Ferric Sulfate Market Size Forecast to Reach $500 Million by 2025

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Ferric Sulfate Market size is forecast to reach $500 million by 2025, after growing at a CAGR of 5% during 2020-2025. Ferric sulfate is a toxic, non-flammable yellow crystalline solid that is soluble in water. Growing uses of ferric sulfate as a coagulant in the removal of contaminants from wastewater to aid in co-precipitation is driving the growth of ferric sulfate market size. Moreover, Ferric Sulfate is also used in the manufacture of pigments and in pickling baths for aluminum and steel. Accelerating demand of ferric sulfate from textile industries for dyeing and calico printing is also augmenting the growth of the Ferric Sulfate market share. Ferric sulfate is a key raw material to process double distilled water. Use of double distilled water in semiconductors is also anticipated to fuel the ferric sulfate market during the forecast period.

Ferric Sulfate Market Segment Analysis Segment Analysis – By Oxidizing Agent Type

Hydrogen Peroxide segment has shown highest CAGR of 7% in the ferric sulfate market during the forecast period owing to the high oxidative power of hydrogen peroxide and its environmentally attractive properties. Ferric sulfate is produced on a large scale by treating sulfuric acid, a hot solution of ferrous sulfate, and an oxidizing agent. Oxidation of ferrous sulfate solution containing sulfuric acid occur in two steps, first with oxygen and then with hydrogen peroxide, to form a ferric sulfate solution. Increasing use of hydrogen peroxide as water disinfection is further fueling the growth of the market.

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Ferric Sulfate Market Segment Analysis – By Grade

Based on the grade, reagent grade segment holds the largest share of more than 35% in the ferrite sulfate market. Ferric sulfate of reagent grades are acceptable for medicinal purposes and is suitable for use in many laboratory and analytical applications. However, technical grade ferrite sulfate is not pure enough and contain impurities. Ferric sulfate is widely used as a pulpotomy medicament to control pulpal bleeding, as a hemostatic reagent for restorative dentistry, for post extraction hemorrhage and for per radicular and endodontic surgery. Main function of ferric sulfate is as a hemostatic agent in various medical practices. When ferric sulfate is directly applied on the damaged tissue it forms ferric ion-protein complex which helps in sealing of the damaged vessels. Thus, various applications of ferric sulfate in healthcare is raising the demand for reagent grade ferric sulfate.

Ferric Sulfate Market Segment Analysis – By Application

Coagulant segment holds the largest share of more than 25% in the ferric sulfate market in 2019. The use of ferric sulfate as a coagulant offer various advantages in removal of fine particles that are very difficult to remove. Ferric sulfates are usually preferred to ferric chloride because introduction of chlorine ions increases the corrosivity of water. Ferric sulfate, suppresses the zeta potential of the colloidal system to a lower value, so that the colloidal particles will collide and then amalgamate under the influence of slow stirring. Thus, surging use of ferric sulfate for the treatment of industrial wastes is boosting the growth of the market.

Ferric Sulfate Market Segment Analysis – By End Use Industry

Textile segment holds the largest share of more than 25% in the ferric sulfate market. In textile industries ferric sulfate is extensively used as mordant or dye fixative in textile dyeing and calico printing. Ferric sulfate is also used as a coagulant for the treatment of textile wastewater. Increase in demand for apparel and expansion of textile industries across the country is also aiding the growth of the market. According to Indian Brand Equity Foundation (IBEF), India’s textile and apparel exports accounted for US$ 38.70 billion in 2019 and is expected to increase to US$ 82.00 billion by 2021, subsequently augmenting the demand of ferric sulfate for dying and printing purposes.

Ferric Sulfate Market Segment Analysis – Geography

Among the regions, Asia Pacific dominated the ferric sulfate market with a share of more than 40% in 2019, owing to rapid industrialization and treatment of wastewater generated from manufacturing plants. Asia is one of the largest producers of paper and increase in demand of ferric sulfate as a coagulant from paper industries is boosting the growth of market. According to the Trade Map, global import of pulp of wood and cellulose fibers was valued around $ 53,084,971, while china alone imported pulp of $19,240,368 in 2019. Ferric sulfate is also used in herbicide, molluscicide, and other agricultural product constituent. Rapid population growth in nations like China and India results an increase in food demand, significantly raising the demand of ferric sulfate to boost the agricultural output.

Ferric Sulfate Market Drivers

Increasing health concerns and stringent government regulations

Stringent government regulations for the disposal of contaminated water is escalating the use of ferric sulfate in manufacturing industries. For instance, the United States Environmental Protection Agency (EPA) regulates the discharge and treatment of wastewater under the Clean Water Act (CWA). The National Pollutant Discharge Elimination System (NPDES) issues permits to all wastewater dischargers and treatment facilities. In addition, contaminated water also causes severe health problems including diarrhea, cholera, dysentery etc. Thus, increasing health concerns also boosts the growth of ferric sulfate market. Moreover, the Indian government policies such as “State Sewerage and Waste Water Policy” which frames guidelines for resource development and management, wastewater collection and treatment, onsite and offsite sanitation may also aid the growth of ferric sulfate market.

Surging demand of ferric sulfate from metal forming industries

Ferric sulfates are used in pickling baths for aluminum and steel. As pickling remove impurities, such as stains, inorganic contaminants, and rust or scale. Thus, ferric sulfates are widely used for enhancing the properties of aluminum and steel. Whereas, surging construction activities and developing transportation further propel the growth of metal forming industry, which in turn drive the demand for ferric sulfate. According to Institution of Civil Engineers (ICE), construction output will grow by 85% to $15.5 trillion worldwide by 2030, further augmenting the demand of ferric sulfate for pickling process.

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Ferric Sulfate Market Challenges

Volatile raw material prices and presence of substitutes for wastewater treatment

The adoption of the U.V technologies and RO water filtration whose purification efficiency is higher than ferric sulfate hampers the growth of ferric sulfate market. The U.V and RO filters not only eliminates the suspended particles but also remove the harmful bacteria and pathogens. Although ferric sulfates are widely used in industries for effluent water treatment processes in solid removal, water clarification, lime softening, sludge thickening, and solids dewatering, but the cost of raw material and the need for accurate dosing of ferric sulfate and frequent monitoring is a major challenge. For instance, in October 2019, Arkema has raised the price for its hydrogen peroxide range by $ 33.65/DMT to cover increasing electricity and labor costs. Whereas, Solvay raised the prices in September 2018 by $155 per dry metric ton in Europe for all hydrogen peroxide grades and derivatives.

Emergence of COVID-19

The outbreak of COVID-19 has slowed the growth of ferric sulfate market. Lack of manpower has led many manufacturing companies to stop their production which further results in their downfall. Electronic, metal forming, and textile industries are facing huge losses. Ferric sulfate is used in processing of double distilled water, which is widely used in semiconductor industry. Decrease in purchasing capital lowered the sales of electronic equipment. According to the Indian Cellular & Electronic Association of India, the shutdown would lead to a lack of $1,309.2 Mn to $1,963.8 Mn in 2020, which in turn hampered the growth of the ferric sulfate market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the ferric sulfate market report. In 2019, the market of ferric sulfate has been consolidated by the top 10 companies accounting for xx% of the share. Major players in the ferric sulfate market are Pennco, Inc., Altivia Chemicals LLC, Kemira Oyj, Hunan Yide Chemical Co., Ltd., Hawkins, Inc., Sigma-Aldrich, The Chemical Company, Thermo Fisher Scientific Inc., Beijin Ouhe Technology Co Ltd., and Adamas Reagent, Ltd., among others.

Acquisitions/Technology Launches

In October 2019, Kemira Oyj has expanded its ferric sulfate water treatment chemicals production line in Goole, UK. This further help the company to meet the growing demand for coagulants used in water treatment, driven by stricter regulation regarding like phosphorus removal.

Key Takeaways

Increasing adoption of UV technologies and RO filtration hinder the use of ferric sulfate for wastewater treatment.

In addition, Chinese government ambitious “Made in China 2025” plan to achieve independence from foreign supply for semiconductors and integrated circuits is likely to boost the growth of ferric sulfate market.

Decline in manufacturing activities globally due to the outbreak of coronavirus has hampered the growth of ferric sulfate market.

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https://www.industryarc.com/Research/Nitric-Acid-Market-Research-510900

B. Dimethyl Sulfate Market

https://www.industryarc.com/Report/16025/dimethyl-sulfate-market.html

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Contact Information:

Venkat Reddy
Sales Director
Email: [email protected]
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

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