Ferrous sulfate finds widespread utilization in water treatment plants for removing elements like fluorine and arsenic from drinking water. It works as a coagulant by combining with impurities in water to form larger particles that are more easily removed by sedimentation or filtration. The usage of ferrous sulfate helps treat wastewater in an eco-friendly manner before being discharged into water bodies. It is used to precipitate phosphorus, eliminate odors, and remove heavy metals.
The global ferrous sulfate market is estimated to be valued at US$ 1015.83 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Ferrous sulfate, also known as copperas, is an inorganic compound formed by the combination of ferrous ions and sulfate. It is available in the form of powder, crystals, or granules. Ferrous sulfate finds wide application in various end-use industries such as mining, wastewater treatment, pigments, agriculture, and pharmaceuticals. In the mining industry, it is used for removing minerals during metal extraction and mineral processing. It serves as a coagulant and disinfectant in water and wastewater treatment plants for removing impurities. Ferrous sulfate is also utilized as a plant nutrition supplement in agriculture due to its iron content that helps enhance crop yields.
Emerging usage of ferrous sulfate in water treatment plants is expected to be a major driver for the market over the forecast period. With growing industrialization and urbanization, pollution of water bodies has increased dramatically. This has fueled the need for advanced water treatment technologies using chemicals like ferrous sulfate. It efficiently removes toxic elements, heavy metals, pathogens, and other impurities from wastewater before disposal. This ensures cleaner water is released into the environment and minimizes contamination. Another driver is rising application in the mining industry. Extraction of metals and minerals generates huge amounts of wastewater laden with contaminants. Ferrous sulfate effectively precipitates and neutralizes toxic waste, allowing resources to be recovered and processed in compliance with environmental regulations.
The global ferrous sulfate market is dominated by the iron deficiency segment. Ferrous sulfate is an iron supplement used to treat and prevent iron deficiency and the resulting anemia. It is mainly used to supplement iron in the diet and is the most cost effective and commonly used iron supplement. As per the WHO, about 2 billion people worldwide have iron deficiency or anemia. The increasing prevalence of iron deficiency is expected to drive the demand for ferrous sulfate supplements during the forecast period.
Political: Regulations regarding usage of ferrous sulfate supplements differ across countries and regions. Stringent regulations can hamper market growth.
Economic: Rising disposable incomes in developing countries is positively impacting the ferrous sulfate market. However, economic slowdowns could affect consumer spending on supplements.
Social: Growing health awareness regarding importance of iron intake and rising cases of iron deficiency is driving market growth. However, social stigma in some cultures regarding certain forms of supplements can pose challenges.
Technological: Advancements are being made to develop more efficacious delivery forms such as extended release tablets that can aid compliance. Process improvements are also helping lower production costs.
The Global Ferrous Sulfate Market Size is expected to witness high growth over the forecast period due to the growing prevalence of iron deficiency worldwide. The global ferrous sulfate market is estimated to be valued at US$ 1015.83 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030.
Regionally, Asia Pacific market holds the largest share currently. Factors such as rising healthcare expenditure, large population, and increasing cases of malnutrition and anemia are fueling market growth in the region.
Key players operating in the ferrous sulfate market are 3M Company, Arthrex, Inc., ArthroCare Corporation. Key players are focusing on new product launches and expansion in emerging markets. For instance, Arthrex launched a new suture anchor system indicated for rotator cuff repairs in 2018.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it