The report “Tetrakis(Hydroxymethyl)Phosphonium Sulfate Market by Application (Oil & Gas, Water Treatment, Leather, Textile), by Function (Biocide, Iron Sulfide Scavenger, Flame Retardant, Tanning Agent) and Region – Global Forecast 2025” The global tetrakis(hydroxymethyl)phosphonium sulfate market, in terms of value, is estimated to account for nearly USD 202 million in 2019 and projected to grow at a CAGR of 5.5%, to reach approximately USD 279 million by 2025. The growth of the oil & gas, leather, water treatment, and textile industries are driving the THPS market growth as the demand and frequency of use have increased.
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The oil & gas segment is estimated to account the largest market share, in terms of value, in 2019
The oil & gas segment dominated the market for tetrakis(hydroxymethyl)phosphonium sulfate as THPS has become the most widely used biocide in oilfields, where sulfate-reducing bacteria create major problems. THPS also has preservative properties and provides high-temperature stability and prolonged downhole protection in oilfields, thereby making it a preferred choice in the oil & gas industry. Due to these factors, the market is projected to witness significant growth.
The biocide segment is estimated to witness the fastest growth in the tetrakis(hydroxymethyl)phosphonium sulfate market, in terms of value from 2019 to 2025
THPS as a biocide is an important chemical used in hydraulic fracturing as well as water treatment systems. Biocides are used primarily for killing and controlling bacteria, as they can cause instability in viscosity and pose high threats. THPS was used initially as an industrial biocide in cooling systems. However, it is used more frequently in the petroleum, oil, and gas industries, as a biocide over the past two decades. The benefits associated with biocides are the major factors contributing to the fastest growth of this market, globally.
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Asia Pacific is projected to grow at the highest CAGR of 5.8% in terms of value during the forecast period
As Asia Pacific is the largest as well as the most populated continent, the consumption of THPS, especially in terms of flame retardants and microbiocides, is high in the region. China, India, Australia, and Japan are the key markets for THPS in the region. China is the largest market in Asia Pacific and one of the leading countries in terms of production as well as consumption of flame retardants. The growing industrial activity in the textile industry has resulted in the rising demand for flame retardant chemicals such as THPS. Due to these factors, the market in the Asia Pacific region is projected to record the highest growth from 2019 to 2025.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the tetrakis(hydroxymethyl)phosphonium sulfate market. It includes the profiles of leading companies such as Arkema S.A. (France), Solvay (Belgium), Sigma-Aldrich (Merck KGaA) (Germany), DowDuPont (US), Hubei Xingfa Chemicals Group Co., Ltd (China), Changshu New-Tech Chemicals Co., Ltd. (China), Jiangxi Fuerxin Medicine Chemical Co., Ltd. (China), Jiangsu Kangxiang Industrial Group Co., Ltd. (China), Prasol Chemicals Pvt. Ltd. (India), Hubei Lianxing Chemical Co., Ltd. (China), Jiangsu Danai Chemical Co., Ltd.(China), Finoric LLC (US), Compass Chemical (US).