With the formula FeSO4, ferrous sulphate is a chemical substance. Iron is the source of it, and iron is essential to many biological functions. Ferrous sulphate monohydrate (FeSO4.H2O) and ferrous sulphate heptahydrate (FeSO4.7H2O) are two alternative forms of the chemical. It is often observed as a somewhat green or pale blue crystal and has a high water solubility. Its iron content and other qualities make ferrous sulphate useful in a variety of industries.
According to SPER market research, ‘Ferrous Sulfate Market Size- By Product Type, By End-Use, By Form- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Ferrous Sulfate Market is predicted to reach USD 3.36 billion by 2033 with a CAGR of 3.01%.
As a treatment and preventive measure for iron-deficient anaemia, ferrous sulphate has gained significance throughout time. The global ferrous sulphate market is expected to increase at a considerable rate due to the growing demand for the product in the water treatment industry and the expansion of global manufacturing capacity. Since industrial effluent must be treated before being released into the environment, strict government laws have made this necessary. In the process of treating industrial wastewater, these requirements are anticipated to raise demand for ferrous sulphate. The augmented investment in novel technologies to tackle the issues of quality and performance related to ferrous sulphate production has led to a significant expansion of the worldwide ferrous sulphate market. In order to take advantage of the rising demand, top producers of ferrous sulphate are researching cutting-edge production methods and focusing on developing markets.
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However, it is projected that the comparatively high cost of ferrous sulphate could impede the overall growth of the market over the forecast period. Ferrous sulphate is also primarily obtained from the pickling of steel and the production of titanium dioxide pigment. Changes in these two markets may therefore have an adverse effect on ferrous sulphate output. Because of a greater reliance on these methods, there may be instability in the production of ferrous sulphate, which could affect the chances for market expansion. Ferric chloride is an easy replacement for ferrous sulphate in wastewater treatment. Compared to ferrous sulphate, these alternatives are much more readily available and reasonably priced. Customers' propensity to select these options will hinder the market's growth during the forecast period.
Impact of COVID-19 on Global Ferrous Sulfate Market
Furthermore, there have been both favourable and unfavourable effects of the Covid-19 epidemic on the ferrous sulphate market. The need for clean water has intensified as a result of the pandemic's increased emphasis on sanitation and hygiene. Ferrous sulphate is in high demand as a coagulant due to the increase in water treatment plants' need for their services. But the supply of raw materials for the manufacturing of ferrous sulphate has been affected by the disruptions in the global supply chain brought about by limitations and lockdowns. The pandemic-induced halt to industrial and building projects has resulted in a decline in pigment demand, which has adversely affected the market's growth.
Global Ferrous Sulfate Market Key Players:
Geographically, China is set to lead the regional market in the foreseeable future because of its thriving pharmaceutical industry, supported by government initiatives, cost-effective labor in developing nations, and ample raw materials. Many companies are shifting operations to Asia-Pacific, particularly China, due to favourable conditions. The region's dominance is driven by the expanding pharmaceutical sector, strong ties to agriculture, and growing awareness of nutraceuticals' significance for sector growth. Additionally, some of the market key players are Changsha Haolin Chemicals Co. Ltd., CINKARNA Celje d.d., Coogee Chemicals Pty Ltd., Crown Technology Inc., Rech Chemical Co. Ltd., Others.
Global Ferrous Sulfate Market Segmentation:
By Product Type: Based on the Product Type, Global Ferrous Sulfate Market is segmented as; Ferrous Sulfate Anhydrous, Ferrous Sulfate Heptahydrate, Ferrous Sulfate Monohydrate, Ferrous Sulfate Tetrahydrate, Others.
By End-Use: Based on the End-Use, Global Ferrous Sulfate Market is segmented as; Animal Feed, Construction, Pharmaceuticals, Pigments, Water Treatment, Others.
By Form: Based on the Form, Global Ferrous Sulfate Market is segmented as; Granule or Powder, Liquid, Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Ferrous Sulfate Market Forecast Analysis
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