Ferric hydroxide is an iron (III) hydroxide compound which is a reddish-brown color powder. It is used as a coagulant in water treatment to remove suspended solid particles, and as a supplement for iron deficiency anemia.
The global Ferric Hydroxide Market is estimated to be valued at US$ 3.6 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the Ferric hydroxide market is its increasing use in pharmaceutical applications. Ferric hydroxide is used as an active ingredient in supplements to treat and prevent iron deficiency. It is also used as an inactive colorant in various medicines. As healthcare investments continue to rise globally, the demand for ferric hydroxide from the pharmaceutical industry is expected to increase significantly over the forecast period.
SWOT Analysis
Strength: Ferric hydroxide has applications in coagulation/flocculation in water treatment plants. It is highly effective in clarifying and purifying water.
Weakness: The material is environmentally hazardous if not handled or disposed of properly. Strict regulation and handling procedures must be followed.
Opportunity: Growing demand for reliable and sustainable water treatment technologies from rapidly expanding urban centers in developing nations. Regulations favor use of non-toxic and environmentally responsible alternatives.
Threats: Availability of substitute materials that can perform similar functions. Competition from other cheaper and/or patented treatment solutions.
Key Takeaways
The Global Ferric Hydroxide Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing consumption in water treatment facilities globally. Rapid urbanization has significantly increased demand for centralized water treatment plants.
Regional analysis North America dominates the global market and accounts for over 30% share due to stringent water quality standards and widespread commercialization of advanced treatment technologies. Asia Pacific exhibits the fastest growth due to rising infrastructure development and growing industrial activity in China, India and other Southeast Asian countries.
Key players operating in the Ferric hydroxide market are BASF SE,DuPont,American Elements,Cabot Corporation,ZeniMac Exim,Southern Carbon Chemical,Reade Manufacturing Company,The Shepherd Chemical Company. The market is fragmented with presence of several regional and global suppliers. Key players focus on expansion in high growth regions and invest in R&D to develop improved formulations suitable for various applications.
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