Global Ferrous Sulfate Market Is Anticipated To Witness High Growth Due To Growing Demand In The Water Treatment Segment And Increasing Applications In Cement And Agriculture

Ferrous Sulfate Market
Ferrous Sulfate Market

Overview:

Ferrous sulfate is an iron salt, it comes in a variety of forms. It is a solid crystalline form of iron with mild reducing power and is used as the iron catalyst component in Fenton's reagent. Iron is a mineral that the body needs to produce red blood cells. It also helps the body transport oxygen from the lungs to tissues and organs throughout the body.

These supplements may help treat or prevent low blood levels of iron in people who are anemic or who are pregnant or have chronic diseases that require iron supplementation. This mineral is important for making hemoglobin, a protein that carries oxygen from the lungs to the rest of the body's cells and myoglobin, a protein that helps supply oxygen to the cells in the muscles.

An essential component of beach sand deposits is the mineral ilmenite, which is an oxide of titanium and iron. Ilmenite is transformed into titanium dioxide pigment grade using either the sulphate method or the chloride procedure. The worldwide Ilmenite Market is anticipated to expand as a result of rising paper and plastics demand.

Market Dynamics:

Growing acquisitions by key players are estimated to augment growth of the global Ferrous Sulfate Market over the forecast period. For instance, Verdesian Life Sciences announced the acquisition of Cytozyme Laboratories, Inc., in April 2021. This acquisition will strengthen Verdesian’s position as The Nutrient Use Efficiency People. Moreover, easy availability of alternatives is anticipated to restrain growth of the global ferrous sulfate market over the forecast period.

Impact of COVID-19:

COVID-19 was first recognized in 2019 in Wuhan and it resulted in shutting down of the entire nation. The World Health Organization announced the pandemic as a public health emergency in 2020. During the pandemic several restrictions were imposed in many countries as the number of COVID-19 cases were increasing on a daily basis. Many governments across the world had to impose strict lockdowns for preventing the transmission of the virus.

These lookdowns led to shutting down of major industries and trade was halted. Agricultural and construction activities were also halted which resulted in decrease in demand for ferrous sulfate. Thus, COVID-19 hampered the growth of the global Ferrous Sulfate Market. However, the market is estimated to witness growth, as many restrictions have been relaxed in the post-pandemic era.

Key Takeaways:

The global Ferrous Sulfate Market is expected to witness high growth, exhibiting CAGR of 3.9 % over the forecast period, due to increasing acquisition by key players.

For instance, the water treatment division of ALTIVIA was acquired by USALCO, a manufacturer of industrial and water treatment chemicals, in October 2021. USALCO is a supplier of specialty chemicals in the United States of America.

North America is anticipated to witness significant growth in the global Ferrous Sulfate Market over the forecast period, owing to growing demand for iron supplements. Major players operating in the global ferrous sulfate market are Chemland Group, KRONOS Worldwide Inc., Guangxi Jintao Titanium Co. Ltd., Crown Technology, Inc., Venator Materials PLC., and Verdesian Life Sciences LLC.

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