"The global Tetrakis phosphonium sulphate market is estimated to grow at a CAGR of 3.79% to reach a market size of US$ 312.469 million by 2024, from US$249.975 million in 2018."
Tetrakis Phosphonium Sulphate is also known as Tetrakis(hydroxymethyl) phosphonium sulphate is a clear colorless compound that has many uses such as flame retardant, biocides, tanning agent. The demand for Tetrakis phosphonium sulphate is primarily driven by industries such as oil and gas, textile and water treatment. Mostly, it is used as a biocide for water treatment operations. It is an essential chemical compound in use in various industries such as in textile industries since it is used as a textile flame retardant in which first a pre-condensate of urea is formed then it is cured on the cotton fabric. In leather industries, it is used as a tanning agent in which it is used as a substitute for chrome that produces a white hide and allows the tanner to reduce the use of hazardous chrome salts. In the oil and gas industry, it is used as an iron sulfide scavenger in oil field waters as it turns into a water-soluble complex which then removes any traces of iron sulfide in the water and removes deposits from pipe surfaces, filter media, and other equipment.
Due to rapid industrialization, many industries are coming up in different regions of the world so the demand for tetrakis phosphonium sulphate is increasing as its use is beneficial for different industries. This majorly acts as a driving factor for the global tetrakis phosphonium sulphate market growth. With respect to usage, the biocide segment is poised to grow at a notable rate throughout the forecast period as the demand for tetrakis phosphonium sulphate is more for use as a biocide.
Some of the key players like are selling tetrakis phosphonium sulphate for various uses include DuPont and Dow that sell a product AQUCAR THPS 75 Water Treatment Microbiocide which is 76.5% w/w aqueous solution of tetrakis(hydroxymethyl) phosphonium sulfate. AQUCAR™ THPS 75 Water Treatment Microbiocide is a broad-spectrum biocide developed to inhibit the growth of algae, bacteria, yeasts and fungi in process waters used in various industrial applications. AQUCAR THPS 75 Water Treatment Microbiocide is effective in both acid and alkaline environments. Another key player Solvay sells tetrakis phosphonium sulphate as a biocide. Solvay’s biocide TOLCIDE® PS is targeted at a wide range of applications in the oil & gas field and water treatment markets. TOLCIDE ® PS is a successful, fast-acting and powerful microbiocide, designed to eliminate bacteria from oilfield waterflood operations or fracturing fluids in oil and gas reservoirs. It is also used in industrial water treatment installation.
By Usage, the global tetrakis phosphonium sulphate market is segmented as a biocide, iron sulfide scavenger, flame retardant, and tanning agent. Biocide is anticipated to be one of the fastest-growing segments as most of the industries use this compound as a biocide.
By End-User Industry
By End-User Industry, the global tetrakis phosphonium sulphate market can be segmented as paper industry, oil and gas industry, leather industry, textile industry, and water treatment. The oil and gas industry holds a significant amount of share in the market owing to the increasing demand of tetrakis phosphonium sulphate as it provides protection to components and has high stability at high temperatures. However, it is the biocidal function of tetrakis phosphonium sulphate that is boosting the demand for it in the water treatment.
Geographically, the global tetrakis phosphonium sulphate market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific, and South America. North America is projected to hold a significant market share owing to its growing usage for water treatment, tanning agents, and biocide in the region.
The global tetrakis phosphonium sulphate market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.
The global tetrakis phosphonium sulphate market has been segmented by usage, by end-user industry, and by geography.
By End-User Industry