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Ferric Chloride Market share is anticipated to grow at a robust pace during the forecast period of 2023-2032. There is a high necessity for effective coagulants to improve the water treatment process. Ferric chloride formulations are becoming a popular product in such cases as they are a cost-effective coagulant. They can be sourced from waste materials generated by steelmaking factories, thereby enabling them to function as a green alternative. This factor will also fuel ferric chloride industry expansion over the coming years.
Ferric chloride is an inorganic compound that exists as an orange to brown-black solid and is slightly soluble in water. Over the years, non-combustible ferric chloride solutions have been widely deployed in water purification processes and treatment of sewage water.
Based on application, the wastewater treatment segment is expected to capture a sizeable share of ferric chloride market by 2032. Wastewater generated from manufacturing plants is becoming a major environmental issue. It has prompted governments across the globe to introduce stringent regulations with respect to the treatment of sewage water and industrial waste to reduce pollution.
In terms of end-use, global ferric chloride industry size from the pharmaceutical sector segment is predicted to record a considerable CAGR through 2032. The global burden of various blood disorders, such as anemia is rising. As per data by the National Heart, Lung, and Blood Institute, anemia affects more than 3 million people in the United States.
This scenario can bolster the industry progress, as a wide range of industrial chemicals including ferric chloride anhydrous 96% are used in the production of drugs that cure anemia. Moreover, the health hazards and ecological risks posed by wastewaters and chemical sludges produced by the pharma sector will also accelerate the production of ferric chloride solutions in the upcoming years.
Latin America ferric chloride market revenue is set to record substantial growth through 2032 as the region is increasing its focus on the universalization of water and sanitization services. For example, as per the ‘New Sanitation Legal Framework’, launched in Brazil in July 2020, the central government intends to guarantee access to clean water for more than 99% of the country’s population.
The Framework also aims to ensure that 90% of Brazilians get access to sewage collection & treatment services by 2033. Such schemes, along with rising investments to support the expansion of pulp mills, will augment the requirement of ferric chloride for water treatment solutions, thereby accelerating the regional market development.
The competitive landscape of ferric chloride market consists of organizations, such as Chemifloc, Kemira, Feralco (Mellby GÅRd Ab), Kem One, Gulbrandsen, BorsodChem (Wanhua Industrial Group), Malay-Sino Chemicals, BPS Products, BASF, Chemical Company of Malaysia, Feracid, Akzo Nobel Industrial Chemicals, Tessenderlo, PVS Chemicals, Asia Chemicals, Sidra Wasserchemie, and National Biochemicals, among several others. Strategic product launches, partnerships, mergers, and acquisitions are the key initiatives being undertaken by these companies to strengthen their presence in the global market.