Global Ferrous Sulfate Market is expected to reach USD 1,069.41 Million by 2030
As per the report published by Kings Research, the global Ferrous Sulfate Market was valued at USD 842.62 million in 2022 and is projected to reach USD 1,069.41 million by 2030, growing at a CAGR of 3.09% from 2023 to 2030.
The ferrous sulfate market is growing rapidly owing to the growing need for the treatment of iron deficiency and age-related cognitive decline. It can be used in patients with chronic kidney disease and patients on dialysis. In these patients, iron deficiency may be due to blood loss during dialysis and may be administered to correct this deficiency and maintain adequate iron levels.
However, ferrous sulfate is also associated with side effects such as nausea, constipation, and abdominal pain, and its effectiveness as an iron supplement may vary depending on a person's health and other factors. Several studies have shown that iron supplementation can help improve exercise performance in athletes and more research is needed in these areas to fully explore the potential benefits of iron sulfate supplementation.
- Based on the form, the granule or powder segment is expected to hold the largest market share of 49.60 % by 2030
- Based on type, the ferrous sulfate monohydrate segment to generate the highest CAGR of 3.56% in 2030
- Based on application, the construction segment is expected to dominate over the forecast period
- On the basis of region, Asia Pacific is anticipated to account for the largest market share of 24.74% in 2030
Kemira Focused on Expanding its Production Capacity in the UK
November 2021: Kemira completed the expansion of the production capacity of iron-based water treatment chemicals in the UK. The annual production is expected to increase by more than 100,000 tons per year which also assists to alleviate the immediate challenge of the water chemicals supply situation for the UK water industry.
Growing Use of Ferrous Sulfate for Water Treatment Augments the Market Growth
Ferrous sulfate has been used as a coagulant in wastewater treatment to remove impurities including color and COD (chemical oxygen demand). It is often used with other coagulants such as alum (aluminum sulfate) and lime to improve the efficiency of the treatment process. Along with this, it is particularly utilized in wastewater treatment as it is cost-effective and readily available compared to other coagulants. It is also considered environmentally friendly because it produces less waste than other coagulants such as ferric chloride. For instance, some studies have shown that adding ferrous sulfate to aeration tanks can improve the efficiency of biological processes for pollutant removal.
In addition to this, ferrous sulfate has proven its effectiveness as a coagulant in wastewater treatment, especially in combination with other coagulants. Its low cost and easy availability make it a prominent option for many wastewater treatment plants to improve effluent quality and meet environmental requirements which drives the market growth.
The Rising Prevalence of Anemia is Accelerating the Demand for Ferrous Sulfate
The use of ferrous sulfate in the treatment of iron deficiency anemia has been extensively studied over the past few years. As the global burden of anemia has become a major concern, researchers are constantly looking for new and alternative treatments to solve this global health problem.
According to the WHO 2021 Global Anemia Assessment, anemia remains a major health problem worldwide, especially among women of reproductive age. It is estimated that around 37.3 percent of women of reproductive age worldwide suffer from anemia, which corresponds to approximately 613 million women.
In addition, anemia is estimated to affect approximately 43% of children under the age of five worldwide. Anemia in women of childbearing age occurs most in Africa, where 57.1 percent of women are affected. In the eastern Mediterranean, this group also has a high prevalence of anemia at 39.6%. In America, the prevalence of anemia among women of reproductive age is the lowest at 17.2 percent. Several other studies have emphasized the importance of public health interventions in anemia management, including educational campaigns and nutritional supplementation programs which accelerates the need for ferrous sulfate.
In Asia Pacific Region the Ferrous Sulfate Market Dominated with a Market Share of 38%
The proliferating use of the product in common dietary supplements is used to prevent and treat iron deficiency anemia, which is common in many regions of the world, including the Asia-Pacific region. Additionally, ferrous sulfate is also being studied for its potential benefits in the treatment of other health conditions such as restless leg syndrome, chronic kidney disease, and preeclampsia in pregnant women. Several studies have investigated the potential uses of ferrous sulfate to discover its full potential in promoting overall health and well-being.
Europe is the second dominating region with a market share of 26% in 2022 attributed to the proliferating number of clinical studies which have shown the effectiveness of ferrous sulfate in the treatment of iron deficiency anemia in several European countries. The rising number of clinical trials found that a single dose of ferrous sulfate increases serum iron and red blood cells in people with iron deficiency anemia. The ongoing studies have shown about iron salts helps in the treatment of female athletes with iron deficiency as it improves iron stores and hemoglobin levels more effectively than other supplements.
In addition to ferrous sulfate being used as a food supplement, it can also be used in water purification. Ferrous sulfate is applied to remove the acid gas by reacting with hydrogen sulfide to form solid particles that can be filtered out of the water which further propels the market growth.
Market Players are Focusing on Expanding their Production Capabilities to Expand their Geographical Reach
The ferrous sulfate industry is fragmented with key players such as Chemland Group, Coogee, Crown Technology, Inc., Kemira, KRONOS INTERNATIONAL, Inc., Merck KGaA, Pencco, Inc., Rech Chemicals Co Ltd, Thermo Fisher Scientific Inc., Venator Materials PLC. Companies are contemplating to expand their business globally through several business strategies such as acquisitions, partnerships, product launches, collaborations, and mergers.