India: Sodium Triphosphate Market 2024

Sodium Triphosphate Market Size in India

The Indian sodium triphosphate market surged to $X in 2022, with an increase of 25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a mild contraction. Sodium triphosphate consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Sodium Triphosphate Exports

Exports from India

In 2022, shipments abroad of sodium triphosphate (sodium tripolyphosphates) increased by 141% to X tons, rising for the second consecutive year after two years of decline. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 557%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, sodium triphosphate exports skyrocketed to $X in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 360%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Myanmar (X tons), Nepal (X tons) and the United States (X tons) were the main destinations of sodium triphosphate exports from India, together accounting for 73% of total exports. Kenya, Nigeria, Brazil, Sri Lanka and the United Arab Emirates lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +749.3%), while the other leaders experienced more modest paces of growth.

In value terms, Nepal ($X) remains the key foreign market for sodium triphosphate (sodium tripolyphosphates) exports from India, comprising 31% of total exports. The second position in the ranking was held by Kenya ($X), with a 15% share of total exports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nepal stood at +43.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+104.5% per year) and the United States (+17.4% per year).

Export Prices by Country

In 2022, the average sodium triphosphate export price amounted to $X per ton, reducing by -23.1% against the previous year. Over the period under review, the export price showed a abrupt setback. The pace of growth appeared the most rapid in 2019 an increase of 27% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Myanmar ($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 Nigeria (+8.6%), while the prices for the other major destinations experienced mixed trend patterns.

Sodium Triphosphate Imports

Imports into India

In 2022, imports of sodium triphosphate (sodium tripolyphosphates) into India declined to X tons, with a decrease of -6.9% on the previous year's figure. Over the period under review, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2013 with an increase of 43%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, sodium triphosphate imports skyrocketed to $X in 2022. In general, imports showed a relatively flat trend pattern. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Russia (X tons) and Tunisia (X tons) were the main suppliers of sodium triphosphate imports to India, with a combined 85% share of total imports. Thailand and Belgium lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +19.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Russia ($X) and Tunisia ($X) appeared to be the largest sodium triphosphate suppliers to India, with a combined 77% share of total imports. Thailand and Belgium lagged somewhat behind, together comprising a further 20%.

Belgium, with a CAGR of +25.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sodium triphosphate import price stood at $X per ton in 2022, jumping by 56% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium triphosphate import price increased by +66.9% against 2020 indices. As a result, import price reached the peak level and is likely to continue 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 Belgium ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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