New York, March 17, 2020 (GLOBE NEWSWIRE) -- The Global Ferrous Sulfate market is forecast to reach USD 1.10 Billion by 2027, according to a new report by Reports and Data. Ferrous sulfate is a mineral that witnesses a wide range of applications in various industries. Iron deficiency is a major public health issue across the globe, particularly among infants, women of childbearing age, and children. The applicability of this mineral in treating and preventing iron deficiency is one of the mentionable factors supporting the growth of the sector. In the UK, it is the gold standard of oral iron therapy. The over-the-counter (OTC) nutritional supplement of this mineral is used for treating and preventing low levels of iron in the blood.
In the US, iron deficiency is considered as one of the common nutritional deficiency, which results in elevating the significance of this mineral in the healthcare sector. Thus factors like the rising importance and growing demand for dietary supplements, the continuous expansion of the water treatment industry, and easy availability and low cost of raw materials is fostering the growth of the market.
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In regards to region, North America can be seen to occupy a considerable share of the sector. The market share held by this region is attributed to the high demand for iron deficiency medications, continuously growing liquid ferrous sulfate industry, which is propelling the growth of the iron(II) sulfate industry in this region.
Further key findings from the report suggest
- The Ferrous Sulfate market held a market share of USD 824.2 Million in the year 2018 that is forecasted to grow at a rate of 3.2% during the forecast period.
- In context to Grade, the Food Grade segment is projected to witness a significant growth rate of 3.6% during the forecast period, which is expected to hold 30.0% of the market by 2027. The growth rate witnessed by the Food Grade Monohydrate segment is attributed to the increasing demand for nutritional supplement products, associated growing demand for nutraceuticals for treating anemia, which results in the rising demand for iron(II) sulfate in these products contributing to the growth rate witnessed by this segment. In nutritional supplements, the commonly used type of iron(II) sulfate is Ferrous Sulfate Monohydrate.
- In context to Product Type, the Ferrous Sulfate Heptahydrate segment held a larger market share of 70.0% in 2018, with a CAGR of 2.9% during the forecast period. The market share held by this segment is attributed to the easy availability of the compound as the heptahydrate and its wide arena of application like medically it finds application as blood tonic, in animal feed it is used as iron fortifier for feed additive, and in nutritional supplements, it is used as iron fortifier which contributes to the market share held by this segment.
- In regards to Application, the Iron Oxide Pigment segment occupied the largest market share of more than 40.0% in 2018, with a CAGR of 3.3% during the forecast period. The ease of handling this compound and water-solubility makes it an ideal choice for iron oxide pigment, contributing to the market share held by this segment.
- In regards to the region, Europe held 35.0% of the market in 2018, with a significant CAGR of 3.4% during the forecast period. The market share held by the region is attributed to the expanding healthcare & pharmaceutical industry, continuously increasing demand for iron(II) sulfate for water treatment, which is supporting the expansion of the sector in this region.
- Key participants include Rech Chemicals Co Ltd, Shaoyang Shenzhou Chemical Industry Co Ltd, Changsha Haolin Chemical Co Ltd, Reactivos Mineros SAC, MMC Resources Inc, Cleveland Industries Inc, Gokay Mining and Chemicals, Hong Yield Chemical Industrial Co Ltd, Zouping County Runzi Chemicals Co Ltd and Verdesian Life Sciences.
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For the purpose of this report, Reports and Data have segmented the global Ferrous Sulfate market according to Product Type, Grade, Application, and Region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Ferrous Sulfate Monohydrate
- Ferrous Sulfate Heptahydrate
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Food Grade
- Technical Grade
- Feed Grade
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Iron Oxide Pigment
- Body supplements
- Water Treatment
- Agriculture
- Animal feed
- Catalyst
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ferrous-sulfate-market
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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