Rise In Demand For Environment-Friendly Biocides By Oil & Gas Industry Is Driving The Demand For THPS Market

Posted September 17, 2019 by kmitalee

The growth of the oil & gas and textile industries is driving the THPS market as the demand and frequency of use have increased.

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 and textile industries is driving the THPS market as the demand and frequency of use have increased. With a large number of plants using THPS as an anti-microbial agent, the demand for THPS is expected to rise in the near future.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=64575638

By function, the tetrakis(hydroxymethyl)phosphonium sulfate market is segmented into biocides, iron sulfide scavenger, flame retardant, and tanning agent. THPS is one of the most efficient biocides widely used in oil field operations to control oil field reservoir souring. THPS biocides provide reduced risks to both human health and the environment. Its selective actions on activities of so-NRB (sulfide oxidizing nitrate-reducing bacteria) and hNRB (heterotrophic nitrate-reducing bacteria) prevent sulfide formation at lower concentrations (0.2%–0.3%) and further inhibits SRB (sulfate-reducing bacteria) growth.

Based on application, the tetrakis(hydroxymethyl)phosphonium sulfate market is segmented into oil & gas, water treatment, leather, and textile, among others. THPS is used widely as a biocide in oil and gas plants, in the cooling towers of industrial water systems; as well as in other industries such as aquaculture, paper, and paint. It is the biocidal function of THPS, which is encouraging THPS use in the oil & gas industry. However, due to factors such as cost, environmental regulation, operational safety, the need for broad-spectrum efficacy, and chemical compatibility, only a few biocides have been used on a large-scale during oil and gas operations. Among them, THPS has been the most widely used biocide, followed by glutaraldehyde.

Read more @ https://www.marketsandmarkets.com/PressReleases/tetrakis-hydroxymethyl-phosphonium-sulfate-thps.asp

By region, Asia Pacific is estimated to witness the fastest growth in the tetrakis(hydroxymethyl)phosphonium sulfate market, in terms of value from 2019 to 2025. 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 (biocidal compound to reduce the infectivity of microbes), 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, as THPS in textile finishing is used to impart flame retardancy to cotton fabrics. Growing industrial activity in the textile industry has resulted in the rising demand for flame retardant chemicals such as the THPS.

The major players such as Arkema S.A. (France), and DowDuPont (US), Solvay (Belgium), Sigma-Aldrich (Merck KGaA) (Germany), Hubei Xingfa Chemicals Group Co., Ltd (China) in the tetrakis(hydroxymethyl)phosphonium sulfate market are focusing on new product launches to expand their global footprint.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
[email protected]
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By MarketsandMarkets™ INC.
Country United States
Categories Agriculture
Tags thps market
Last Updated September 17, 2019