Ferrous Sulfate Market Is Anticipated To Grow At A CAGR 2.9% Over The Forecast Period Of 2022 To 2032
Fact.MR has published a recent report on the ferrous sulfate market for the forecast period of 2018 to 2028, which offers cumulative insights on the captivating trends influencing long-term aspects of the industry. As per the study, demand from the agricultural domain is foreseen to be one of the key influencing factors driving the growth of the ferrous sulfate market over the forecast timespan. Moreover, the report also reinforces the fact that the surging production of animal livestock will be a prominent influencer boosting the growth of the ferrous sulfate market.
Albeit growth at a marginal volume CAGR of 2.5%, the report projects the global demand for ferrous sulfate to be over 24 mn tons by 2028-end. Favorable policies, such as Directive 2003/53/EC of the European Union that mandates the use of ferrous sulfate as a reducing agent additive, are poised to bode well for the growth of the ferrous sulfate market.
Company Profiles
- Archer Daniels Midland Company
- Royal DSM NV
- Associated British Foods Plc.
- BASF SE
- Cargill Inc.
- Charoen Pokphand Foods PCL
- Chr. Hansen Holdings A/S
- United Animal Health Inc.
- Forfarmers N.V.
Ferrous sulfate Market Key Segments
- By Type
- Ferrous Sulfate Monohydrate
- Ferrous Sulfate Heptahydrate
- By Grade
- Food Grade
- Technical Grade
- By Application
- Water Treatment
- Agriculture
- Pigment
- Cement
- Animal Feedstock
- Others
What are the prominent driving factors of the Ferrous sulfate?
Ferrous sulfate is generally used as an additive in applications such as water treatment, agriculture, pigments, cement and animal feedstock, among others.
As per Fact.MR analysis, the demand for cement is estimated to grow in tandem with the growing construction industry. The global construction industry is anticipated to register a growth rate of over 5% due to increasing urbanization and the upward trend in investments from both, public and private entities, for infrastructural development. This factor is surging the demand for cement and, in turn, ferrous sulfate.
