Rockville, March 15, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global sodium trimetaphosphate market is estimated at US$ 38.9 million in 2022 and is expected to expand at a CAGR of 5.4% during the forecast years of 2022-2032.
Modified starch possesses numerous functional properties that are suitable for a wide range of industrial applications. As a result of its ability to bulk up after absorbing water, it renders the essential mouthful feel to the food products in which it is used. This makes it an excellent substitute for fat.
Besides this, modified starches are also used as a thickener or a gelling agent in food products. Nowadays, the texture of any food product plays a vital role in consumer preference. Sodium trimetaphosphate is used as a crosslinking agent in the esterification of starch.
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In cross-linking, stronger and more permanent covalent bonds are used to replace intra- and inter-hydrogen bonds in starch chains. A starch is slurried in a solution of a reagent at pH 5.0 - 8.5 to cross-link it with STMP.
After that, the starch is dried and the suspension is filtered. It has been noted that using STMP improves and more evenly distributes cross-links throughout the granule. Modified starch demand is rising as a result of consumers' growing desire for convenience and processed foods. This, in turn, is driving the market's demand for STMP.
Key Takeaways from Market Study
- The global STMP market is projected to expand at an impressive CAGR of 5.4% and be valued at US$ 65.8 million by 2032
- North America dominated the market with a 32.4% market share in 2022
- China is expected to reach a valuation of US$ 7.4 million by the end of 2022
- Application in starch modification is likely to represent 69.1% market share in 2022
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Competitive Landscape
The companies have been significantly developing grades against the backdrop of growing applications. Hefty investments in the end-use market such as starch modification enable them to reach out to new application avenues.
Most manufacturers are reducing the price of their products. On the other hand, other players, specifically in the developed countries are adopting long-lasting and increased durability approaches with a strong focus on quality. Such measures fuel market growth and enable manufacturers to gain high-profit margins.
Key Companies Profiled
- Huaxing
- ICL
- Hubei Xingfa Chemical Group Co. Ltd
- Innophos
- Norwest Chemicals
- Reephos Chemical Co., Ltd
Market Development
Companies such as ICL, Huaxing, and others, are constantly looking for channelling appropriate grades for customers and constantly focusing on evolving applications in the market. Key manufacturers and new players are focused to expand and grow in international markets, including Latin America and South East Asia by identifying demand patterns in the region.
Strong relationships with consumers such as modified starch manufacturers, water treatment industries, the food processing industry, and the building and construction industry are set to reinforce the sales of the firm over the long-term forecast period.
Segmentation of Sodium Trimetaphosphate Industry Research
- By Grade:
- Food
- Technical
- Industrial
- By Application:
- Food Processing
- Water Treatment
- Pharmaceutical Industry
- Starch Modification
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global STMP market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of grade (food, technical, and industrial), application (food processing, water treatment, pharmaceutical industry, starch modification, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Key Questions Covered in the Sodium Trimetaphosphate Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Sodium Trimetaphosphate sales grow until 2033?
- Which are the factors hampering the Sodium Trimetaphosphate demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Sodium Trimetaphosphate Market during the forecast period?
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