Ferrous sulfate, also called as iron (II) sulfate, is a salt with the formula FeSO4·xH2O. Ferrous sulfate exists in hydrous and anhydrous form. Hydrous and anhydrous ferrous sulfate mainly exist in the form of heptahydrate. Ferrous sulfate is commonly found as a hydrated salt. The hydrous forms of ferrous sulfate are monohydrate, tetrahydrate, pentahydrate, and heptahydrate. The most commonly used hydrous ferrous sulfate is monohydrate and heptahydrate.
Global ferrous sulfate market was valued at US$ 941.0 Million in 2021 in terms of revenue, exhibiting a CAGR of 3.9% during the forecast period (2022 to 2030).
Drivers
Increasing demand for ferrous sulfate in the water treatment sector is a major factor driving growth of the global ferrous sulfate market, owing to increasing production capacity of ferrous sulfate across the globe. Stringent government regulations have made industrial wastewater treatment mandatory before discharging it in the environment. These regulations are expected to increase demand for ferrous sulfate in industrial wastewater treatment. According to China’s Ministry of Ecology and Environment and General Administration of Quality Supervision, Inspection and Quarantine, 2018, the effluents released from outlet of ship sewage treatment facility should have pH value of 6 to 8.5 and suspended solids content should be less than 35 mg/l.
In terms of revenue Asia Pacific is expected to dominate in the global ferrous sulfate market and is expected to continue its dominance over the forecast period. This can be attributed to increasing demand from the pharmaceutical sector, manufacturers shifting their base to mean emerging economies due to easy availability of raw material and low-cost labor, and presence of major manufacturers operating in emerging economies in this region. In addition, growing merger and acquisition activities between regional and international players is expected to further drive of the market in this region.
Figure 1. Global Ferrous Sulfate Market Value Share (%), By Region, 2021
Market Restraints
In wastewater treatment, ferric chloride and alum are used as alternative coagulant for ferrous sulfate. Low cost and easy availability makes ferric chloride and alum easy substitutes for ferrous sulfate. Therefore, the availability of substitutes for ferrous sulfate can hamper growth of the ferrous sulfate market over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | 941.0 Mn |
| Historical Data for: | 2017 to 2021 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 3.9% | Forecast Period: | 2022-2030 |
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| Companies covered: |
Crown Technology, Inc., Venator Materials PLC, Verdesian Life Sciences, LLC, Rech Chemical Co. Ltd., Coogee Chemicals Pty Ltd., Chemland Group, Hong Yield Chemical Industrial Co., Ltd., Changsha Haolin Chemicals Co., Ltd., and PJSC Sumykhimprom. |
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Market Trends
Ferrous sulfate monohydrate is obtained from heptahydrate by heating it above 65 degree Celsius. Ferrous sulfate heptahydrate is obtained by processing ilmenite ore in manufacturing of titanium dioxide, or as a co-product of steel pickling. It is used as a reducing agent in treatment of hazardous waste and as a coagulant in treatment of sewage waste, drinking water, and industrial effluents. It is also used in the cement industry to reduce harmful hexavalent chromium content in cement binding agents. Anhydrous ferrous sulfate is produced by reacting elemental iron with sulfuric acid to produce ferrous sulfate and hydrogen gas. Another method is oxidation of pyrites, which is used for correction of iron deficiencies in plants and soils, and also as a moss killer.
Figure 2. Global Ferrous Sulfate Market Value Share (%), By Application 2021
Among applications, the water treatment segment held dominant position in 2021, with a market share of 39.9% in the global ferrous sulfate market. The segment is expected to witness significant growth during the forecast period due to high demand for ferrous sulfate in the wastewater treatment industry.
Recent Developments
Competitive Section
Major players operating in the global ferrous sulfate market include Crown Technology, Inc., Venator Materials PLC, Verdesian Life Sciences, LLC, Rech Chemical Co. Ltd., Coogee Chemicals Pty Ltd., Chemland Group, Hong Yield Chemical Industrial Co., Ltd., Changsha Haolin Chemicals Co., Ltd., and PJSC Sumykhimprom.
Ferrous sulfate is produced as a co-product during ilmenite ore processing to produce titanium dioxide. The processing method is called sulfate process. In this process, ilmenite ore is treated with 60 % excess of concentrated sulfuric acid at a temperature of around 100 degree Celsius. Ferrous sulfate is removed in next stage. Ferrous sulfate is not soluble at low temperature, so the solution is cooled at around 15 degree Celsius. Ferrous sulfate crystal is formed, which is removed through filtration.
Market Dynamics
Ferrous sulfate is produced during acid recovery in steel pickling process. Spent pickle liquor (usually contains sulfuric acid) used in steel pickling process is used to produce ferrous sulfate during acid recovery process. During acid recovery process, the spent pickle liquor goes through a pre-filter and suspended particles are removed from the acid solution. The solution’s temperature is lowered. Iron present in solution forms ferrous sulfate crystals. The crystals formed are then removed from solution using a crystal settler.
Among product type, the anhydrous segment accounted for the largest revenue share in the global ferrous sulfate market in 2021. Anhydrous ferrous sulfate has several applications such as soil acidifying agent, turf culture as a moss killing agent and source of iron supplement in animals. Anhydrous ferrous sulfate is produced by reacting elemental iron with sulfuric acid to produce ferrous sulfate and hydrogen gas. Growing demand of anhydrous ferrous sulfate in several applications, it is expected to drive market growth of ferrous sulfate.
Among regions, increasing demand for iron oxide pigments in various end-use industries such as agriculture, pigments and others is expected to drive growth of the ferrous sulfate market in Europe. Ferrous sulfate is an important source of iron and is used to produce yellow, black, and red iron oxide pigments. Iron oxide pigments find application in various end-use industries such as coatings, inks & plastics, construction, pharmaceutical, and cosmetics. Growing cosmetics market in Europe is expected to increase demand for iron oxide pigments, which in turn is expected to drive market growth for ferrous sulfate.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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