Ferric Hydroxide Market Size to Surpass US$ 1 Bn mark by 2029 end | Persistence Market Research

Ferric Hydroxide Market

Projected to reach the US$ 1 Bn mark by 2029 end, the global ferric hydroxide market is set for healthy progress at a CAGR of 5% during 2019 - 2029.

Ferric hydroxide, also known as iron hydroxide, is a chemical compound with the formula Fe(OH)3. It is commonly used as a flocculating agent in the water treatment industry, as well as in the production of pigments and other chemicals. The global ferric hydroxide market is expected to grow significantly in the next few years, driven by the increasing demand for water treatment chemicals and the growing construction industry.

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Market Drivers:

• Growing demand for water treatment chemicals: Ferric hydroxide is widely used as a flocculating agent in the water treatment industry, which is expected to drive the demand for ferric hydroxide. The growing demand for clean water, especially in developing countries, is expected to further drive the demand for water treatment chemicals, including ferric hydroxide.

• Increase in construction activities: The growth in construction activities, especially in developing countries, is expected to drive the demand for ferric hydroxide. Ferric hydroxide is used in the production of cement and concrete, which are widely used in the construction industry.

Market Restraints:

• Availability of alternative flocculating agents: The availability of alternative flocculating agents, such as aluminum sulfate and polyaluminum chloride, can limit the growth of the ferric hydroxide market.

• Stringent regulations: The use of ferric hydroxide is regulated by various government bodies, due to its potential health and environmental impacts. The stringent regulations can limit the growth of the ferric hydroxide market.

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Key Players- 

• Lanxess
• Huntsman Corporation
• Ferro Corporation
• BASF SE
• Xiamen Hisunny Chemical Co., LTD
• Yipin Pigments
• Cathay Industries
• SHENGHUA GROUP DEQING HUAYUAN PIGMENT CO.LTD
• Harold Scholz & Co. GmbH
• Kings International
• SIOF s.p.a.
• Jinhe Enterprise Co.,Limited
• Jiangsu Yuxing Industry and Trade Co.,Ltd

Market Segmentation:

The global ferric hydroxide market can be segmented based on end-use industry, and geography.

Based on end-use industry, the ferric hydroxide market can be segmented into water treatment, construction, and others. The water treatment industry is expected to hold a significant share of the ferric hydroxide market, due to its use as a flocculating agent.

Geographically, the ferric hydroxide market can be segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is expected to hold a significant share of the ferric hydroxide market, due to the growing demand for ferric hydroxide in the water treatment and construction industries in countries such as China and India.

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Conclusion:

The global ferric hydroxide market is expected to grow significantly in the next few years, driven by the increasing demand for water treatment chemicals and the growing construction industry. The growing demand for clean water and the increasing construction activities are expected to drive the demand for ferric hydroxide. However, the availability of alternative flocculating agents and stringent regulations can act as restraints for the ferric hydroxide market.

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