Iron Sulfate Heptahydrate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1587
Global Iron Sulfate Heptahydrate Market size is expected to witness significant gains between 2017 and 2024. Product is registering increasing consumption in the industries of medical, textiles, agriculture, cement, chemical and water treatment.
Iron sulfate heptahydrate is also recognized by the name ferrous sulfate heptahydrate. It consists of iron in the range of 19 to 20% by its weight and is therefore used in medical applications for treatment of iron deficiency diseases. It is also used in medical industry as anti-anemia, blood tonic, and local astringent. The compound is listed in The World Health Organization (WHO) list of basic health medicines and is considered as one of the important medicines. Escalating medical sector owing to growing population worldwide is likely to boost iron sulfate heptahydrate market during the forecast period.
The compound is extensively utilized in chemical industry as a raw material for ferrite and as an analytical & chromatographic reagent. It is consumed considerably in producing blue inorganic pigment, iron oxide and magnetic iron oxide. Advanced grade of the product is used to reduce chromium ions from cement, thus it acts as an additive in the cement mixture. Infrastructural development in emerging economies in commercial and residential sectors is likely to foster cement industry, leading to the growth of iron sulfate heptahydrate market.
Food grade of ferrous sulfate heptahydrate is used as a coloring agent for vegetable and fruits, and as a nutrition supplement in the form of iron fortifier. It is consumed in minor quantities in food products such as cereals, dairy foods, and sweets with filling. Its adoption is increasing as a fertilizer for removing lichen and moss of food trunk and in the field of pesticides to control fruit tree decay, scab of bear and apple, and for controlling wheat smut. Further, it is also used in treating iron chlorosis, a disease that affects fruit cultivation up to a great extent. To optimize crop yield and provide better quality of produce, farmers are adopting pesticides and fertilizers, this in turn will propel iron sulfate heptahydrate market in near future.
Textile industry uses the product as an ink constituent, and textile dye fixative for leather blackening. Its usage is increasing in water treatment industry for water purification as it removes phosphate and flocculation from industrial and municipal sewage. It prevents eutrophication of water bodies. Robust industrialization along with rapid urbanization is increasing the requirement of water purification, thus flourishing iron sulfate heptahydrate market in the forecast timeframe.
On the basis of application, the market is segmented as water purification, textile dye fixative, coloring agent, nutrition supplement, fertilizer, pesticides, cement additive, chromatographic agent, analytical agent, local astringent, and others. It serves end-user industries such as chemical, medical, water treatment, textile, agriculture, food & beverages, cement, and others.
Asia Pacific is anticipated to dominate global iron sulfate heptahydrate market between 2017 and 2024 owing to boom in textile market. In last decade, the region had witnessed considerable increase in number of cloth mills. Textile industry is expected to register significant gains owing to clothing fad among youngsters and demand of high quality fabric in upper class segment population. North America is following the growth trend of Asia Pacific in term of consumption of the compound due to surge in its medical and chemical industry. U.S. is the hub for pharmaceutical giants such as Novartis, Pfizer, and Johnson & Johnson. These companies’ production has increased the demand of iron sulfate heptahydrate in the region. Europe has considerable share in the global market owing to its uplifting industrialization and the need for water treatment plants. Industries such as rubber, steel, automotive, plastic, and adhesives have fueled in Germany, France, and Netherlands, this has led to water purification plant set up in the region.
Key manufacturers in the global iron sulfate heptahydrate market include Materion Corporation, ADMA Products, Inc, Daewha Alloytic Co. Ltd, Sandvik AB, Ceradyne, MI-Tech Metals, Inc, Metal Matrix Cast Composites LLC, 3M Company, GKN PLC, Hitachi Metals, CPS Technologies Corporation, and DWA Aluminum Composites.
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