Sodium hexametaphosphate, also known as SHMP, is an inorganic phosphorus compound that has wide application across various end use industries such as food beverages, water treatment and others. It acts as a sequestrant to prevent the hardness causing ions like calcium and magnesium from precipitating, thereby reducing deposits and corrosion in boilers and other equipment. The chemical also serves as an emulsifier, enzyme inhibitor and antioxidant in food processing.
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 Dynamics:
Rising application in food processing industry: Sodium hexametaphosphate finds major use as a processing aid and sequestrant in food industries. It prevents protein denaturation, controls pH, enhances texture and acts as a preservative. SHMP inhibits the action of enzymes that lead to oxidation of food products. It is widely used as an additive in meat, fish, dairy and baked goods processing. The growth of global processed food industry is driving the demand for SHMP.
Another key driver for this market is its use in water treatment. SHMP acts as a water softener and prevents scaling in boilers and cooling towers. It enhances the effectiveness of detergents in industrial cleaning processes. The chemical helps prevent corrosion in pipes and infrastructure by sequestering metals like magnesium and calcium. Rapid industrialization and infrastructure development activities are fueling the consumption of SHMP in various end use industries.
SWOT Analysis
Strength: Sodium Hexametaphosphate has numerous applications across various industries like food processing, water treatment, textiles, cleaning and others. It acts as an antioxidant, sequestrant and food additive in many food products. It is also effective in metal sequestration, scale control and anti-corrosion which makes it suitable for water treatment applications.
Weakness: Stringent regulations regarding the use of hexametaphosphate may restrict its application in certain countries. Availability of alternative substitutes for some of its applications can pose a potential threat.
Opportunity: Growing food processing and water treatment industries open up opportunities for hexametaphosphate market. Increasing food safety concerns are likely to boost its demand as ingredient in food products. Expanding textile industry also provides growth avenues.
Threats: Fluctuations in raw material prices affect the overall production cost. Growing environmental concerns regarding phosphates could pose challenges.
Key Takeaways
The global sodium hexametaphosphate market is expected to witness high growth on account of its wide applications across various end-use industries like food processing, water treatment, textiles and others. 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.
From a regional lens, Asia Pacific dominates the market and is expected to maintain its lead position during the forecast period. This can be attributed to large production bases and growing industries which utilizes hexametaphosphate in 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.
