- – Ferrous sulfate market may gain considerable growth across the forecast period of 2019-2027 on the back of the growing use of ferrous sulfate across a wide range of end users such as pharmaceuticals, construction, water treatment, and others
- – Asia Pacific may emerge as a prominent regional contributor for the ferrous sulfate market during the assessment period
Transparency Market Research, New York: The demand for ferrous sulfate as a reduction agent is gaining sufficient traction and may serve as an important growth multiplier for the ferrous sulfate market. The increase in the number of construction activities across the globe may also prove fruitful for bringing a rise in the graph of growth.
The analysts at Transparency Market Research (TMR) predict the global ferrous sulfate market to expand at a CAGR of ~3 percent across the forecast period of 2019-2027. Based on all the growth factors, the ferrous sulfate market is anticipated to reach a valuation of ~US$ 4 bn by the end of the forecast period.
The high prevalence of iron deficiency cases around the world has led to a rise in the demand for iron supplements, including ferrous sulfate. This factor may bring immense growth prospects for the ferrous sulfate market. In addition, the growing use of ferrous sulfate in the agriculture industry as a significant vitamin supplement is providing prodigious growth opportunities for the ferrous sulfate market.
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Ferrous Sulfate Market: From Experts’ Desk
The TMR analysts highlight the widespread use of ferrous sulfate across a variety of applications as a significant growth generator. The analysts also point out the rising demand for ferrous sulfate to manufacture pigments and dyes as a vital growth aspect. The analysts further advise the manufacturers in the ferrous sulfate market to focus on production and business continuity strategies in the post-pandemic era.
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Ferrous Sulfate Market: Major Revelations
- – On the basis of product, ferrous sulfate heptahydrate may acquire a large share during the assessment period
- – Among the end-users, the water treatment segment is extrapolated to bring tremendous growth for the ferrous sulfate market
- – China accounted for more than 55 percent share of the ferrous sulfate market in Asia Pacific in 2018
- – The ferrous sulfate market in China is prophesied to expand at a rapid pace between 2019 and 2027
- – India may record moderate growth across the forecast period
- – Asia Pacific may hold a dominating position in terms of regional growth through the forecast period of 2019-2027
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Ferrous Sulfate Market: Growth Accelerators
The growing demand for ferrous sulfate to treat anemia may bring expansive growth opportunities for the ferrous sulfate market. Ferrous sulfate is being used across various industries for wastewater applications. This aspect may serve as a good growth opportunity.
- – The animal feed industry is growing rapidly and the use of ferrous sulfate in production of animal feed may bring burgeoning growth prospects
- – Ferrous sulfate is also used considerably in fertilizers and the escalating demand for agricultural products may serve as a prominent growth booster for the ferrous sulfate market
- – The booming construction sector may also add extra stars of growth to the ferrous sulfate market
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Ferrous Sulfate Market: Key Restraints
- – Ferrous sulfate substitutes may dampen the growth prospects of the ferrous sulfate market
- – Ferrous sulfate has a plethora of side effects such as itching, blisters, rashes, hives, etc and this aspect may prove an obstacle to the growth of ferrous sulfate market
- – Easy availability of ferrous sulfate alternatives may further hamper the growth of the ferrous sulfate market
Ferrous Sulfate Market: COVID-19 Impact
The novel coronavirus pandemic has resulted in magnifying loss across various sectors. The ferrous sulfate market is no stranger to this loss. The lockdown implementations to contain the transmission of SARS-CoV-2 have negatively affected the growth rate of the ferrous sulfate market. The pandemic is expected to disrupt the growth of the ferrous sulfate market mainly in 2020 and the first half of 2020. Nevertheless, the demand for wastewater treatment is expected to gain momentum post the pandemic, thus providing an opportunity to regain lost growth.
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Ferrous Sulfate Market: Segmentation
By Product
- – Ferrous Sulfate Heptahydrate
- – Ferrous Sulfate Monohydrate
- – Ferrous Sulfate Tetrahydrate
- – Ferrous Sulfate Anhydrous
- – Others (including Ferrous Sulfate Pentahydrate)
By Form
- – Granule/Powder
- – Liquid
By End Use
- – Pharmaceuticals
- – Water Treatment
- – Pigments
- – Construction (Cement)
- – Animal Feed
- – Chemical Production/Intermediates
- – Agrochemicals/Fertilizers
- – Food & Beverages
- – Others (including Electrical & Electronics, Mining, and Fish Hatchery)
By Region
- – North America
- – Latin America
- – Middle East and Africa
- – Europe
- – Asia Pacific
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