Global Ferric Sulfate Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
The Ferric Sulfate Market Report has been segmented on the basis of type, application, and region.
Ferric Sulfate Market: Overview
Ferric Sulfate Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.
Ferric sulfate is a sulfate of trivalent iron and is yellow in color with a rhombic crystalline salt and is soluble in water at room temperature.
It is produced on a large scale by the reaction of sulfuric acid, a hot solution of ferrous sulfate, with an oxidizing agent.
Ferric sulfate is being commonly used as a local hemostatic agent for a longer period of time and has gained widespread importance as a pulpotomy medicament in contemporary dentistry
Ferric Sulfate Market: Dynamics
Increasing demand for ferric sulfate by various end-use industries such as oil& gas, mineral & metallurgy, power generation, etc. is a major factor expected to drive the growth of the global market.
In addition, rising consumer preference for personal hygiene and increasing use of ferric sulfate in personal hygiene products is another factor expected to support the growth of the global market.
Moreover, increasing government expenditure on water purification, coupled with initiatives toward water conservation activities by industries, municipal corporations, and environmental associations are some other factors expected to boost the growth of the global ferric sulfate market.
In addition, the development electronic sector, and the use of ferric sulfate as an alternative to aluminum salts for water purification are some other factors expected to further support the growth of the market.
However, critical storage and handling of ferric sulfate are resulting in lowering the adoption which is a major factor expected to hamper the growth of the global market.
Increasing investment by major players for R&D activities and increasing use of ferric sulfate as an anti-hemorrhagic agent are some factors expected to further create new opportunities in terms of revenue for players operating in the target market over the forecast period.
in addition, increasing expansion activities through strategic agreements is expected to further support the growth of the target market to a certain extent.
Ferric Sulfate Market: Segment
Among the type segments, the industrial-grade segment is expected to dominate in the target market over the forecast period.
Among the application segments, the chemicals segment is expected to contribute significant revenue shares in the target market over the forecast period.
Global Ferric Sulfate Market: Region
The market in the Asia Pacific is expected to dominate the global market and is expected to continue its dominance over the forecast period.
This dominance can be attributed to the developing semiconductor industry and the presence of major manufacturers operating in emerging economies in this region.
In addition, increasing government expenditure on water purification plants, coupled with high adoption by water purification plants is expected to further support growth of the market in this region.
The markets in North America and Europe are expected to contribute significant revenue share, owing to increasing demand from food & beverage manufacturers and the oil & gas sector, and the presence of prominent players operating in the countries in this region.
Global Ferric Sulfate Market Segmentation:
Segmentation by type:
- Industrial Grade
- Food Grade
Segmentation by application:
- Municipal & Domestic
- Power Generation
- Oil & Gas
- Mineral & Metallurgy
- Food & Beverages
- Pulp & Paper
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Pencco, Inc.
- Altivia Chemicals, LLC
- Kemira Oyj
- Chemifloc Limited
- Hunan Yide Chemical Co. Ltd.
- Lubon Industry Co. Ltd.
- Chemtrade Logistics Inc.
- Clinty Chemicals
- Henan Aierfuke Co. Ltd.
- BAUMINAS Group
- Airedale Chemical Company Ltd.
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