According to the research report titled ‘Global Tetrakis (Hydroxymethyl) Phosphonium Sulfate Market by Application (Oil & Gas, Water Treatment, Leather, Textile), by Function (Biocide, Iron Sulfide Scavenger, Flame Retardant, Tanning Agent), Regional Forecasts 2021-2027’, available with Market Study Report, global tetrakis (hydroxymethyl) phosphonium sulfate market size was worth USD 0.21 billion in 2020 and is expected to record a CAGR of 5.5% over 2021-2027, subsequently accumulating USD 0.31 billion by the end of the assessment period.
 

Global tetrakis (hydroxymethyl) phosphonium sulfate market growth is primarily driven by growing end-use segments like oil & gas and increasing application of the product in hydraulic fracturing.
 

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For the unversed, tetrakis (hydroxymethyl) phosphonium sulfate is an organophosphorus chemical having excellent stability and low crystallization point. Its end users comprise oil field activities, water treatment systems, and the paper-making industries. It is also used as a fire-retardant substance in fabric coatings.
 

Notably, THPS has several technical advantages over typical biocides, including being effective at low dosages, less dangerous to non-target species, and biodegradable in nature. It is used as an antibacterial agent in the textile industry. The usage of a solid antibacterial agent has become one of the most significant requirements with rapid advances in the industry and the production of innovative goods, further augmenting worldwide tetrakis (hydroxymethyl) phosphonium sulfate industry expansion.
 

For the record, In October 2018, DowDuPont Specialty Products' DuPont Microbial Control (previously Dow Microbial Control) introduced two new products to the market. The company's AQUCAR Water Treatment Microbiocide portfolio now includes the AQUCAR TN 250 LT Water Treatment Microbiocide and the AQUCAR 7140 LT Water Treatment Microbiocide. Similar moves by other industry participants is likely to have a positive impact on the business scenario.
 

On the downside, rising focus on oxidizing biocides is anticipated to hamper the industry remuneration over the forecast timespan.
 

Elaborating on regional terrain, North America presently holds significant portion of worldwide tetrakis (hydroxymethyl) phosphonium sulfate market share, followed by Asia Pacific. The demand for THPS can be attributed to increasing oil & gas activity levels. There has also been a surge in demand from various applications like textiles, leather, water treatment, oil & gas, and others, which has further contributed to the overall regional market outlook.
 

Top companies in global tetrakis (hydroxymethyl) phosphonium sulfate industry are Changshu New-Tech Chemicals Co. Ltd., Hubei Xingfa Chemicals Group Co. Ltd., Jiangsu Kangxiang Industrial Group Co. Ltd., Jiangsu Danai Chemical Co. Ltd., Compass Chemical International LLC, Finoric LLC, Hubei Lianxing Chemical Co. Ltd., Prasol Chemicals Pvt. Ltd., Jiangxi Fuerxin Medicine Chemical Co. Ltd., and Sigma-Aldrich (Merck KGaA).