(MENAFN- globenewswire - nasdaq) dubai, uae, aug. 23, 2023 (globe newswire) -- according to the recent research published by kings research, the global ferrous sulfate market was valued at usd 842.62 million in 2022 and is anticipated to reach usd 1,069.41 million by 2030, growing at a robust cagr of 3.09% from 2023 to 2030. key factors driving the growth of the market are the expansion of production facilities by manufacturers, along with strict government regulations that require industrial effluents to be sterilized before being released into the atmosphere. the growing use of ferrous sulfate as an ingredient in agriculture, water treatment, cement, pigments, and animal nutrition is further aiding market expansion. ferrous sulfate, an important component of hydrated salt, is a mineral that is primarily employed in the building, water treatment, and pharmaceutical industries. additionally, it contains an abundance of iron and is therefore employed to address iron deficiency.
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competitive landscape
the competitive landscape of the global ferrous sulfate market is fragmented in nature. significant players are implementing critical business strategies, including partnerships, mergers & acquisitions, product developments, and joint ventures, to enhance their market positions across various regions and diversify their product offerings. expansion & investments constitute the major strategic initiatives. firms are investing in r&d activities, construction of new manufacturing facilities, and supply chain optimization.
key players in the market include:
chemland group coogee crown technology, inc. kemira kronos international, inc. merck kgaa pencco, inc. rech chemicals co ltd thermo fisher scientific inc. venator materials plc
trending now: recent study decodes the potency of ferrous sulfate versus intravenous iron source in anemic pregnant women
for healthcare professionals, anemia in pregnant patients is one of the major health concerns. pregnancy raises management issues, including the dilemma of whether iron sucrose is taken intravenously or ferrous sulfate pills are preferable. in order to address this, a randomized control study, which involved both treatment approaches, was conducted in india's mountainous environment.
the study was carried out as a parallel-group, open-label randomized controlled trial (rct) in a tertiary care government hospital in india with over 4,000 delivery loads per year. the results indicate that intravenous iron sucrose is superior in terms of both tolerability and correction of iron deficiency anemia during pregnancy.
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the global ferrous sulfate market is segmented as:
by form
granule or powder liquid others
increasing application and favorable characteristics of granule or powder to bolster market growth
the granule or powder segment will lead the global ferrous sulfate market in 2022 and is anticipated to continue its dominance with an estimated revenue of usd 530.4 million by 2030. numerous uses of the granule or powder form include dietary supplements, tofu coagulants, and pigment-binding agents in ceramics. it has a light green hue and dissolves readily in water, which makes it a popular fertilizer for supplying plants with iron. horticulturists select this form since it is simpler for plants to absorb than granular or powder forms.
by type
ferrous sulfate heptahydrate ferrous sulfate monohydrate ferrous sulfate tetrahydrate ferrous sulfate anhydrous others
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by application
construction water treatment pigments pharmaceutical animal feed others
surging demand to remediate iron deficiency in population to support pharmaceutical growth
the pharmaceutical segment is growing rapidly and is anticipated to depict a cagr of 3.90% over 2023-2030 attributed to the soaring usage of iron deficiency in the form of supplements. the growth of the segment is supported by the increasing usage of supplements for iron deficiency. these are available in pills, capsules, or liquid solutions for oral medicinal use. it aids in raising hemoglobin production in red blood cells, improving oxygen delivery throughout the body.
however, the construction segment dominates the global ferrous sulfate market with a valuation of usd 215.3 million in 2022. the segment's growth is primarily attributable to the extensive use of ferrous sulfate in the manufacturing of cement and increasing investments by governments in the development of industries and urban infrastructures.
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growing demand in agriculture and healthcare to propel ferrous sulfate market growth
as a vital component for plant growth and development, ferrous sulfate is observing an upsurge in demand in the agriculture sector, particularly as a fertilizer. it is frequently used to remediate iron-deficient soil and encourage nutritive plant growth. studies have also demonstrated that administering iron sulfate to crops can increase their nutritional content and suitability for human consumption.
ferrous sulfate is also used frequently as an iron supplement to treat anemia caused by iron deficiency, which affects millions of individuals worldwide. it is also used to treat other medical disorders, including restless legs syndrome and anemia caused by pregnancy. the potential of ferrous sulfate to treat medical illnesses such as cancer and celiac disease is being studied by researchers all over the world.
additionally, the mounting utilization of ferrous sulfate indicates that it will continue to play a significant role in several sectors, including agriculture and healthcare. over the analysis timeline, new and inventive uses for ferrous sulfate would probably result from ongoing research and development.
asia pacific to gain traction due to alarming rise in number of anemic pregnant women
asia pacific is the largest region in the ferrous sulfate market and is likely to progress at a cagr of 3.65% through the forecast period. the rising rate of anemia among pregnant women is a significant worldwide health issue. according to the national family health survey, the frequency of anemia among pregnant women in india increased from 50.4% in the previous years (2015–2016) to 52.2% between 2019 and 2021. india is responsible for nearly 80% of all maternal deaths globally caused by anemia, which affects about half of all south asian nations. the issue becomes worse throughout pregnancy due to the fetus's growing needs and the physiological changes that take place during pregnancy. ferrous sulfate is widely used to target these concerns, which is driving the apac market growth.
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r&d activities on hemoglobin-related disorders to position europe as the second leading region
europe is anticipated to be the second leading region in the ferrous sulfate market, depicting a steady cagr of 3.00% over the study timeframe of 2023-2030. the demand for ferrous sulfate is escalating on account of continuous research efforts in the region to cure a number of illnesses linked to low hemoglobin. for instance, an increasing number of public health initiatives in europe are encouraging iron-rich foods and healthy eating practices that also address the underlying causes of anemia in people and communities. ferrous sulfate is frequently used as a dietary supplement to treat iron-deficient anemia across several countries in the region.
key points from toc:
1 introduction of the global ferrous sulfate market
1.1 market definition
1.2 market segmentation
1.3 research timelines
1.4 limitations
1.5 assumptions
2 executive summary
3 research methodology
3.1 data collection
3.2 subject matter expert advice
3.3 quality check
3.4 final review
3.5 bottom-up approach
3.6 top-down approach
4 global ferrous sulfate market outlook
4.1 market evolution
4.2 overview
4.3 market dynamics
4.4 pricing analysis
4.5 porter's five forces analysis
4.6 value chain analysis
4.7 macroeconomic analysis
5 impact of russia-ukraine war
6 global ferrous sulfate market, by form
7 global ferrous sulfate market, by type
8 global ferrous sulfate market, by application
9 global ferrous sulfate market, by geography
10 north america
11 europe
12 the asia pacific
13 middle east & africa
14 latin america
15 global ferrous sulfate market competitive landscape
16 company profiles
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