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Global Ferrous Sulfate Monohydrate Market InsightApril 29, 2022 Comments
According to the WK-chem Research “Global Ferrous Sulfate Monohydrate Professional Survey Report 2022, Forecast to 2027”, An increase in Iron Deficiency worldwide, an increase in the steps like Water Treatment, Dietary supplements, etc., and the increase in the manufacture of ferrous products by pharmaceutical companies are expected to fuel the growth of the global Ferrous Sulfate Market. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 3.1% base on WK-chem Research regression analysis model.
“Due to the increase in iron deficiency worldwide, pharmaceutical companies are accelerating the development of iron supplements. Different ways like intravenous iron transfusion through blood, oral iron tablets, etc. are gaining popularity. These methods are easily accessible, low cost, and can be easily administered. Another important benefit of iron salts is their low morbidity and quick absorption capacity. The rise in the demand for iron supplements is boosting the market.” said Jack Miller, Senior analyst, Chemical & Material Market Research Center in WK-chem Research.
The main objective behind the initiation of the iron fortification program is to increase the mineral content in food items to prevent and control iron deficiency. The strategy of the fortification of foods with iron is the strategy that has been advocated by the World Health Organization (W.H.O). Iron fortification programs have been initiated in various parts of the world due to increasing cases of anemia. Several countries in Latin America have implemented these fortifications programs to increase the use of ferrous sulfate as fortification in most of their food. It involves the fortification of staple foods with iron. These factors have led to the growth of the ferrous sulfate market. These aspects have created lucrative opportunities for the key players in the ferrous sulfate market. Rapid urbanization and fast-paced life have led to various deficiencies such as iron deficiency among the growing population. Thus, the demand for iron supplements has increased. Oral iron supplements are preferred by consumers due to their easier availability at lower costs. Ferrous sulfate. All these factors have registered a substantial growth of the ferrous sulfate market. The growing rural-to-urban migration, underpinned by a rapid pace of industrialization, is gaining traction in various regions across the globe. The trend is catalyzing the rise of the construction industry. Ferrous sulfate forms a major constituent of cement which is used in construction activities. This aspect, in turn, is eventually increasing the growth rate of the ferrous sulfate market as these products are used largely in construction activities. The construction sector is gaining substantial momentum across the globe. In addition, the government bodies in densely populated countries such as India and China are promoting industrialization and are encouraging smart city initiatives. These initiatives are expected to have a positive impact on the ferrous sulfate market.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Ferrous Sulfate Monohydrate companies that include 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., and PJSC Sumykhimprom, Kemira, KRONOS Worldwide, Inc., CINKARNA Celje d.d., Gökay Group and Others.
Segmentation of Ferrous Sulfate Monohydrate Market:
Based on Product Type, the market is segmented into Ferrous Sulfate Heptahydrate, Ferrous Sulfate Monohydrate, Ferrous Sulfate Tetrahydrate, Ferrous Sulfate Anhydrous, and Others. Among the segments, Ferrous Sulfate Heptahydrate has the highest share. This is because Ferrous Sulfate Heptahydrate is the chief source of the treatment of Anemia. The market share held by this segment is attributed to the easy availability of the compound as the heptahydrate and its wide arena of application like medically it finds application as blood tonic, in animal feed it is used as iron fortifier for feed additive, and in nutritional supplements, it is used as iron fortifier which contributes to the market share held by this segment.
Based on End-Use, the market is segmented into Pharmaceuticals, Water Treatment, Pigments, Construction, Animal Feed and Others. Among the segments, water treatment is the extensively used one. This is because of the wide-scale water treatment specifically wastewater management. Waste Water is used in agriculture after recycling in multiple ways. This method is used in Latin American Countries like Mexico, Peru, and Brazil. This project is driving the demand for Ferrous Sulphate. The ease of handling this compound and water-solubility makes it an ideal choice for iron oxide pigment, contributing to the market share held by this segment.
Ferrous Sulfate Monohydrate Market: Regional Analysis
In terms of geography, the global Ferrous Sulfate Monohydrate market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia-Pacific has the highest market. This is because China is the biggest market for Ferrous Sulphate. Also, the Indian market significantly contributed to the growth of this segment. This is mainly due to the huge population density in these countries. The market share held by the region is attributed to the expanding healthcare & pharmaceutical industry, continuously increasing demand for iron (II) sulfate for water treatment, which is supporting the expansion of the sector in this region.
Largest share area：Asia Pacific
largest share country：China
Product Type：Ferrous Sulfate Heptahydrate, Ferrous Sulfate Monohydrate, Ferrous Sulfate Tetrahydrate, Ferrous Sulfate Anhydrous, and Others
Application：Pharmaceuticals, Water Treatment, Pigments, Construction, Animal Feed and Others
Leading Company：Crown Technology Inc., Venator Materials PLC, Verdesian Life Sciences LLC, Rech Chemical Co. Ltd., Coogee Chemicals Pty Ltd.