Global Tetrakis(Hydroxymethyl) Phosphonium Sulfate Market – Overview
Tetrakis (hydroxymethyl) phosphoniumsulfate market has been on a significant rise in recent years due to growingapplications 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 itincreasingly popular across its end-use sectors. An upcoming trend of usingtetrakis (hydroxymethyl) phosphonium sulfate across water treatment plans hasbeen particularly popular.
Global Tetrakis(Hydroxymethyl) Phosphonium Sulfate Market – Notable Developments
The globaltetrakis (hydroxymethyl) phosphonium sulfate market has a fragmentedvendor landscape due to the presence of several key players. Some of the keyplayers in the global market include names such as Arkema SA, Solvay,DowDuPont, Hubei Xingfa Chemicals Group Co. Ltd., and Sigma-Aldrich amongothers. The leading players in the global market are focusing on developinginnovative products and launch them across established channels.
One key development in the globaltetrakis (hydroxymethyl) phosphonium sulfate market is given below:
· In October 2018, DuPont Microbial Control (Previously known as DowMicrobial Control), a key business unit of DowDuPont Specialty Products introducedtwo new products in the market. These new products – AQUCAR 7140 LT WaterTreatment Microbiocide and AQUCAR TN 250 LT Water Treatment Microbiocide – arepart of the AQUCAR Water Treatment Microbiocides portfolio of the company.
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Global Tetrakis(Hydroxymethyl) Phosphonium Sulfate Market – Drivers and Restraints
There are several factors that areinfluencing the growth of the global tetrakis (hydroxymethyl) phosphoniumsulfate market. One key driving factor is the growing demand for biocides inoilfields. Sulfate reducing bacteria is a huge problem for such oilfields. Useof tetrakis (hydroxymethyl) phosphonium sulfate biocides helps tackling thisproblem and naturally this has helped in driving the growth of the globalmarket. In addition to this, increasing demand for tetrakis (hydroxymethyl)phosphonium sulfate for the maintenance of oilfields is also driving the marketgrowth.
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Another major driving factor for thegrowth of the global market is the booming textile industry that needs tetrakis(hydroxymethyl) phosphonium sulfate as anti-microbial agent. With rapiddevelopments in the industry and newer products being manufactured, use of asolid anti-microbial agent has become one of the primary needs. This has thushelped in further development of the market.
However, there are also some factorsthat may slow down the growth of the global tetrakis (hydroxymethyl)phosphonium sulfate market. One key restraining factor has been the increasinguse 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 theMiddle East and Africa. Of these, the tetrakis (hydroxymethyl) phosphoniumsulfate is mainly dominated by the Asia Pacific region. The growth of theregion is driven primarily due to the growing import of leather and leatherproducts. Emerging economies such as India and China are huge importers. Chinain 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 growingdemand for energy, petrochemicals, and oil & gas among others. This growthin demand is fueled by the rising urbanization that will ultimately help in thedevelopment of the global tetrakis (hydroxymethyl) phosphonium sulfate market.
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