Ferric hydroxide or iron(III) hydroxide is a chemical compound with the formula Fe(OH)3. It is widely used as a coagulant in water and wastewater treatment plants for purification and clarification of water. Ferric hydroxide helps in flocculation by neutralizing charges on suspended particles in water. This allows the particles to clump together and settle down, thereby clarifying and purifying water. With growing global population and rapid urbanization, the demand for clean and safe drinking water is increasing. This is propelling the growth of water treatment industry worldwide.
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 5.4% 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 the stringent regulations regarding discharge of treated wastewater. Many countries and regions have implemented strict laws pertaining to quality standards for discharge of treated wastewater into water bodies. This is compelling industries and municipal corporations to invest in advanced wastewater treatment facilities that utilize ferric hydroxide as a coagulant. Growing industrialization and urbanization has also increased the volume of wastewater generated which is propelling the demand for ferric hydroxide based wastewater treatment. With growing environmental consciousness, many industries are opting for tertiary level of wastewater treatment which uses more amount of ferric hydroxide and further purifies wastewater before discharge. This factor is expected to significantly fuel the demand for ferric hydroxide over the forecast period.
Segment Analysis
The global ferric hydroxide market is dominated by the coagulant/flocculant segment. Ferric hydroxide is widely used as a coagulant in water treatment plants to remove impurities from water. It forms complexes with suspended solids and other pollutants present in water which then settles down, thereby clarifying water. This property of ferric hydroxide to aggregate suspended particles makes it an important coagulant for water and wastewater treatment plants across residential, commercial, and industrial sectors.
Key Takeaways
The Global Ferric Hydroxide Market Demand is expected to witness high growth over the forecast period of 2023-2030 driven by rapid urbanization and increasing demand for clean water. 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 5.4% over the forecast period 2023 to 2030.
Regional analysis
The Asia Pacific region is anticipated to grow at the fastest pace during the forecast period. Rapid urbanization, increasing population, industrialization and stringent regulations regarding wastewater treatment are driving demand for ferric hydroxide in the region. China is expected to remain the largest market in Asia Pacific, driven by massive investments in water treatment infrastructure to meet the needs of the rapidly growing population and industrial activities. India is projected to emerge as a highly lucrative market attributed to implementation of various government initiatives for water management and availability of low-cost labor.
Key players
Key players operating in the ferric hydroxide market are Kemira Oyj, BASF SE, Tessenderlo Group, Bayer AG, GFH GmbH, Jiangsu Kolod Food Ingredients, and Nanjing Vital Chemical. Kemira Oyj is one of the leading producers of ferric hydroxide with manufacturing facilities located in Finland, Sweden, China and Brazil. BASF SE also has a significant global presence in ferric hydroxide production with manufacturing sites across North America, Europe and Asia Pacific regions.
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