The ferric sulfate market size is anticipated to grow at a CAGR of 3.9% from 2022 to 2032, from a value of US$ 977.7 Bn in 2022 to US$ 1433.38 Bn by 2032. Major factors anticipated to boost the market growth are:
| Attributes | Details |
|---|---|
| Ferric Sulfate Market Value (2022) | US$ 977.7 Billion |
| Ferric Sulfate Market Forecast Value (2032) | US$ 1433.38 Billion |
| Ferric Sulfate Market CAGR (2022 to 2032) | 3.9% |
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Ferric sulfates are frequently used by manufacturers to enhance the properties of steel and aluminum. The adoption of ferric sulfate in the treatment of an iron deficiency in the blood is one of the major market-driving factors. As a result, actions were taken to increase intake, including expanding the range of dietary supplements and decreasing the price of raw materials.
Due to stringent regulatory requirements for the disposal of contaminated water, the use of ferric sulfate in industrial businesses is rising. The National Pollutant Discharge Elimination System must provide permits to all wastewater dischargers and treatment facilities (NPDES). As a result, the sales of ferric sulfate are growing as health concerns increase. The expansion of the ferric sulfate market is hampered by the advent of UV technologies and RO water filtering, which have superior purification effectiveness than ferric sulfate. Along with suspended particles, the UV and RO filters also get rid of pathogens and illnesses that are dangerous to people.
The ferric sulfate market size is expanding due to the increasing usage of ferric sulfate as a coagulant in the removal of pollutants from wastewater to assist in co-precipitation. Additionally, ferric sulfate is employed in the production of pigments as well as pickling solutions for steel and aluminum. Ferric sulfate demand is expanding as a result of increasing demand from the textile industry for dyeing and calico printing. Ferric sulfate is a crucial raw ingredient utilized in the production of double-distilled water. During the projection period, it is anticipated that the usage of double-distilled water in semiconductors is likely to present multiple growth opportunities to players in the ferric sulfate market.
The Institution of Civil Engineers (ICE) projects that by 2030, global building production would increase by 85% to $15.5 trillion, significantly increasing the sales of ferric sulfate for the pickling process. This may be ascribed to several factors, including rising demand from the pharmaceutical industry, manufacturers moving their bases to emerging economies owing to easy access to raw materials and cheap labor, and the existence of significant manufacturers in these countries.
Ferric sulfate is a whitish yellow crystalline compound. It is acidic in nature and is corrosive to copper, copper alloys and galvanized steels. It is soluble in water and is hygroscopic in nature. It can be extracted from its ores such as mikasaite, lausenite and kornelite among others. Commercially, it is manufactured by oxidizing ferrous sulfate. The largest application of ferric sulfate is in waste water purification.
The growing awareness towards health is the primary driver for the growth of ferric sulfate market. The presence of various harmful chemicals and suspended particles in water are undesirable and need to be clarified in order to make it suitable for consumption.
Ferric sulfate is used to coagulate contaminants and make water potable. Another key driver for the market of ferric sulfate is the growing semiconductors industry. Double distilled water is used in the semiconductor industry. One of the preliminary steps to obtain double distilled water is the use of ferric sulfate. The growing electronic and micro chips industry is driving the market of ferric sulfate and is expected to continue this trend in the forecast period.
Ferric sulfate is however, highly acidic. When ferric sulfate comes in contact with skin it causes severe burns. Thus, the storage and handling of ferric sulfate has to be conducted with extreme caution and is expected to hinder the growth of the market.
The growing GDP of BRICS nations is expected to open new areas of opportunities for the ferric sulfate market. Additionally, ferric sulfate is used as an alternative to aluminum salts for water purification, since the presence of aluminum in treated water is undesirable and a cause of concern to many. This is expected to increase the usage of ferric sulfate in waste water treatment, in the forecast period.
Owing to the strict European Union norms of water purification and phosphorous removal from drinking water, the usage of ferric sulfate is expected to grow in the European Union.
The largest market for ferric sulfate is expected to be China, where treated water is used extensively in agricultural farms for irrigation and in the semiconductor industry. The growing transition of the semiconductor industry from countries such as Taiwan, Japan and Korea to China has fuelled the growth of ferric sulfate market. The U.S and Japan markets are mature and are showing minimal growth in the market of ferric sulfate.
Ferric sulfate is also used as an anti-hemorrhagic agent and as an astringent. It contracts tissues to seal injured blood vessels, thereby preventing blood loss due to trauma. This application of ferric sulfate makes it suited for trauma and emergency centers of hospitals. Ferric sulfate produces a dark red color when dissolved in water. Due to this property, ferrous and ferric sulfate are used in dyes and pigment industry.
Ferric sulfate is used to remove bacteria, arsenic and heavy metals such as chromium, lead, selenium from water, additionally it prevents odor by eliminating hydrogen sulfide. Ferric sulfate is functional over a wide pH range making it suitable for clarification of a wide variety of water samples. In waste water treatment, it is used as a coagulant and a sludge thickening agent.
The major players in this market include-Alfa Aesar, Beijin Ouhe Technology Co Ltd, Chengdu XiYa Chemical Technology Co Ltd and Nanjing Vital Chemical Co Ltd among others.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.
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Ferric Sulfate Market
