Sodium hexametaphosphate (SHMP) is an inorganic compound which possesses excellent sequestering properties. It is extensively used as a food additive, calcium suppressant, cleaning agent, dispersing agent and dye-fixing agent. SHMP's unique properties make it useful in several end-use applications such as water treatment, pulp & paper, textile, cleaning products, food processing among others. The strong chelating properties of SHMP enables it to effectively bind with minerals like iron and calcium thereby preventing fouling of supplies and machinery across these industries.
The global Sodium Hexametaphosphate Market is estimated to be valued at US$ 1,501.17 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Significant uses in various industries presents a key opportunity for growth in the sodium hexametaphosphate market over the forecast period. SHMP finds wide application in sectors such as food processing for its antioxidant properties, it inhibits color changes and rancidity in foods. It also possesses excellent sequestrant properties that allows it to bind with multivalent metal ions and prevent mineral precipitation in industrial processes. Moreover, SHMP acts as a dispersant, chelating agent and modifier in various applications such as water treatment, pulp & paper processing and textile dying, providing resistance against sediments and scaling. Thus, the expanding industrial manufacturing activities across the world is expected to augment demand for SHMP, thereby driving positive market growth.
Porter's Analysis
Threat of new entrants: The sodium hexametaphosphate market requires high capital investment for raw material procurement and production facilities, posing a moderate threat of new entrants.
Bargaining power of buyers: The buyers have moderate bargaining power due to the availability of substitutes in the market.
Bargaining power of suppliers: A few key players dominate the supply side, giving them moderate bargaining power over buyers.
Threat of new substitutes: Substitutes like sodium metaphosphate pose a moderate threat to sodium hexametaphosphate.
Competitive rivalry: The market is moderately competitive due to the presence of established players.
SWOT Analysis
Strength: High demand from end-use industries like food, water treatment, cement, etc. Weakness: Fluctuations in raw material prices.
Opportunity: Growing application scope in various industries. Emerging markets offer growth potential.
Threats: Stringent regulations regarding phosphates. Substitute threats.
Key Takeaways
The global sodium hexametaphosphate market is expected to witness high growth over the forecast period. The growing application in various end-use industries such as food, water treatment, cement, and others is expected to propel market growth.
Asia Pacific dominates the global market and is expected to grow at the fastest rate owing to increasing demand from countries like China and India.
Key players operating in the sodium hexametaphosphate market are Kraft Chemical Company, Inc., Aditya Birla Chemicals, Mexichem, Prayon S.A., Innophos, Chongqing Chuandong Chemical (Group) Co.,Ltd, Israel Chemicals Limited (ICL), Yixing Tianyuan Chemical Co., Ltd., Recochem Inc., Hubei xingfa chemicals group co., LTD, Weifang Huabo Chemical Co., Ltd., Xuzhou Tianjia Food Chemical Co., Ltd, and Guizhou Sino-Phos Chemical Co., LTD.
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