China to Dominate the Global Ferrous Sulfate Market Share
In its latest study, Fact.MR provides the supply chain and industry life cycle analysis of the global ferrous sulfate market from the period of 2022 to 2032. Besides, it also highlights various growth opportunities associated with the leading segments in terms of type, grade and application across six major regions
NEW YORK, Jan. 6, 2022 /PRNewswire/ -- Over the projection period of 2022 to 2032, the ferrous sulfate market is expected to rise at a CAGR of 2.9 percent, reaching 24,733 kilo tonnes by the end of 2032.
According to Fact.MR, use of ferrous sulfate increased at a 2% CAGR from 2016 to 2021, with nations like China, the United States, India, Germany, and Japan holding a substantial part of the global ferrous sulfate market.
As ferrous sulfate is a byproduct of titanium dioxide production, macroeconomic factors affecting the latter are bound to affect the former's cost structure. Because of the surplus of titanium dioxide, pricing has fluctuated, resulting in strategic cooperation and joint ventures.
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As the sector grows and sees limitations in innovation and development, demand for ferrous sulfate will stay stable. According to the Fact.MR report, the global market for ferrous sulfate is expected to reach around 2.9 billion dollars by 2032.
On the strength of increased investments in new technologies to tackle performance and quality concerns associated with ferrous sulfate manufacturing, the worldwide ferrous sulfate market has developed dramatically in recent years. To capitalize on the rising demand, leading ferrous sulfate manufacturers are focusing on evaluating in-depth new manufacturing procedures and therefore targeting the emerging market.
Furthermore, ferrous sulfate, which is used in multi-nutrient fertilizers, guarantees that other essential elements like phosphorus and nitrogen are absorbed to their full potential. This factor continues to influence ferrous sulfate demand around the world, resulting in minimal market growth.
Key Takeaways:
- Heptahydrate segment dominated the ferrous sulfate market with a share of nearly 95% in terms of revenue by 2021 end.
- Asia Pacific and North America to capture nearly ~65% in the overall global ferrous sulfate market.
- The revenue contribution from the water treatment segment is expected to increase by 1.4X over the projection period.
Growth Drivers:
- Growing regulations regarding the cement manufacturing process to propel the growth of the ferrous sulfate market
- Application in ferrous sulfate as additive like water treatment, agriculture, pigments, cement and animal feedstock to spur the demand of ferrous sulfate.
Key Restraints:
- Decline in titanium dioxide industry can directly affect the availability of ferrous sulfate.
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Competitive Landscape
The ferrous sulfate market is expected to be very fragmented. Despite the high level of fragmentation in the ferrous sulfate market, the top two players retain their status quo by hanging onto their ferrous sulfate revenue shares.
Venator Materials PLC and Kronos Worldwide Inc are two of these companies. These two companies account for around a third of the total revenue in the ferrous sulfate market.
Key Players in the Ferrous Sulfate Market Include:
- Coogee Chemicals Pty Ltd
- KRONOS Worldwide Inc.
- Crown Technology, Inc.
- Verdesian Life Sciences LLC
- Rishi Chemical Works Pvt. Ltd.
- Gokay Group
- Rech Chemical Co. Ltd.
- Venator Materials PLC.
- Guangxi Jintao Titanium Co.Ltd.
- Chemland Group
More Valuable Insights on Ferrous Sulfate Market
Fact.MR provides an unbiased analysis of the ferrous sulfate market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global ferrous sulfate market with a detailed segmentation on the basis of:
- By Type
- Ferrous Sulfate Monohydrate
- Ferrous Sulfate Heptahydrate
- By Grade
- Food Grade
- Technical Grade
- By Application
- Water Treatment
- Agriculture
- Pigment
- Cement
- Animal Feedstock
- Others
Key Questions Covered in Ferrous Sulfate Market Report
- The report offers insight into the Ferrous Sulfate market demand outlook for 2022-2032.
- The market study also highlights projected sales growth for Ferrous Sulfate market between 2022 and 2032.
- Ferrous Sulfate market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Ferrous Sulfate market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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