The Global Ferrous Sulfate Market Growth Accelerated By Industrial Growth
Ferrous sulfate is an inorganic compound used in various industrial processes, as well as in wastewater treatment, manufacturing of pigments and dyes, and coagulation of latex. It is used as a coagulating agent and flocculent in wastewater treatment and clarifying drinking water. It is also used in fertilizers manufacturing and for iron fortification.
The global Ferrous sulfate Market is estimated to be valued at US$ 1015.83 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Ferrous sulfate is largely used as a coagulant aid and flocculent in wastewater treatment facilities. It helps to remove impurities and suspended solids from water by binding them together so that they settle down along with other heavier particles. Stringent regulations regarding industrial wastewater disposal and growing investments in upgrading existing wastewater infrastructure globally are fueling the demand for ferrous sulfate from this application segment. Rapid industrialization and urbanization in developing regions of Asia Pacific and Latin America have further accelerated the need for efficient wastewater treatment, thereby propelling the market growth.
Segment Analysis
The global ferrous sulfate market is dominated by the animal feed segment. Ferrous sulfate is used in animal feed to prevent iron deficiency in livestock. It is a very economical source of iron for animal feed compared to other iron supplements. The growing meat consumption and focus on animal health and nutrition has been driving the demand for ferrous sulfate in animal feed formulations.
Key Takeaways
The Global Ferrous Sulfate Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Ferrous sulfate Market is estimated to be valued at US$ 1015.83 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030.
Regional Analysis
The Asia Pacific region is expected to be the fastest growing as well as the dominant regional market for ferrous sulfate. Countries like China, India and other Southeast Asian countries are witnessing rising meat consumption as well as growing focus on animal health and nutrition. This is increasing the demand for quality animal feed supplements like ferrous sulfate in the region. The presence of a large livestock population and animal feed manufacturers in Asia Pacific provides opportunities for ferrous sulfate producers.
Key players
Key players operating in the ferrous sulfate market are 3M Company, Arthrex, Inc., ArthroCare Corporation, Biomet, Inc., BREG, Inc., Conmed Corporation, DePuy Mitek, Inc., DJO Global, Inc., Mueller Sports Medicine, Inc., Ossur hf, and OttoBock Healthcare GmbH. 3M Company and Arthrex, Inc. are the leading players in the market due to their extensive distribution networks and portfolio of orthopedic products.
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https://www.marketwebjournal.com/ferrous-sulfate-market-trends-size-and-share-analysis/
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