Dublin, Nov. 15, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The global tetrakis (hydroxymethyl) phosphonium sulfate market, in terms of value, is estimated to account for nearly USD 202 million in 2019, to reach approximately USD 279 million by 2025.
Factors such as rise in demand for biocides such as THPS are increasingly used in hydraulic fracturing operations based on the condition of the phase that includes factors such as aerobic and anaerobic conditions, temperature, and preference over other toxic biocides are factors that are projected to drive the growth of this market.
The oil & gas segment projected to be the largest segment in the tetrakis(hydroxymethyl)phosphonium sulfate market during the forecast period
By application, tetrakis(hydroxymethyl)phosphonium sulfate market is segmented into oil & gas, water treatment, leather, textile, and others including paper & paperboard manufacturing; paints, coatings, and emulsion; agriculture; and aquaculture. THPS 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. However, it is the biocidal function of THPS, which is encouraging its increasing use in the oil & gas industry. THPS has been the most widely used biocide, followed by glutaraldehyde during oil & gas operations.
The biocides segment to witness the fastest growth during the forecast period
By function, the tetrakis(hydroxymethyl)phosphonium sulfate market is segmented into biocides, iron sulfide scavenger, flame retardant, and tanning agent. THPS biocides are aqueous solutions that do not contain volatile organic compounds (VOCs). In many cases, after treatment with THPS, the toxicity level of water is low, which would not be toxic for aquatic life. Also, THPS does not bioaccumulate, and therefore, lowers the risks for marine lives. It rapidly breaks down in the environment through hydrolysis, biodegradation, photodegradation, and oxidation.
North America market is estimated to account for the largest market share due to the rapid adoption of advanced technologies for better yielding of crops in the region
North America is the largest market for tetrakis(hydroxymethyl)phosphonium sulfate across the globe. The increasing demand from several applications-such as water treatment, leather, textile, oil & gas, and others-plays an important role in increasing the need for THPS in the region. THPS have high demand in developed countries, such as the US and Canada, owing to the increasing consumption of leather and leather products. The demand for THPS in this region is driven primarily by the increasing consumption of oil and gas activity levels that are rising in the region and the approval of various major projects, such as LNG Canada (Canada) and PowerNap Deepwater Project (US and Gulf of Mexico).
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Opportunities in this Market
4.2 Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market: Key Countries
4.3 Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market, By Application
4.4 Market, By Function
4.5 North America: Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market, By Application & Country
5 Market Overview
5.1 Introduction
5.2 Supply Chain Analysis
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Growth of End-Use Segments Such as Oil & Gas and Textile
5.3.1.2 Preference Over Other Toxic Biocides
5.3.1.3 Increase in Application of THPS in Hydraulic Fracturing
5.3.2 Restraints
5.3.2.1 Alternative Technologies are Being Developed to Replace Biocides
5.3.2.2 Increase in Focus on Oxidizing Biocides
5.3.3 Opportunities
5.3.3.1 Product Innovations and Customizations to Meet Growing Consumer Demand
5.3.3.2 Increase in Focus on High-Growth Markets Such as the Middle East & Asia Pacific
5.3.4 Challenges
5.3.4.1 Rise in Price of Raw Materials
5.3.4.2 Health Hazards Associated With Exposure to THPS
6 Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market, By Function
6.1 Introduction
6.2 Biocide
6.2.1 THPS is Eco-Friendly and Effective in Both Acidic and Alkaline Media
6.3 Flame Retardant
6.3.1 THPS is Majorly Used as A Flame Retardant in Cotton and Cellulose Blend Fabrics
6.4 Iron Sulfide Scavenger
6.4.1 THPS Changes the Physical Form and Bacterial Content of the Iron Sulfide Deposits
6.5 Tanning Agent
6.5.1 Rise in the Use of THPS as A Substitute for Hazardous Chemical Salts During the Leather Tanning Process to Drive the Market Growth
7 Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market, By Application
7.1 Introduction
7.2 Oil & Gas
7.2.1 THPS is Stable at High-Temperatures and Prolongs Downhole Protection in Oilfields
7.3 Water Treatment
7.3.1 THPS has Emerged as A Preferred Biocide in the Cooling Towers of Water Treatment Plants
7.4 Textile
7.4.1 THPS is Used More as A Flame Retardant Than A Leather Tanning Agent in the Textile Industry
7.5 Leather
7.5.1 THPS is Preferred Leather Tanning Agent Over Other Agents
7.6 Others
7.6.1 Increased Applications of THPS Across Industries Due to Its Environment-Friendly Nature
8 Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market, By Region
8.1 Introduction
8.2 North America
8.2.1 US
8.2.1.1 High Demand for THPS in Industrial Water Processes and Growing Manufacturing Industries Drive the Market
8.2.2 Canada
8.2.2.1 Highly Diversified Oil & Gas Industry Driving the Market
8.2.3 Mexico
8.2.3.1 Rise in Investments in the Oil & Gas Industry
8.3 Europe
8.3.1 Germany
8.3.1.1 The Growth in the Oil & Gas Industry in the Country to Drive the Sales of THPS in the Market
8.3.2 Italy
8.3.2.1 The Demand for THPS in the Oil & Gas Sector is Projected to Drive the Market in the Country
8.3.3 Spain
8.3.3.1 The Oil Sector is Projected to Offer Lucrative Opportunities for THPS Manufacturers in the Coming Years
8.3.4 France
8.3.4.1 The Demand for THPS in the Oil & Gas Industry Offers Lucrative Opportunities for Manufacturers in the Country
8.3.5 Netherlands
8.3.5.1 The Demand for THPS in the Oil Industry is Projected to Drive the Growth of the Market
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.1.1 The Rising Government Support and Funding in Various Activities Drive the Chinese Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS), Market
8.4.2 India
8.4.2.1 Increase in Manufacturing Facilities Propelling the Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market in the Country
8.4.3 Japan
8.4.3.1 Increase in the Imports of Leather and Leather Products Enhancing the Growth of the Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market in Japan
8.4.4 Australia & New Zealand
8.4.4.1 Australian Chemical Companies Adopting Advanced Technological Methods for Enhancing Water Treatment Applications in the Country
8.4.5 Rest of Asia Pacific
8.5 Rest of the World (RoW)
8.5.1 South America
8.5.1.1 The Increasing Global Demand for Durable Materials in the Leather Industry is A Major Factor Driving the Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market in the Region
8.5.2 Middle East & Africa
8.5.2.1 Increasing Demand for Oil & Gas-Related Products is Projected to Drive the Growth of the Tetrakis(Hydroxymethyl)Phosphonium Sulfate (THPS) Market in the Region
9 Competitive Landscape
9.1 Overview
9.2 Competitive Leadership Mapping
9.2.1 Dynamic Differentiators
9.2.2 Innovators
9.2.3 Visionary Leaders
9.2.4 Emerging Companies
9.2.5 New Product Launch
10 Company Profiles
- Arkema S.A.
- Changshu New-Tech Chemicals Co. Ltd.
- Compass Chemical
- Dowdupont
- Finoric LLC
- Hubei Lianxing Chemical Co. Ltd.
- Hubei Xingfa Chemicals Group Co. Ltd.
- Jiangsu Dan AI Chemical Co. Ltd.
- Jiangsu Kangxiang Industrial Group Co. Ltd.
- Jiangxi Fuerxin Medicine Chemical Co. Ltd.
- Prasol Chemicals Pvt. Ltd.
- Sigma-Aldrich (Merck KGaA)
- Solvay
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