The demand for Ferric Sulphate and Polyferric Sulphate Market is expected to grow in the coming years owing to the industrial growth taking place worldwide and the increase in water management regulations. This revelation is made by a new research report released by Future Market Insights.
The report titled ‘Ferric Sulphate and Polyferric Sulphate Market: Global Industry Analysis 2012–2021 and Opportunity Assessment 2022–2027’ presents the complete market scenario of these iron-based coagulants.
This comprehensive research study further highlights major factors impacting the growth of the ferric and polyferric sulphate market worldwide and also the most lucrative regional market. According to the key outcomes of this research on the ferric and polyferric sulphate market, the high rate of global industrialization is resulting in an increase in water contamination.
With the increasing awareness in developing countries about water conservation and reuse, governments in these economies are enforcing stringent regulations for the proper treatment of sludge. As a result, it has been made mandatory for industries to treat sludge before disposal. Ferric and polyferric sulphate works as a major water treatment chemical and growth in demand is expected to spur in the near future.
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Municipal and Domestic to be Dominating End-Use Sector
The Municipal & Domestic sector is expected to represent a market attractiveness rating of 5.0 and be a relatively attractive market segment during the forecast period. This segment is expected to account for over 25% market share both in terms of value and volume during the forecast period.
This is a result of increasing efforts toward water conservation activities by industry bodies, municipal corporations, and environmental associations. Various regulations have been formed by environmental agencies and government authorities, which aim to achieve water conservation and reduce water pollution.
Sludge treatment is an integral part of such activities. During the forecast period, new water and sludge treatment facilities are expected to come up across the globe, which is anticipated to drive the consumption of sludge treatment chemicals across respective regions.
With such trends prevailing in the world, the municipal and domestic sector is expected to reach a market value of over US$ 140 Mn by the end of 2027, growing at a CAGR of 5.3% during the forecast period.
APEJ and Latin America to Closely Compete in Terms of Growth Rate
Due to the expansion of key players and the presence of a large number of companies in the Chinese market, APEJ is expected to be the most attractive regional market for ferric and polyferric sulphate during the forecast period. APEJ is expected to witness the largest market size of over US$ 160 Mn by the end of 2027, growing at a CAGR of 5.3% during the forecast period.
Other than APEJ, Latin America and Eastern Europe are also expected to be lucrative regions with Latin America CAGR by Value 4.5%. This growth can be attributed to the rising demand for clean water in Brazil, Mexico, and other parts of Latin America.
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Competitive Landscape
Some of the key players mentioned in the report are 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, etc.
Ferric Sulphate and Polyferric Sulphate Market by Category
By Product Type:
- Ferric Sulphate
- Poly Ferric Sulphate
By End Use:
- Municipal & Domestic
- Power Generation
- Oil & Gas
- Chemicals
- Mineral & Metallurgy
- Food & Beverages
- Pulp & Paper
- Others
What was the Impact of the COVID-19 Crisis on the Global Market of Ferric Sulphate and Polyferric Sulphate?
The unprecedented outbreak of the SARS-COV-2 virus in the year 2020 has significantly impacted the global economy as well as affected the industrial sector. A decrease in demand from consumers and a low production rate in the manufacturing sector have resulted in lower demand for a product. All these have significantly impacted the supply chain network overall impacting economic growth.
Low growth in the industrial sector of chemicals, oil & gas, paper, and pulp, minerals & metallurgy, and others have significantly impacted the business of iron sulphate compounds during the pandemic crisis. However, the recovery of the economy and the improving industrial sector has enhanced the demand for sulphates of iron.
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Frequently Asked Questions
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Explore FMI’s Extensive ongoing Coverage in the Chemicals & Materials Domain
Water and Waste Water Treatment Chemicals Market: The water and wastewater treatment chemicals market is no different, and a recent report on competition in the global water and wastewater treatment chemicals market released by Future Market Insights (FMI) presents an elucidated view of the same.
Sludge Treatment Chemicals Market: The global market of sludge treatment chemicals is estimated to be valued at around US$ 9,220.5 Mn in 2022 and is further projected to reach US$ 14,456.8 Mn by 2032.
