The Global Ferrous Sulfate Market Growth Accelerated By Increasing Demand From Water Treatment Industry


FerrousSulfate Market 

Ferrous sulfate, also known as copperas, is an inorganic compound that finds wide applications in various industries such as water treatment, agriculture, coloring agents, wastewater treatment and others. It is mainly used as a coagulating agent in water purification plants to remove impurities. The global growth of water treatment industry, especially in developing nations is one of the key factors boosting the demand for ferrous sulfate. The global ferrous sulfate market is estimated to be valued at US$ 1015.83 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The increasing demand from water treatment industry is one of the major trends being witnessed in the global ferrous sulfate market. Ferrous sulfate is an essential coagulating agent that is used to remove suspended impurities from water during purification process. It helps in flocculation by binding with suspended particles in water to form flocs. Rapid industrialization and growing population have placed significant pressure on water resources which is accelerating the need for water treatment activities across the world. Developing economies in regions such as Asia Pacific and Latin America are witnessing massive investments in water treatment infrastructure to provide potable water to their growing populations. This rising focus on water treatment development is creating high demand for specialized chemicals like ferrous sulfate and driving the market growth.

Segment Analysis
Ferrous sulfate has two primary end-use segments - agricultural and industrial. The agricultural segment currently dominates the market and accounts for over 60% share, driven by ferrous sulfate's usage as an iron supplement for plants and livestock. It is widely used as a fertilizer in the cultivation of crops to treat iron deficiencies. Within this segment, cereals and grains is the largest sub-segment owing to high demand for ferrous sulfate from wheat, rice and corn farmers.

Key Takeaways
The global Ferrous Sulfate Market Analysis is expected to witness high over the forecast period of 2023 to 2030. It is projected to increase from a market size of US$ 1015.83 Mn in 2023 to US$ 1379.42 Mn by 2030, registering a CAGR of 3.9%.

Regional analysis
Asia Pacific currently holds the leading share of over 35% of the global ferrous sulfate market. This can be primarily attributed to the large-scale agricultural activities and increasing demand for fertilizers from countries such as China, India and Japan. The region is expected to remain the fastest growing market during the forecast period due to growth in the agricultural sector and rising population.

Key players
Key players operating in the ferrous sulfate market are Crown Technology, Inc., Venator Materials PLC, Verdesian Life Sciences, LLC, Rech Chemical Co. Ltd., Coogee Chemicals Pty Ltd., Chemland Group, Hong Yield Chemical Industrial Co., Ltd., Changsha Haolin Chemicals Co., Ltd. Crown Technology, Inc. and Venator Materials PLC contribute over 20% to the global market share.S

Comments

Post a Comment

Popular posts from this blog

The Plastic Bandages Market Is Anticipated To Witness High Growth Owing To Increased Demand For Cost-Effective Wound Care Solutions

Image
Plastic Bandages Market The plastic bandages market comprises flexible plastic strips coated with adhesive on one side, used to cover minor wounds, injuries, or irritation on the skin such as cuts, scrapes, burns, and blisters. Plastic bandages provide an effective and affordable wound care solution by protecting the wound from external contamination, further injury and trauma. They maintain a moist environment around the wound to accelerate the healing process. In comparison to traditional cloth or gauze bandages, plastic ones provide improved durability, flexibility, permeability to air and moisture. The global plastic bandages market is estimated to be valued at US$ 11.14 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2030. Key Takeaways Key players operating in the plastic bandages market are Johnson & Johnson, BSN Medical, 3M, Acelity L.P. Inc., Medline Industries Inc., ConvaTec Inc., Lohmann & Rauscher GmbH & Co. KG, Nitto...
Read more

Cannabis Extract Market Is Expected To Poised For Growth Due To Wide Range Of Medical Applications And Health Benefits

Image
  Cannabis Extract Market The Cannabis Extract Market is a fast-growing industry focused on processing and extracting medical compounds and oils from cannabis plants. Cannabis extracts offer advantages over dried plants, including consistent dosing and easy consumption. Cannabis extracts contain cannabinoids like CBD and THC that are used to treat conditions such as chronic pain, epilepsy, insomnia, and anxiety. The global Cannabis Extract Market is estimated to be valued at US$ 10,704.56 million in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Key Trends: Growth Accelerated by Rising Adoption of Cannabis Extracts The key trend driving growth in the Cannabis Extract Market is the rising adoption of cannabis extracts over dried plants. Cannabis extracts allow for precise and consistent dosing through easy-to-use formats like oils, edibles, and topicals. Extract...
Read more

India Geriatric Care Services Market Growth Accelerated By Expanding Elderly Population

Image
India Geriatric Care Services Market Geriatric care services help improve the health and quality of life of the elderly population. They provide care ranging from assistance with daily activities to complete personal and medical care. The services are highly essential for the growing elderly population who may need help due to the impact of age-related medical conditions or disabilities. The global India Geriatric Care Services Market is estimated to be valued at   US$ 29.42 Bn in 2023   and is expected to exhibit a   CAGR of 6.4%   over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expanding elderly population is the primary driver boosting the growth of India's geriatric care services market. As per United Nations Population Fund (UNFPA), the population aged 60 years and above in India is projected to increase from 103 million in 2011 to 316 million by 2050. The rising senior population c...
Read more