Ferric Chloride Market Global Analysis 2022-2030
Market Analysis
The global ferric chloride market is anticipated to grow at a 4.65% CAGR between 2017-2024, as per the recent Market Research Future (MRFR) report. Ferric chloride is an aqueous solution that is light brown to colorless and has a faint hydrochloric odor. It has an extensive range of applications, including metallurgy, electronics, chemical, and pharmaceutical for its solubility with various organic solvents along with its exothermic nature that helps to increase reaction rates. It is utilized as a catalyst in organic synthesis, to treat over-cropping of animal claws, a drying reagent in an anhydrous form in some reactions, and in energy storage systems.
Key Players
Notable players profiled in the global ferric chloride market report include Saf Sulphur Company (Saudi Arabia), Feralco AB (France), Seqens Group (France), BASF SE (Germany), PVS Chemicals (US), BorsodChem (Hungary), Sukha Chemical Industries (India), Sidra Wassercheime GmbH (Germany), MALAY-SINO CHEMICAL INDUSTRIES SDN. BHD (Malaysia), Gulbrandsen (US), KEM ONE (France), Chemifloc LTD (Ireland), Tessenderlo Group (Belgium), and Kemira (Finland). Key players are incorporating specific strategies to create a niche in the market, such as partnerships, mergers, collaborations, and others.
Numerous factors are adding to the growth of the global ferric chloride market. These factors, according to the latest Market Research Future report, include increasing awareness of consumers about the waterborne disease, especially typhoid and cholera, better performance characteristics, higher cost efficiency, demand for clean drinking water, and increasing pollution and water consumption levels.
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On the contrary, the acidic and corrosive nature of ferric chloride in specific water treatment plants coupled with strict regulations laid down by the government on companies at the time of its production as well as shipment, and the dispersion of ferric chloride into plastic container or glass are factors that may hamper the global ferric chloride market growth during the forecast period.
Market Segmentation
The Market Research Future report provides a complete segmental analysis of the global ferric chloride market based on end use industry, application, and grade.
By grade, the global ferric chloride market is segmented into ferric chloride liquid, ferric chloride hexahydrate lumps, and anhydrous.
By application, the global ferric chloride market is segmented into asphalt blowing, catalyst, pigment manufacturing, printed circuit boards, electronic etchants, potable water treatment, metal surface treatment, waste-water treatment, and others.
By end use industry, the global ferric chloride market is segmented into municipal potable water treatment, municipal waste-water treatment, metals and metallurgy, electronics, chemicals, pharmaceuticals, and others.
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Regional Analysis
By region, the global ferric chloride market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Of these, the APAC region will remain the driving force in the market during the forecast period for its extensive use in the electronics and water treatment industry. Besides, the rising application of ferric chloride in the metal & metallurgy industry is also adding to the market growth. China is the key contributor in the region for its increasing demand in the etching of PCBs followed by India, Malaysia, Japan, and South Korea.
The global ferric chloride market in Europe will have lucrative growth during the forecast period. Numerous factors are adding to the growth of the ferric chloride market in the region, such as high consumption potential, presence of key end use industries, booming portable water treatment and pharmaceuticals industry, and increasing use in pigment manufacturing. Germany, Belgium, Hungary, Italy, and France are the key contributors in this region.
The global ferric chloride market in North America will have profitable growth during the forecast period. Numerous factors are adding to the growth of the ferric chloride market in the region such as rising application of ferric chloride in the waste-water treatment sector and pharmaceuticals, surging demand in industrial waste-water and sewage treatment, well-developed economy, increasing production capacities, and high consumption potential. The US is the chief contributor in this region.
The global ferric chloride market in Latin America and the MEA will have stable growth during the forecast period.
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