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.

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