Ferrous Sulfate Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Ferrous Sulfate Market Overview

Ferrous sulphate or iron sulphate is commonly known as copperas or green vitriol. It is a range of salts which commonly exists in the form of heptahydrate. It is commercially used to treat medical deficiency and in other industrial applications. Iron is an essential mineral and is a key component of hemoglobin, an erythrocyte protein that transfers oxygen from the lungs to the tissues. Ferrous sulphate increases the red blood cells to treat the iron deficiency. It is commercially available in a crystalline form as well as liquid form. Ferrous sulfate is produced by processing ilmenite ore in the manufacture of the paint pigment--Titanium Dioxide, or can be produced as a co-product from the pickling of steel. It is widely used absorbent, agricultural chemical, pigmentation, food and feed nutrition, and water treatment.

Global Ferrous Sulfate Taxonomy

The global ferrous sulfate market is classified on the basis of the following segments:

  • By application
    • Water treatment
    • Animal feed
    • Body supplements
    • Fertilizers
    • Catalysts

Prevalent Scenario in Ferrous Sulfate Market

Ferrous sulphate market is mainly driven by the rising population, especially in the Asia-Pacific region where the emerging economies such as China, India, and Brazil registering a rapidly growing GDP and population. Ferrous sulphate is widely used in different applications such as water treatment, animal feed, fertilizer, body supplements, and other industrial applications. The major share of market is contributed by the water treatment application industry where it is used as a reducing agent in the treatment of the hazardous wastes, and as a coagulant and flocculent in the treatment of sewage waste, industrial effluents, raw drinking water and other wastewater sources. It is also used for removal of phosphates and odor resulted from hydrogen sulfide in various waste sources. Animal feed application accounts for the next largest share in the global ferrous sulphate market. Changing lifestyles and hectic schedules of the global population has resulted into iron deficiencies which in turn drives growth of adoption of ferrous sulphate in dietary supplements. Ferrous sulphate is used as feed supplement to prevent anemia caused by iron deficiencies in the diets of animals such as swine, poultry, equines, and others. It is also used in significantly used to correct chlorosis or deficiencies in soils and plants. It is eliminates moss, reduces alkalinity, and micronutrient from the fertilizers. The rapidly increase in the fertilizer market across the world is driving growth of the ferrous sulphate market. Demand for fertilizers is the largest in the Asia-Pacific region coupled with the rising population and agriculture being the key source of income in many countries is another factor fueling the market for ferrous sulphate in the region. The key manufacturers are focusing on capturing the market share in the Asia-Pacific region. These companies are establishing their operations in this region or focusing on inorganic growth by acquiring or signing agreements with the local players in the region to cater to the local demand for ferrous sulphate. The abundant availability of raw materials, low cost labor, and increasing global & local manufacturers are also the factors anticipating the growth of the ferrous sulphate market across the world.

Fragmented Market

The global ferrous sulphate market is highly fragmented due to the presence of many established and local players across the world. Major players involved in the market include Rech Chemicals Co. Ltd, Hong Yield Chemical Industrial Co. Ltd, Changsha Haolin Chemical Co. Ltd, MMC Resources Inc., Shaoyang Shenzhou Chemical Industry Co. Ltd, Reactivos Mineros SAC, Cleveland Industries, Zouping County Runzi Chemicals Co. Ltd, and Gokay Mining and Chemicals.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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