China: Sodium Triphosphate Market 2024

Sodium Triphosphate Market Size in China

For the third year in a row, the Chinese sodium triphosphate market recorded decline in sales value, which decreased by -6.9% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Sodium Triphosphate Production in China

In value terms, sodium triphosphate production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw a mild decline. The most prominent rate of growth was recorded in 2016 with an increase of 22%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Sodium Triphosphate Exports

Exports from China

For the third consecutive year, China recorded growth in shipments abroad of sodium triphosphate (sodium tripolyphosphates), which increased by 18% to X tons in 2022. Over the period under review, exports, however, recorded a noticeable descent. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sodium triphosphate exports skyrocketed to $X in 2022. In general, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons), Brazil (X tons) and India (X tons) were the main destinations of sodium triphosphate exports from China, together accounting for 27% of total exports. The Philippines, Thailand, Mexico, Pakistan, Vietnam, the United States, the Dominican Republic, Yemen, South Korea and Australia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +18.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sodium triphosphate exported from China were Brazil ($X), Indonesia ($X) and India ($X), with a combined 25% share of total exports. Thailand, the Philippines, Mexico, Vietnam, Pakistan, the United States, Australia, South Korea, the Dominican Republic and Yemen lagged somewhat behind, together comprising a further 34%.

In terms of the main countries of destination, Mexico, with a CAGR of +24.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sodium triphosphate export price stood at $X per ton in 2022, jumping by 31% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium triphosphate export price increased by +66.1% against 2020 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 37%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Triphosphate Imports

Imports into China

In 2022, after two years of decline, there was significant growth in supplies from abroad of sodium triphosphate (sodium tripolyphosphates), when their volume increased by 6.7% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 88%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, sodium triphosphate imports soared to $X in 2022. Overall, imports showed a moderate increase. The growth pace was the most rapid in 2013 when imports increased by 93% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of sodium triphosphate to China, accounting for a 69% share of total imports. Moreover, sodium triphosphate imports from Canada exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada stood at +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-5.4% per year) and Germany (+18.1% per year).

In value terms, Canada ($X) constituted the largest supplier of sodium triphosphate (sodium tripolyphosphates) to China, comprising 66% of total imports. The second position in the ranking was taken by Belgium ($X), with a 21% share of total imports. It was followed by Germany, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value from Canada totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-0.2% per year) and Germany (+13.4% per year).

Import Prices by Country

In 2022, the average sodium triphosphate import price amounted to $X per ton, surging by 27% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2017 an increase of 54% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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