Ferrous Sulfate Market: Introduction
In terms of
value, the global ferrous sulfate market is
anticipated to expand at a CAGR of 3% from 2019 to 2027 and
reach ~US$
4 Bn by 2027. Asia
Pacific dominated the global ferrous sulfate market in terms of volume in 2018. It
is estimated to be the leading region of the global ferrous sulfate market
during the forecast period. Various companies engaged in wastewater treatment
are focusing on expanding their business in Asia Pacific. For instance, in February
2018, Suez SA, a France-based water treatment company,
announced plans to start a drinking water production plant in Indonesia. This
is anticipated to drive the ferrous sulfate market in Asia Pacific.
Ferrous Sulfate Market: Key Drivers
and Restraints
Increase in
usage of ferrous sulfate to treat anemia is anticipated to boost the ferrous
sulfate market during the forecast period. Iron deficiency occurs when the
required amount of iron decreases to low levels and the amount is not
sufficient to support normal RBC production. According to the World Health
Organization (WHO), in 2017, 42% of
children aged less than five years and 40% of pregnant women worldwide were
anemic. Ferrous sulfate is employed to treat and prevent anemia. It replenishes
iron. It helps in oxygen transport and storage, electron transport, energy
metabolism, and provides beneficial pro-oxidant functions.
Request PDF brochure
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=64365
Rise in
cases of anemia has led to initiation of iron fortification programs in various
parts of the globe. For instance, more than 20 countries in Latin America have
implemented mass iron fortification programs. Most of these involve the
fortification of wheat or maize flours. Countries in Latin America are using
ferrous sulfate as a fortificant for most of their food. Increase in usage of
ferrous sulfate in the cement industry is expected to create lucrative opportunities
for the ferrous sulfate market in the near future. Ferrous sulfate is primarily
used as a reducing agent in the cement industry in order to reduce chromium VI
to chromium III, as chromium is known to cause dermatitis (also known as cement
itch).
Moreover,
rise in construction activities is anticipated to boost the demand for cement,
thereby augmenting the demand for ferrous sulfate. According to the U.S. Census
Bureau, the U.S. Government spent US$ 1,369.2 Bn in
overall construction activities in January 2020,
exhibiting a 1.8% increase
from US$
1,345.5 Bn in December 2019. Ferrous
sulfate carries various side effects. As a result, various alternatives of
ferrous sulfate are being employed across the world. Carbonyl iron is used as a
substitute for ferrous sulfate. It is highly recommended for children and
women, as it has a slower release of iron. Besides carbonyl iron, ferrous
fumarate and ferrous gluconate are used as alternatives for ferrous sulfate.
Thus, emergence of such alternative is likely to lead to a change in
preferences of customers. This is projected to hamper the global ferrous
sulfate market during the forecast period.
More Trending Reports
Ferrous Sulfate Market: Key
Business Strategies
In October
2019, Kemira won the European Responsible Care Award for a
project, which helped convert unutilized by-products into valuable raw
materials. The company mined a landfill that contained several tons of ferrous
sulfate raw material, putting almost 30 years of accumulated industrial
by-products back into use in the circular economy. The company gained
recognition in the market with this award. In April 2019, Venator
Materials PLC acquired Tronox’s titanium dioxide (TiO2) paper laminates
business. The company invested approximately US$ 8.9 Mn in
the acquisition. Ferrous sulfate is a by-product of titanium dioxide. The
acquisition is likely to help the company meet the increasing demand for
ferrous sulfate among customers.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=64365<ype=S
Competition Landscape of Ferrous
Sulfate Market
Major
players operating in the global ferrous sulfate market include Venator
Materials PLC; Kemira; KRONOS Worldwide, Inc.; CINKARNA Celje d.d.; Gökay
Group; Crown Technology, Inc.; and Verdesian Life Sciences
Request
Discount
https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=64365
About Us
Transparency Market Research is a global market intelligence
company, providing global business information reports and services. Our
exclusive blend of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. Our experienced team
of Analysts, Researchers, and Consultants, use proprietary data sources and
various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a
team of research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability, Transparency Market
Research employs rigorous primary and secondary research techniques in
developing distinctive data sets and research material for business reports.
Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Comments
Post a Comment