China - Sodium Triphosphate (Sodium Tripolyphosphates) - Market Analysis, Forecast, Size, Trends And Insights
China's Sodium Triphosphate Exports Plummets to 15K Tons in September 2022
China Sodium Triphosphate Exports
After two months of growth, overseas shipments of sodium triphosphate (sodium tripolyphosphates) decreased by -28.2% to 15K tons in September 2022. In general, exports saw a mild contraction. The most prominent rate of growth was recorded in May 2022 when exports increased by 16% month-to-month. As a result, the exports attained the peak of 21K tons. From June 2022 to September 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, sodium triphosphate exports dropped significantly to $20M (IndexBox estimates) in September 2022. Overall, exports saw a slight setback. The pace of growth appeared the most rapid in May 2022 when exports increased by 21% against the previous month. As a result, the exports attained the peak of $30M. From June 2022 to September 2022, the growth of the exports remained at a lower figure.
Exports by Country
Yemen (1.7K tons), Brazil (1.7K tons) and Indonesia (1.5K tons) were the main destinations of sodium triphosphate exports from China, together accounting for 33% of total exports. Mexico, the Philippines, Vietnam, Peru, Pakistan, the United States, Taiwan (Chinese), Argentina, Tanzania and Australia lagged somewhat behind, together accounting for a further 33%.
From January 2022 to September 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of +84.1%), while the other leaders experienced more modest paces of growth.
In value terms, Brazil ($2.7M), Yemen ($1.8M) and Indonesia ($1.7M) were the largest markets for sodium triphosphate exported from China worldwide, together comprising 30% of total exports. Mexico, the Philippines, Pakistan, Vietnam, Argentina, Peru, the United States, Australia, Taiwan (Chinese) and Tanzania lagged somewhat behind, together comprising a further 33%.
Peru, with a CAGR of +65.4%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In September 2022, the sodium triphosphate price stood at $1,397 per ton (FOB, China), almost unchanged from the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2022 when the average export price increased by 5% m-o-m. As a result, the export price reached the peak level of $1,499 per ton. From July 2022 to September 2022, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Pakistan ($2,395 per ton), while the average price for exports to Tanzania ($941 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.
Factors Affecting Sodium Triphosphate Prices
Sodium Triphosphate (STP) is a white powder that is used as a preservative, emulsifier, and buffering agent in food production. It is also used in detergents, soaps, and paints. STP is produced by the reaction of phosphoric acid and sodium hydroxide.
The price of STP in China has been stable for the past few years, but there are several factors that could impact the price in the future. The first factor is the cost of raw materials. Phosphoric acid and sodium hydroxide are both necessary to produce STP, and their prices can fluctuate based on global markets.
The second factor is production capacity. If there is an increase in demand for STP, manufacturers may need to expand their production facilities to meet the demand.
The third factor is government regulation. The Chinese government has strict regulations on the use of chemicals in food production, and this could impact the price of STP if there are changes to these regulations.
This report provides an in-depth analysis of the sodium triphosphate market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
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The Largest Producers on The Market and Their Profiles
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