Ferrous Sulfate Market Demands and Growth Prediction 2018 to 2025
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Ferrous sulphate market is mainly driven by the rising population, especially in the Asia-Pacific region where the emerging economies such as China, India, and Brazil registering a rapidly growing GDP and population. Ferrous sulphate is widely used in different applications such as water treatment, animal feed, fertilizer, body supplements, and other industrial applications. The major share of market is contributed by the water treatment application industry where it is used as a reducing agent in the treatment of the hazardous wastes, and as a coagulant and flocculent in the treatment of sewage waste, industrial effluents, raw drinking water and other wastewater sources. It is also used for removal of phosphates and odor resulted from hydrogen sulfide in various waste sources. Animal feed application accounts for the next largest share in the global ferrous sulphate market. Changing lifestyles and hectic schedules of the global population has resulted into iron deficiencies which in turn drives growth of adoption of ferrous sulphate in dietary supplements. Ferrous sulphate is used as feed supplement to prevent anemia caused by iron deficiencies in the diets of animals such as swine, poultry, equines, and others. It is also used in significantly used to correct chlorosis or deficiencies in soils and plants. It is eliminates moss, reduces alkalinity, and micronutrient from the fertilizers. The rapidly increase in the fertilizer market across the world is driving growth of the ferrous sulphate market. Demand for fertilizers is the largest in the Asia-Pacific region coupled with the rising population and agriculture being the key source of income in many countries is another factor fueling the market for ferrous sulphate in the region. The key manufacturers are focusing on capturing the market share in the Asia-Pacific region. These companies are establishing their operations in this region or focusing on inorganic growth by acquiring or signing agreements with the local players in the region to cater to the local demand for ferrous sulphate. The abundant availability of raw materials, low cost labor, and increasing global & local manufacturers are also the factors anticipating the growth of the ferrous sulphate market across the world.
The global ferrous sulphate market is highly fragmented due to the presence of many established and local players across the world. Major players involved in the market include Rech Chemicals Co. Ltd, Hong Yield Chemical Industrial Co. Ltd, Changsha Haolin Chemical Co. Ltd, MMC Resources Inc., Shaoyang Shenzhou Chemical Industry Co. Ltd, Reactivos Mineros SAC, Cleveland Industries, Zouping County Runzi Chemicals Co. Ltd, and Gokay Mining and Chemicals.
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