Increasing Prevalence of Anemia to Augment the Ferrous Sulfate Market Growth

 

Ferrous Sulfate refers to a group of metallic salts with the chemical formula FeSO₄. These compounds have several common names such as ferric sulfates, hydroxyl elastomerates, and hydroxyl esters. These compounds can exist in two forms, the sulfated form which is known as blackboard sulfates, and the non-sulfated form which is called keyboard sulfates.                 

Ferrous Sulfate is used to help prevent and treat anemia (iron deficiency) and is an active ingredient in many blood transfusions. It is considered to be a safe and natural drug. Moreover, it is widely used to treat hazardous waste and as a coagulant to treat industrial effluents, drinking water, and sewage waste. It is increasingly also being used in water treatment systems, construction, and pharmaceuticals industry.

Market Dynamics:

Increasing demand for ferrous sulfate in the water treatment sector and stringent government regulations are expected to propel of the ferrous sulfate market growth. Governments have made industrial wastewater treatment mandatory before discharging it into the environment. For instance, in November 2017, Maharashtra (India) government sanctioned a policy, making it compulsory to recycle and reuse wastewater.

Moreover, increasing prevalence of anemia worldwide is expected to augment the growth of the ferrous sulfate market. Ferrous sulfate is used to treat iron deficiency by oral administration. For instance, according to the World Health Organization (WHO), anemia is a serious global public health problem that particularly affects young children and pregnant women.

Increasing demand for ferrous sulfate in the construction and pharmaceuticals industry is also expected to fuel the market growth.

However, the availability of substitutes, such as ferric chloride and alum, for ferrous sulfate is expected to restrain the growth of the ferrous sulfate market.

Competitive Analysis:

Major players operating in the ferrous sulfate market are PJSC Sumykhimprom, Changsha Haolin Chemicals Co., Hong Yield Chemical Industrial Co., Chemland Group, Coogee Chemicals, Rech Chemical Co. Ltd., Verdesian Life Sciences, Venator Materials PLC, and Crown Technology.

Major players in the market are involved in different business strategies such as product launch, business expansion, etc. to enhance their market presence or to strengthen their product portfolio. For instance, in January 2021, Affinity Chemical LCC announced construction is nearing completion on its new Prattville, Alabama, facility. The eco-friendly, zero-emissions facility will supply bulk aluminum sulfate and other specialty chemicals (such as ferrous sulfate) to local paper mills and other industrial and municipal customers.