Sodium Phosphate Market Size Worth USD 3.34 Billion in 2032 | Emergen Research

Vancouver, Jan. 01, 2024 (GLOBE NEWSWIRE) -- The global sodium phosphate market size was USD 1.53 Billion in 2022 and is expected to register a rapid revenue CAGR of 8.3% during the forecast period. The global sodium phosphate market is witnessing significant growth, driven by its widespread use in various industries such as food and beverage, medical and pharmaceutical, personal care, and water treatment. Sodium phosphate, a group of salts formed by combining sodium and phosphate, plays a pivotal role in maintaining pH balance, particularly in applications requiring neutral or alkaline conditions.
Market Dynamics:

The demand for sodium phosphate is on the rise, fueled by the increasing popularity of emulsifiers and stabilizers in the food and beverage industry. The processed food sector is expected to contribute significantly to the market's revenue growth, with the demand for food additives projected to reach USD 56.32 billion by 2030. Despite this positive outlook, challenges such as volatile raw material costs and potential health side effects pose constraints on the market's expansion. The complex manufacturing process and associated high operational expenses also contribute to pricing difficulties, encouraging buyers to explore cost-effective alternatives.

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Product Insights:

In 2022, the trisodium phosphate segment dominated the global sodium phosphate market due to its rising demand in food industries and water treatment. Trisodium phosphate's alkaline solution, heat resistance, and stability make it a preferred choice, enhancing texture and moisture retention in food products. Leading manufacturers are investing in Research & Development to provide tailored products that align with specific application needs.

Source Insights:

Sedimentary marine deposits are anticipated to experience fast revenue growth in the global sodium phosphate market. These deposits offer a valuable source of phosphorus for fertilizer production, ensuring cost savings and environmental advantages. Precise control over the concentration process results in higher purity levels crucial for industries requiring sodium phosphate, such as food and beverage.

Application Insights:

The leavening and emulsifying agent segment is poised to capture a substantial revenue share in the sodium phosphate market. The rising adoption of leavening and emulsifying agents in the food industry, where sodium phosphate plays a crucial role in generating bubbles and maintaining texture, contributes to this growth. The material's resistance to heat and acid further enhances its appeal for preserving and improving flavor in processed food products.

End-Use Insights:

The Food & Beverage (F&B) segment is expected to register moderate revenue growth, driven by the increasing demand for additives and emulsifiers in the protein-enriched sector. Sodium phosphate's medicinal and stabilizing properties make it an ideal solution for manufacturers looking to enhance taste and lifespan in drinks. Its compatibility with various fabrication techniques positions it as a favored material in the evolving needs of the food industry.

Regional Insights:

The Asia Pacific emerged as the largest revenue contributor in 2022, driven by the rising adoption of stabilizers and food additives in countries like China, Japan, South Korea, and India. The North America market is expected to witness the fastest revenue growth, with the U.S. and Canada leading in the demand for sodium phosphates. In Europe, the market is set to account for a considerable revenue share, fueled by increasing demand for lithium-ion batteries.

Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The global sodium phosphate market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective sodium phosphate products in the market. Some of the major companies included in the global sodium phosphate market report are:

• EuroChem Group
• The Mosaic Company
• Israel Chemicals Ltd.
• Tata Chemicals
• Innophos Holdings, Inc.
• PhosAgro
•  Maaden
• The Potash Corporation of Saskatchewan
• Agrium Inc.
• Grasim
• Aarti Phosphates
•  Sumitomo
• Saudi Arabian Mining Company
• Xuzhou Zexin Phosphates Co., Ltd.
• Hawkins Inc

Strategic Development

• On 4 November 2022, Meat and poultry Highlights Innophos solution that ensures succulence animal proteins are essentially large and highly structured molecules. This prevents them from interacting with water or other compounds included in the formula. There are various ingredients that can help to encourage these large proteins to retain moisture. When animal proteins are at their isoelectric point (about pH 5. 1), they do not bind well with water. However, when meat proteins are consumed, they absorb water and bind with it. Proteins are charged by decreasing or increasing their pH, which is one of the functions of phosphate.
• On 23 February 2022, EuroChem Group, one of the world’s known fertilizer producers, announced the acquisition of the project Serra do Saliter phosphate in Brazil. EuroChem officially took over the Minas Gerais advanced stage mine and plant on 22 February. The complex includes an open-pit phosphate mine with reserves of over 350 million tonnes (MMT) and a plant has a production capacity of 1 million tons of fertilizer per year. The transaction is worth USD 452 million and EuroChem will invest the same amount to fully implement the project. Fertilizer production is expected to begin in 2024 and reach full capacity in 2025. The mine and processing plant are currently operating and producing approximately 500 KMT of phosphate rock.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global sodium phosphate market on the basis of product, source, application, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)

• • Trisodium Phosphate
  • Monobasic Sodium Phosphate
  • Disodium Phosphate

• Source Outlook (Revenue, USD Billion; 2019-2032)

• • Igneous and Weathered Rock
  • Sedimentary Marine Deposits
  • Biogenic

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Leavening and Emulsifying Agent
  • Processed Food Stabilizing
  • pH Balance and Saline Laxatives
  • Others

• End-Use Outlook (Revenue, USD Billion; 2019-2032)

• • Food & Beverage (F&B)
  • Medical and Pharmaceutical
  • Personal Care
  • Water Treatment
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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