Global Ferrous Sulfate Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028
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“Global Ferrous Sulfate Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global ferrous sulfate market report has been segmented on the basis of application and region
Global Ferrous Sulfate Market: Overview
Ferrous sulfate is a type of iron that is used to treat iron deficiency anemia. Medication prescribed by the doctor should be taken in a proper way, ferrous sulfate medicine should be taken on an empty stomach, that should be at least an hour before and 2 hours after the meal. After taking ferrous sulfate medicine the person should avoid taking antacids or antibiotics
Global Ferrous Sulfate Market: Dynamics
Rapid industrialization in developed and developing countries, increasing government spending on water treatment plants, coupled with increasing adoption for ferrous sulfate from water treatment plants for filtration purpose are some major factors expected to drive growth of the global ferrous sulfate market.
Rising demand from the pharmaceutical sector as an ingredient in medicinal preparation for infants and people suffering from hemolytic anemia, porphyria, thalassemia, etc. is another factor expected to further support growth of the global market. In addition, increasing government expenditure on the development of pharmaceutical sector infrastructure which is expected to support better R&D activities and provide novel medications is expected to further support growth of the target market to a certain extent. According to Brand Equity Foundation, investment in R&D by Indian pharma companies increased from 5.3% in 2012 to 8.5% in 2018.
Moreover, increasing spending on health and wellness of farm animals, demand for better quality food products with high nutritious value, coupled with adoption of ferrous sulfate as an additive by animal food manufacturers are among other factors expected to further support growth of the global market. In addition, increasing government spending on the agriculture sector and rising adoption of ferrous sulfate in the production of fertilizes are some other factors expected to support growth of the global market.
However, availability of substitute is a major factor expected to hamper growth of the global ferrous sulfate market.
Increasing R&D activities and innovative product offerings by manufacturers are expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, strategic expansion activities through agreements and partnerships in order to increase the customer base and enhance product portfolio is expected to further support growth of the market to a certain extent.
Global Ferrous Sulfate Market: Region
The market in Asia Pacific is expected to dominate in the global ferrous sulfate market and is expected to continue its dominance over the forecast period. this can be attributed to increasing demand from the pharmaceutical sector, manufacturers shifting their base to developing countries due to the easy availability of raw metrical and low-cost labor, and presence of major manufacturers operating in emerging economies in this region. In addition, growing merger and acquisition activities between regional and international players is expected to further support growth of the market in this region.
The market in North America is expected to witness faster growth, owing to increasing demand from animal food manufacturers and the presence of major players operating in the countries in this region.
Global Ferrous Sulfate Market Segmentation
Segmentation by application
- Water Treatment
- Animal feed
- Body supplements
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Rech Chemicals Co. Ltd.
- Hong Yield Chemical Industrial Co. Ltd.
- Changsha Haolin Chemical Co. Ltd.
- MMC Resources Inc.
- Shaoyang Shenzhou Chemical Industry Co. Ltd.
- Reactivos Mineros SAC
- Cleveland Industries, Inc.
- Zouping County Runzi Chemicals Co. Ltd.
- Gokay Mining and Chemicals
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