Ferrous Sulfate Market
Ferrous Sulfate Market Study by Food Grade and Technical Grade for Agriculture, Water Treatment, Pigments, and Cement from 2023 to 2033
Analysis of Ferrous Sulfate Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Ferrous Sulfate Market Growth Outlook (2023 to 2033)
The global ferrous sulfate market is estimated to be valued at US$ 2.5 billion in 2023 and it is projected to grow at a CAGR of 2.9% to reach US$ 3.3 billion by the end of 2033.
Ferrous sulfate is an iron salt produced as a co-product during the manufacture of titanium dioxide (TiO2) by sulfate process. Ferrous sulfate is widely used in various industries like agriculture, construction, animal feedstock etc.
Ferrous sulfate is used in fertilizers to meet the iron requirement in plants. Ferrous sulfate being highly used as an additive in poultry and cattle feed, enhances the mineral content of the feed. It also stimulates the growth of animals and acts as a blood tonic substance for livestock. Being rich in iron content, ferrous sulfate reduces the risk of iron deficiency in animals. Being a source of iron, ferrous sulfate is authorized in European Union as a nutritional additive.
Report Attributes |
Details |
Market Size (2022A) |
US$ 2.4 Billion |
Estimated Market Value (2023E) |
US$ 2.5 Billion |
Forecasted Market Value (2033F) |
US$ 3.3 Billion |
Global Market Growth Rate (2023-2033) |
~2.9% CAGR |
North America Market Share (2023) |
~3.1% |
US Market Growth Rate (2023-2033) |
~3.2% CAGR |
Key Companies Profiled |
|
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Historic and Future Pathway Analysis for the Ferrous Sulfate Market
According to Fact.MR, historically, from 2018 to 2022, consumption of Ferrous Sulfate increased at a CAGR of 1.8%, where North America and Asia pacific held a significant share in the overall global market for ferrous sulfate.
The global ferrous sulfate market has developed significantly in recent years due to increase in number of construction activities across the globe. With the growing investments in the construction sector by government for the industrial and urban infrastructural development, there has been exponential increase in demand for cement. Ferrous sulfate is used as reducing agent in making of cement. Leading producers of ferrous sulfate are focused on thoroughly testing new production techniques to target emerging markets and take advantage of burgeoning demand.
- Short Term (2023-2026): Growing use of ferrous sulfate heptahydrate in agriculture industry will drive the market in short term.
- Medium Term (2026-2029): Government stringent policies for waste water treatment will lead to higher demand for ferrous sulfate in medium term. Ferrous sulfate is used as coagulant in treating waste water.
- Long Term (2029-2033): Rising investments by manufacturers in research and development activities will result in development of high quality and effective products which will drive the market in long run.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 2.9% CAGR between 2023 and 2033.
“Growing demand for ferrous sulfate in the water treatment sector”
Governments are making strict policies regarding industrial wastewater treatment before it is being released in environment. These regulations will lead to increase in demand for ferrous sulfate as it is highly used in treating wastewater. According to China's Ministry of Ecology and Environment and the General Administration of Quality Supervision, Inspection and Quarantine, 2018, the pH of sewage discharged from the outlet of a ship's sewage treatment plant should be between 6 and 8.5, and the content of suspended solids should be low than 35 mg/L. Ferrous sulfate is used to remove the suspended / waste contents from water.
Pertaining to above mentioned factors, demand for ferrous sulphate is set to grow at a CAGR of 2.9% during the forecast period.
“Production Dependency & easy availability of alternatives to Deter Market Growth”
The production of ferrous sulfate mainly relies on the steel pickling process and the production of titanium dioxide pigment. Therefore, fluctuations in these two markets may adversely affect ferrous sulfate production. Instability in ferrous sulfate production due to increased reliance on these processes could impact market growth prospects.
Ferrous sulfate can be easily replaced with ferric chloride for using in wastewater treatment. These alternatives, unlike ferrous sulfate, are very economic and readily available in the market. The consumer tendency to adopt these alternatives will hamper the market growth during the forecast period.
Country-wise Insights
Why demand from China is leading the market for ferrous sulfate?
China is expected to dominate the regional market during the forecast period due to the booming pharmaceutical industry. This is due to key factors such as government initiatives to boost the sector, low labor costs in developing countries, and abundant availability of raw materials. Several companies are also slowly moving to Asia-Pacific countries, including China, due to multiple factors driving ease of operation.
The APAC region's dominance is attributed to the continued growth of the pharmaceutical sector, high reliance on agriculture, and growing awareness of the importance of nutraceuticals in supporting the expansion of the sector in the region.
What factors are driving growth in U.S. ferrous sulfate market?
Because of high demand for iron deficiency medicines and the continuously growing liquid ferrous sulfate industry, US is experiencing the speedily growing ferrous sulfate industry. In recent years, the use of ferrous sulfate in animal feed has also increased. Easy availability of raw materials, low labor costs, and a booming manufacturing industry are some of the other factors driving the growth of the U.S. ferrous sulfate market.
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Category-wise Insights
How Demand for Compound Fertilizers Influencing Sales of Ferrous Sulfate in Agriculture Industry?
As the backbone of any economy, agriculture sector is growing steadily around the world. Maximizing chemical fertilizer yields is essential to meet growing demand for agricultural products. There is an increase in the use of ferrous sulfate as the main component of compound fertilizers that promote plant development and growth and promote photosynthesis. In addition, ferrous sulfate in compound fertilizers also reduces soil alkalinity, improves soil fertility and prevents chlorosis.
Ferrous sulfate used in compound fertilizers also maximizes absorption of other important nutrients such as phosphorus and nitrogen. This factor continues to influence the global demand for ferrous sulfate, contributing to the marginal growth of the market.
What are the factors driving demand for technical grade ferrous sulfate?
The technical grade segment market share is attributed to a wide range of applications. Demand from industrial, healthcare, and agribusiness applications are majorly contributing to the market share of this segment. Technical grade iron sulphate is typically used in industries requiring high purity chemicals, such as medical applications.
Technical grade segment is forecasted to hold the significant share of 54.3% in 2023 out of total global ferrous sulfate demand. It is projected to grow at a CAGR of 3.4% during the forecast period 2023-2033.
Eminent Players Key Stratagems
Prominent Ferrous Sulfate manufacturers are Coogee Chemicals Pty Ltd, KRONOS Worldwide Inc., Crown Technology, Inc., Verdesian Life Sciences LLC, Rishi Chemical Works Pvt. Ltd., Gokay Group, Rech Chemical Co. Ltd., Venator Materials PLC., Guangxi Jintao Titanium Co.Ltd., Chemland Group etc.
The rising focus of governments in various countries on wastewater treatment is also supporting the growth of the industry. The continued focus on expansion by players in the wastewater treatment industry had positive impact on the overall growth of the sector.
Companies are adopting mergers and acquisitions strategies in order to increase their profits and market share. For instance, USALCO, a leading manufacturer of high quality water treatment and industrial chemicals, announced the acquisition of ALTIVIA's water treatment business. USALCO is a leading supplier of high quality specialty chemicals for wastewater treatment and other industrial applications in the United States.
Fact.MR has provided detailed information about the price points of key manufacturers of ferrous sulfate positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Ferrous Sulfate Industry Research
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By Type :
- Monohydrate
- Heptahydrate
-
By Grade :
- Food Grade
- Technical Grade
-
By Application :
- Water Treatment
- Agriculture
- Pigment
- Cement
- Animal Feedstock
- Others
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
What is the Global Ferrous Sulfate Market Size?
The global Ferrous Sulfate market is estimated to be valued at US$ 2.5 billion in 2023.
What is the projected CAGR for ferrous sulfate market for 2023-2033?
The global ferrous sulfate market is expected to grow at a CAGR of 2.9% during the forecast period.
Which regional Ferrous Sulfate Market Accounts for a Leading Market Share?
North America in the global Ferrous Sulfate market is anticipated to account for 31.2% market share in 2023.
What was the Global Ferrous Sulfate Market Size in 2022?
The global ferrous sulfate market is valued at US$ 2.4 billion in 2022.