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.

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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.

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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.

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Issued By MarketsandMarkets™ INC.
Country United States
Categories Agriculture
Tags thps market
Last Updated September 17, 2019