Grade Sodium Hexametaphosphate), By Application (Food Application and Industrial Application), Regional Insights, and Forecast To 2032

Updated On: 29 April 2024

Report Overview

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The global sodium hexametaphosphate market size was USD 620.5 million in 2022. As per our research, the market is expected to reach USD 713.2 million by 2028, exhibiting a CAGR of 2.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the sodium hexametaphosphate market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Sodium hexametaphosphate (SHMP) is a water-soluble, white powder that is used in a variety of industrial and commercial applications. It is a salt of composition Na6[(PO3)6]. It is a complex polyphosphate glass that is produced by a thermal process from soda ash and food-grade phosphoric acid.

It is generally recognized as safe (GRAS) by the U.S. Food and Drug Administration (FDA) for use in food and beverage applications. However, it is important to note that some countries have regulations that restrict its use in food and beverage applications.

COVID-19 Impact: Pandemic Decreased the Market Demand

The COVID-19 pandemic has had a significant impact on the sodium hexametaphosphate market share. The lockdown measures implemented by governments around the world to contain the spread of the virus have led to the shutdown of businesses and factories. This has led to a decrease in demand for it in various industries, such as the food and beverage industry, where it is used as a thickener, emulsifier, and preservative. The economic slowdown caused by the pandemic has led to reduced consumer spending. This has also had a negative impact on the demand for it, as it is used in many consumer products, such as detergents and cleaners. The disruption in the global supply chain due to the pandemic has also made it difficult for manufacturers to get the raw materials they need to produce it. This has also led to a decrease in the supply of the product and an increase in prices.

Latest Trends

"Increasing demand in water treatment applications is expected to fuel the growth in the market"

It is a water-soluble polymer that has a chelating effect. This means that it can form complexes with metal ions, such as calcium and magnesium. These metal ions are responsible for water hardness, which can cause scale buildup and other problems in water pipes and appliances. It can help to remove these metal ions from water, making it softer and less likely to cause problems. The increasing demand for clean and safe drinking water is driving the growth of the market in water treatment applications. This is because It can help to improve the quality of drinking water by removing hardness, scale, and other impurities. It can also help to prevent the growth of bacteria and algae in water.

Segmentation

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• By Grade Analysis

According to type, the market can be segmented into Food Grade Sodium Hexametaphosphate and Technical Grade Sodium Hexametaphosphate.

• By Application Analysis

Based on age, the market can be divided into Food Application and Industrial Application.

Driving Factors

"Increasing demand for clean and safe drinking water to foster the market growth"

The increasing demand for clean and safe drinking water is one of the major driving factors of the market. This is because it is used in water treatment products to remove hardness, scale, and other impurities from water. Hard water can cause scale buildup in pipes and appliances, which can lead to leaks and other problems. It can help to prevent scale buildup by forming complexes with metal ions, such as calcium and magnesium. This makes the water softer and less likely to cause problems. In addition to removing hardness, it can also help to prevent the growth of bacteria and algae in water. This is important because bacteria and algae can make water unsafe to drink. It can also help to improve the taste of water by removing chlorine and other impurities.

"Rising awareness about the diseases and their treatment options to result in the expansion of the market"

The increasing demand for processed foods is another major driving factor of the market. It is used in processed foods as a thickener, emulsifier, and preservative. As people become busier and eat out more often, the demand for processed foods is increasing. It helps to keep processed foods moist and prevents them from spoiling. It also helps to improve the texture and flavor of processed foods. The development of new applications for It, such as in the cosmetics and pharmaceuticals industries and increasing use in the textile industry to improve the quality of fabrics are also contributing to the market growth.

Restraining Factors

"Environmental concerns to hamper the market growth"

The production can release harmful pollutants into the environment. These pollutants can include heavy metals, such as lead and mercury, as well as organic compounds, such as phosgene. These pollutants can pollute air, water, and soil, and can have a negative impact on human health and the environment.

Regional Insights

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"Asia Pacific to lead the market owing to the growing demand for titanium dioxide. "

The Asia Pacific region has shown the highest sodium hexametaphosphate market growth. Titanium dioxide is used in a variety of applications, such as paints, plastics, and paper. It is used in titanium dioxide production to improve the quality of the product. The growing population and urbanization in Asia Pacific are also leading to the growth of the processed food industry. It is used in processed foods as a thickener, emulsifier, and preservative.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market.  "

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Aditya Birla Chemicals: Mumbai, India
• Blue Sword Chemical: Nantong, China
• CHENGXING GROUP: Nanjing, China
• Innophos: Memphis, Tennessee, USA
• ICL Performance Products: Tel Aviv, Israel
• Mexichem: Mexico City, Mexico
• Prayon: Vilvoorde, Belgium
• Recochem: Shanghai, China
• Sino-Phos: Qingdao, China
• Tianrun Chemical: Tianjin, China
• Tianjia: Changshu, China
• TKI: Essen, Germany
• Weifang Huabo: Weifang, China
• Hens: Seoul, South Korea
• KDM: Seoul, South Korea
• Mianyang Aostar: Mianyang, China
• Nandan Chemical: Gujarat, India
• Norwest Chemical: Wuhan, China
• Chuandong Chemical: Chongqing, China
• Sundia: Nanjing, China
• Jinguang: Henan, China

Report Coverage

This report examines an understanding of the sodium hexametaphosphate market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.