The growing demand for dietary supplements, the continuous expansion of the water treatment industry, easy availability, and low cost of raw materials have resulted in boosting the Ferrous Sulfate market.
New York, NY -- (SBWIRE) -- 04/20/2021 -- The Global Ferrous Sulfate Market is forecast to reach USD 1.10 Billion by 2027, according to a new report by Reports and Data. Ferrous sulfate is a mineral that witnesses a wide range of applications in various industries. Iron deficiency is a major public health issue across the globe, particularly among infants, women of childbearing age, and children. The applicability of this mineral in treating and preventing iron deficiency is one of the mentionable factors supporting the growth of the sector. In the UK, it is the gold standard of oral iron therapy. The over-the-counter (OTC) nutritional supplement of this mineral is used for treating and preventing low levels of iron in the blood. In the US, iron deficiency is considered as one of the common nutritional deficiency, which results in elevating the significance of this mineral in the healthcare sector. Thus factors like the rising importance and growing demand for dietary supplements, the continuous expansion of the water treatment industry, and easy availability and low cost of raw materials is fostering the growth of the market.
In regards to region, North America can be seen to occupy a considerable share of the sector. The market share held by this region is attributed to the high demand for iron deficiency medications, continuously growing liquid ferrous sulfate industry, which is propelling the growth of the iron(II) sulfate industry in this region.
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The Ferrous Sulfate market held a market share of USD 824.2 Million in the year 2018 that is forecasted to grow at a rate of 3.2% during the forecast period.
In context to Grade, the Food Grade segment is projected to witness a significant growth rate of 3.6% during the forecast period, which is expected to hold 30.0% of the market by 2027. The growth rate witnessed by the Food Grade Monohydrate segment is attributed to the increasing demand for nutritional supplement products, associated growing demand for nutraceuticals for treating anemia, which results in the rising demand for iron(II) sulfate in these products contributing to the growth rate witnessed by this segment. In nutritional supplements, the commonly used type of iron(II) sulfate is Ferrous Sulfate Monohydrate.
In context to Product Type, the Ferrous Sulfate Heptahydrate segment held a larger market share of 70.0% in 2018, with a CAGR of 2.9% during the forecast period. The market share held by this segment is attributed to the easy availability of the compound as the heptahydrate and its wide arena of application like medically it finds application as blood tonic, in animal feed it is used as iron fortifier for feed additive, and in nutritional supplements, it is used as iron fortifier which contributes to the market share held by this segment.
In regards to Application, the Iron Oxide Pigment segment occupied the largest market share of more than 40.0% in 2018, with a CAGR of 3.3% during the forecast period. The ease of handling this compound and water-solubility makes it an ideal choice for iron oxide pigment, contributing to the market share held by this segment.
In regards to the region, Europe held 35.0% of the market in 2018, with a significant CAGR of 3.4% during the forecast period. The market share held by the region is attributed to the expanding healthcare & pharmaceutical industry, continuously increasing demand for iron(II) sulfate for water treatment, which is supporting the expansion of the sector in this region.
Key participants include Rech Chemicals Co Ltd, Shaoyang Shenzhou Chemical Industry Co Ltd, Changsha Haolin Chemical Co Ltd, Reactivos Mineros SAC, MMC Resources Inc, Cleveland Industries Inc, Gokay Mining and Chemicals, Hong Yield Chemical Industrial Co Ltd, Zouping County Runzi Chemicals Co Ltd and Verdesian Life Sciences.
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For the purpose of this report, Reports and Data have segmented the global Ferrous Sulfate market according to Product Type, Grade, Application, and Region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
Ferrous Sulfate Monohydrate
Ferrous Sulfate Heptahydrate
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
Food Grade
Technical Grade
Feed Grade
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
Iron Oxide Pigment
Body supplements
Water Treatment
Agriculture
Animal feed
Catalyst
Others
Regional Outlook (Revenue in USD Billion; 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2027
Chapter 3. Indicative Metrics
Chapter 4. Ferrous Sulfate Market Segmentation & Impact Analysis
4.1. Ferrous Sulfate Market Segmentation Analysis
4.2. Industrial Outlook
…………..
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Rech Chemicals Co Ltd
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Shaoyang Shenzhou Chemical Industry Co Ltd
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. Changsha Haolin Chemical Co Ltd
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4. Reactivos Mineros SAC
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. MMC Resources Inc
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Ferrous Sulfate market and its competitive landscape.
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