Global Iron (Ferrous Sulfate) Market Size By Form (Granule or Powder, Liquid), By Type (Ferrous Sulfate Heptahydrate, Ferrous Sulfate Monohydrate), By Application (Construction, Water Treatment), By Geographic Scope And Forecast
Global Iron (Ferrous Sulfate) Market Size By Form (Granule or Powder, Liquid), By Type (Ferrous Sulfate Heptahydrate, Ferrous Sulfate Monohydrate), By Application (Construction, Water Treatment), By Geographic Scope And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Iron (Ferrous Sulfate) Market size was valued at USD 818.2 Million in 2021 and is estimated to reach USD 1,064.1 Million by 2030, registering a CAGR of 3.09% from 2022 to 2030.
The market is estimated to grow mainly because of the expanding demand for cement in the construction industry, which is mainly driven by the rising urbanization, especially in the Asia Pacific. The Global Iron (Ferrous Sulfate) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Iron (Ferrous Sulfate) Market Definition
Ferrous sulfate, or FeSO4.xH2O as it's known chemically, is a mineral with a lot of uses! You'll find it in things like pharmaceuticals, animal feed, and even water treatment and construction. It usually comes as a hydrated salt, looking like a greenish or yellow-brown crystalline solid. The most common form? That's the heptahydrate. Interestingly, ferrous sulfate is often a byproduct. It forms during the finishing of steel before plating or coating, when the steel sheet is cleaned in sulfuric acid pickling baths. It can also pop up when titanium oxide is made from ilmenite using the sulfate process.
Think of ferrous sulfate as a helpful boost to keep your iron levels where they should be. Iron is a really important mineral – you need it to make red blood cells! Your body uses iron to create hemoglobin and myoglobin, which are proteins in your red blood cells that carry and store oxygen. If your iron gets too low, your body can't produce enough healthy red blood cells, and that can lead to iron deficiency anemia (basically, an iron shortage). So, making sure you get enough iron, often through diet, is key to feeling your best. This medication is essentially an iron supplement, working to either prevent or treat low iron levels. Taking ferrous sulfate is an easy way to help get your iron back on track! If you're low on iron, your doctor might prescribe it. But you can also often find these supplements over-the-counter (OTC). Ferrous sulfate typically comes as tablets or as drops that you swallow.
Global Iron (Ferrous Sulfate) Market Overview
The market is estimated to grow mainly because of the expanding demand for cement for the construction industry, which is mainly driven by the rising urbanization, especially in the Asia Pacific.
So, ferrous sulfate is mostly used in construction, specifically when making cement. Why? Well, it helps to reduce chromium in the mix. You see, the raw materials they use often contain water-soluble chromate (Cr6+), which isn't good for you – it can cause allergic reactions and other problems. To make cement safer, they need to get those chromate levels down to something harmless. Ever since the European Union passed Directive 2003/53/EC in 2005, limiting Cr6+ in cement to just 2 parts per million (ppm) dry weight, the need for additives that reduce chromate has really taken off. Ferrous sulfate has become a go-to additive for this, bringing the chromate down to the required level and making it a big player in the construction industry.
Wastewater management is another sector where ferrous sulfate is extensively used as a primary coagulant. The wastewater treatment sector is observing phenomenal growth from its industrial application in paper, mining, chemical, food & beverage production to municipal and agriculture treatment. Asia Pacific is expected to grow on account of its expanding wastewater treatment facilities to continue its economic growth, especially for India and China in a more sustainable way, thereby, indicating a rising demand for coagulants such as ferrous sulfate across the estimated period.
Global Iron (Ferrous Sulfate) MarketSegmentation Analysis
The Global Iron (Ferrous Sulfate) Market is segmented on the basis of Form, Type, Application, and Geography.
Iron (Ferrous Sulfate) Market, By Form
• Granule or Powder• Liquid• Others
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So, these granules? They usually come in shades of gray or brown. They're super easy to dissolve in water and just love soaking up moisture from the air. You can use them as ingredients in fertilizers, or even as fertilizer itself! Interestingly, they can also be added to cement as a chemical reagent to help prevent that nasty chrome dermatitis you can get from handling cement. Now, get thisFerrous Sulfate Dried Powder can also be used as a dietary ingredient, which is pretty cool. It's a great source of nutrients too! Iron's really important because it teams up with protein and copper to make hemoglobin, which is vital for carrying oxygen in your blood. Plus, iron can help fight off fatigue and even give you a healthy skin tone! Oh, and one more thing – the powder can act as a reducing agent for some kinds of indigo vats.
In the water treatment industry, ferrous sulfate heptahydrate is used in water treatment plants to enhance coagulation and phosphorus removal. Ferrous Sulfate Heptahydrate is a rich source of iron in pigment production. It is primarily used to produce red, yellow, and black iron oxide pigments since it is water-soluble and easy to handle. Cement manufacturers also use ferrous sulfate heptahydrate, which has the potential to reduce chromium levels, which helps in enhancing the market growth.
Iron (Ferrous Sulfate) Market, By Application
• Construction• Water Treatment• Pigments• Pharmaceutical• Animal Feed• Others
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In the construction segment, iron sulfate (ferrous sulfate) is added to cement to reduce the chromate. Iron sulfate is added to cement to reduce the chromate content. when in close contact with skin, like floor laying, floor repairs, and hand-made casting, the chromate content in cement results in rashness, allergies, and other possible diseases. Cement manufacturers also use ferrous sulfate heptahydrate-using that power to lower harnessing chromium levels is some of the factors which help in increasing the iron (ferrous sulfate) market.
Iron (Ferrous Sulfate) Market, By Geography
• North America• Europe• Asia Pacific• Latin America• Middle East and Africa
The ferrous sulfate market is expected to observe immense growth in the Asia Pacific on account of factors such as the presence of anemic patients among low-Income countries, expanding chemical and pigment usage in the construction industry, and rising wastewater treatment projects aligned with an increasing demand for quality animal feed among others. The Asia Pacific has a host of high, middle- and low-income countries with a varying socio-economic spectrum. Some of the major middle- and low-income countries are showing a positive trend toward developing economies, and basic public healthcare issues.
Key Players
The major players in the 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., and PJSC Sumykhimprom.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2018-2030
BASE YEAR
2021
FORECAST PERIOD
2022-2030
HISTORICAL PERIOD
2018-2020
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Crown Technology Inc., Venator Materials PLC, Verdesian Life Sciences LLC, Rech Chemical Co. Ltd., Coogee Chemicals Pty Ltd, & Others
SEGMENTS COVERED
Form, Type, Application, and Geography.
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We take a close look at the market using both qualitative and quantitative analysis, diving into different segments based on economic and non-economic stuff. You'll get the market value (in USD Billion) for each segment and its sub-segments, too. We'll point out which region and segment are expected to grow the fastest and really take over. Expect a breakdown by geography, showing where the product/service is being used and what's influencing the market in each area. Plus, we’ll cover the competitive scene, ranking the big players and highlighting new stuff they're launching, partnerships, expansions, and acquisitions from the last five years. You'll also get detailed company profiles with overviews, insights, benchmarking, and SWOT analysis for the main players. We give you the current and future scoop on the industry, including growth opportunities, what's driving it, and the challenges in both new and established regions. We even dig deep with Porter’s five forces analysis and give you a peek into the Value Chain. Lastly, we’ll explore the market dynamics and upcoming growth opportunities and even offer 6 months of analyst support after you buy.
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