Global Trisodium Phosphate(Tsp) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Trisodium Phosphate(Tsp) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Trisodium phosphate is the inorganic compound with the chemical formula Na₃PO₄. It is a white, granular or crystalline solid, highly soluble in water, producing an alkaline solution. TSP is used as a cleaning agent, builder, lubricant, food additive, stain remover, and degreaser.

Market Overview:

The latest research study on the global Trisodium Phosphate(Tsp) market finds that the global Trisodium Phosphate(Tsp) market reached a value of USD 98.57 million in 2022. It’s expected that the market will achieve USD 120.02 million by 2028, exhibiting a CAGR of 3.34% during the forecast period.

Drivers

India has a large population, rapid development, and increasing energy demand. At the same time, the development of the chemical industry is also quite rapid. For more than a decade, India’s chemical industry has played rapidly, and the industries such as fertilizer, textiles, plastics and pesticides have grown rapidly. Among them, especially in the fields of medical chemistry and other fields are world famous. Trisodium phosphate (TSP) has a wide range of applications in chemical, pharmaceutical, etc., and these industries in India are constantly developing rapidly. Trisodium phosphate (TSP) will be widely used in India.

Limitations

For example, China's phosphorus chemical high-end products have insufficient capacity. The downstream phosphorus chemical products are small in scale, and the high-tech, highvalue-added fine phosphorus chemical products have few specifications, single varieties, small output, low quality, far from specialization, refinement, and high purification standards, and some high-end products are heavily dependent on imports. Compared with foreign countries, the gap is large.

By-products produced during the production of trisodium phosphate (TSP) and may have a certain impact on the environment. Whether the chemical products in the production process have adverse effects on the environment or human health will be detrimental to the development of the industry.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

Hubei Xingfa Chemicals Group Co., Ltd. is one of the major players operating in the Trisodium Phosphate(Tsp) market, holding a share of 6.01% in 2019.

Hubei Xingfa Chemicals Group Co., Ltd. develops, produces, and sells phosphoric products and fine chemicals.

Chongqing Chuandong Chemical Co., Ltd. mainly produces phosphoric acid and phosphate, formic acid and formate, fine chemicals (electronic chemicals, food phosphates, chemical reagents, etc.).

Segmentation Overview:

Among different product types, Industrial grade segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Food segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Trisodium Phosphate(Tsp) market covered in Chapter 3:

BANGYE Inc
Lianyungang Kede Chemical Industry
Chongqing Chuandong Chemical
Aarti Phosphates
FBC Industries
Jiangyin Chengxing Industrial Group Co., Ltd.
Jiangsu Kolod Food Ingredients
Hubei Xingfa Chemicals Group Co., Ltd.
Yunnan BK Giulini Tianchuang Phosphate
Shifang Sundia Chemical Industry Limited Company
Innophos
Aditya Birla Chemicals
Suqian Modern Chemical
Shifang Juyuan Chemical

In Chapter 4 and Chapter 14.2, on the basis of types, the Trisodium Phosphate(Tsp) market from 2018 to 2029 is primarily split into:

Industrial grade
Food grade

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Trisodium Phosphate(Tsp) market from 2018 to 2029 covers:

Chemical industry
Medicine
Food
Detergent
Water treatment
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)