SEATTLE–(BUSINESS WIRE)–#FerrousSulfateMarket–The global ferrous sulfate market was valued at US$ 824.4 million in 2018, and is projected to exhibit a CAGR of 3% over the forecast period (2019–2027).
Key Trends and Analysis of the Ferrous Sulfate Market:
Ferrous sulfate is used for manufacturing of tablets for the treatment of iron deficiency in humans. The conventional drugs show high variability in iron absorption, which in turn affects their bioavailability. Therefore, increasing prevalence of iron deficiency is also expected to boost the market growth.
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Furthermore, increasing demand for ferrous sulfate in wastewater treatment, especially in the emerging economies, is expected to drive growth of the ferrous sulfate market during the forecast period. Low water reserves and minimal rainfall are some of challenges faced by major countries in Middle East. However, demand for water is increasing along growing population, urbanization, and industrialization in the region. This in turn is expected to lead to high demand for wastewater treatment, thereby aiding in the market growth.
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For instance, according to an article titled ‘Water Demand Versus Supply In Saudi Arabia: Current And Future Challenges’ published by International Journal of Water Resources Development in 2014, total water demand in Saudi Arabia for combined domestic, agricultural, and industrial sectors was around 18,000 million m3 in 2010, and it is projected to increase up to 20,000 million m3 by 2030. The article also states that the water supply capacity of treated wastewater in Saudi Arabia was around 200 million m3 in 2010, which is projected to increase up to 1,838 million m3 by 2030.
However, ferrous sulfate is highly corrosive in nature, thus requiring special storage equipment and pumping equipment for its usage as coagulant in water treatment. This factor limit the use of ferrous sulfate as coagulants for wastewater treatment.
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Key Market Takeaways:
- The global ferrous sulfate market is expected to exhibit a CAGR of 3% during the forecast period (2019–2027)
- Asia Pacific accounted for significant market share in the ferrous sulfate market in 2018, owing to increasing applications of ferrous sulfate as coagulant in wastewater treatment
- Moreover, major companies involved in wastewater treatment are focused on expanding their business in Asia Pacific, which is also expected to drive growth of the market in the region. For instance, in February 2018, Suez SA, a France-based water treatment company, planned to start a drinking water production plant in Indonesia. The project will provide access to drinking water to a rising population of Indonesia. The company plans to supply 84% of the population with drinking water by 2020. This is expected to increase demand for ferrous sulfate in wastewater treatment industry in Asia Pacific.
- Some of the major players operating in the global ferrous sulfate market include, Crown Technology, Inc., Venator Materials PLC, Verdesian Life Sciences, LLC, Rech Chemical Co., Ltd., Coogee Chemicals Pty Ltd., Chemland Group, Hong Yield Chemical Industrial Co., Ltd., Changsha Haolin Chemicals Co., Ltd., and PJSC Sumykhimprom
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Global Ferrous Sulfate Market, By Product Type:
Global Ferrous Sulfate Market, By Application:
- Water Treatment
- Food & Animal Feed
Global Ferrous Sulfate Market, By Region:
- Rest of Latin America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Middle East and Africa
- Middle East
- North America
- Company Profiles
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