Global Tetrakis (Hydroxymethyl) Phosphonium Sulfate Market – Overview
Tetrakis (hydroxymethyl) phosphonium sulfate market has been on a significant rise in recent years due to growing applications across leather, oil and gas, textile, and water treatment industries. There are multiple uses of the product such as biocide, flame retardant, tanning agent, and iron sulfate scavenger. Such broad range of use has made it increasingly popular across its end-use sectors. An upcoming trend of using tetrakis (hydroxymethyl) phosphonium sulfate across water treatment plans has been particularly popular.
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Global Tetrakis (Hydroxymethyl) Phosphonium Sulfate Market – Notable Developments
The global tetrakis (hydroxymethyl) phosphonium sulfate market has a fragmented vendor landscape due to the presence of several key players. Some of the key players in the global market include names such as Arkema SA, Solvay, DowDuPont, Hubei Xingfa Chemicals Group Co. Ltd., and Sigma-Aldrich among others. The leading players in the global market are focusing on developing innovative products and launch them across established channels.
One key development in the global tetrakis (hydroxymethyl) phosphonium sulfate market is given below:
- In October 2018, DuPont Microbial Control (Previously known as Dow Microbial Control), a key business unit of DowDuPont Specialty Products introduced two new products in the market. These new products – AQUCAR 7140 LT Water Treatment Microbiocide and AQUCAR TN 250 LT Water Treatment Microbiocide – are part of the AQUCAR Water Treatment Microbiocides portfolio of the company.
Global Tetrakis (Hydroxymethyl) Phosphonium Sulfate Market – Drivers and Restraints
There are several factors that are influencing the growth of the global tetrakis (hydroxymethyl) phosphonium sulfate market. One key driving factor is the growing demand for biocides in oilfields. Sulfate reducing bacteria is a huge problem for such oilfields. Use of tetrakis (hydroxymethyl) phosphonium sulfate biocides helps tackling this problem and naturally this has helped in driving the growth of the global market. In addition to this, increasing demand for tetrakis (hydroxymethyl) phosphonium sulfate for the maintenance of oilfields is also driving the market growth.
Another major driving factor for the growth of the global market is the booming textile industry that needs tetrakis (hydroxymethyl) phosphonium sulfate as anti-microbial agent. With rapid developments in the industry and newer products being manufactured, use of a solid anti-microbial agent has become one of the primary needs. This has thus helped in further development of the market.
However, there are also some factors that may slow down the growth of the global tetrakis (hydroxymethyl) phosphonium sulfate market. One key restraining factor has been the increasing use of oxidizing biocides.
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Global Tetrakis (Hydroxymethyl) Phosphonium Sulfate Market – Geographical Outlook
The global tetrakis (hydroxymethyl) phosphonium sulfate market is segmented into five key geographical regions. These regions are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, the tetrakis (hydroxymethyl) phosphonium sulfate is mainly dominated by the Asia Pacific region. The growth of the region is driven primarily due to the growing import of leather and leather products. Emerging economies such as India and China are huge importers. China in particular is the fifth largest importer of such products across the globe. In addition to this, the growth of the market is also driven by the growing demand for energy, petrochemicals, and oil & gas among others. This growth in demand is fueled by the rising urbanization that will ultimately help in the development of the global tetrakis (hydroxymethyl) phosphonium sulfate market.
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