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The ferric chloride market share is expected to increase by USD 155.76 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.17%.
This ferric chloride market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ferric chloride market segmentation by application (water and wastewater treatment, PCB, and others) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The ferric chloride market report also offers information on several market vendors, including 3V Tech S.p.A., Acuro Organics Ltd, BASF SE, BPS Products Pvt. Ltd., Chemifloc Ltd, Feralco AB, Huizhou 3R Environmental Chemical Co, Kemira Oyj, Malay Sino Chemical Industries Sdn Bhd, Nissan Chemical Corp., Prime Chemicals, PVS Chemicals Inc., Real MetalChem Pvt. Ltd., SC Chimcomplex SA Borzesti, SIDRA Wasserchemie GmbH, Sukha Chemical Industries, Tessenderlo Group NV, Vinayak Industries, VWR International LLC, and Wanhua Chemical Group Co. Ltd. among others.
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The increase in demand for wastewater reuse is notably driving the ferric chloride market growth, although factors such as process technology improvement may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ferric chloride industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Ferric Chloride Market Driver
One of the key factors driving growth in the ferric chloride market is the increase in demand for wastewater reuse. Industries discharge wastewater that contains contaminated inorganic compounds that can have toxic effects on marine life and cause serious water pollution if released untreated into rivers, ponds, or lakes. Mandatory guidelines by various regulatory bodies, including the US Environmental Protection Agency (EPA), make the treatment and reuse of industrial wastewater compulsory. The use of ferric chloride for the treatment of wastewater is the key reason for its high demand. Industries also use ferric chloride to protect their equipment against contamination and to reuse the wastewater as much as possible. Industries must ensure that the water being released into the environment is safe and does not pose a threat to the environment, humans, or animals.
Key Ferric Chloride Market Trend
The spot basis pricing preference for ferric chloride is a ferric chloride market trend that is expected to have a positive impact in the coming years. Consumers prefer spot basis pricing as their requirement for ferric chloride fluctuates, and the prices include taxes, production costs, and freight charges. If ferric chloride is bought on a contractual basis, then this change in price does not imply. Contracts are made annually, and the contract prices do not change with changes in raw materials prices. Buyers and traders prefer the spot basis pricing system as the margins for revenues are high, and the prices are proportional to the changes in the market price. In the case of a contract system, the consumers have the liberty to negotiate the prices that are listed as suppliers that offer the least price are awarded the contract. In the case of spot basis pricing, the price is fixed, and the consumers cannot negotiate on the price.
Key Ferric Chloride Market Challenge
The process technology improvement will be a major challenge for the ferric chloride market during the forecast period. The use of wastewater treatment chemicals such as ferric chloride will scale down due to new and improved technologies for water treatment. Even though such technologies cost more, in the long run, they turn out to be more economical and functional. Traditional mechanical treatment systems are widely used within natural processes under controlled infrastructure ideally suited for natural system technologies. Terrestrial systems make use of the nutrients contained in wastewater. Soil adsorption and plant growth convert biologically available nutrients into less-available forms of biomass, which is then harvested for a variety of uses, including alcohol production, methane gas production, or cattle feed supplements.
This ferric chloride market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global ferric chloride market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ferric chloride market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the ferric chloride market encompasses successful business strategies deployed by the key vendors. The ferric chloride market is fragmented and the vendors are deploying growth strategies such as continuously undergoing M&A to broaden their product portfolios to compete in the market.
To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The ferric chloride market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the ferric chloride market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market’s growth will originate from Europe during the forecast period. Germany and UK are the key markets for ferric chloride in Europe. Market growth in this region will be faster than the growth of the market in the South American and MEA regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The ferric chloride market share growth in the water and wastewater treatment segment will be significant during the forecast period. Ferric chloride is used to treat process water (water that cannot be classified as drinking water is known as process water), effluent water, and raw water to remove the organic and inorganic particles such as dirt and hazardous substances, and oxides of metals. Water treatment plants use ferric chloride extensively to treat water and meet the required standards.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ferric chloride market size and actionable market insights on the post-COVID-19 impact on each segment.
MENA Ferric Chloride market - The market share will grow at a CAGR of 4% by 2021.
Ferric Chloride Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.17% |
Market growth 2022-2026 |
$ 155.76 million |
Market structure |
Fragmented |
YoY growth (%) |
4.34 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 36% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3V Tech S.p.A., Acuro Organics Ltd, BASF SE, BPS Products Pvt. Ltd., Chemifloc Ltd, Feralco AB, Huizhou 3R Environmental Chemical Co, Kemira Oyj, Malay Sino Chemical Industries Sdn Bhd, Nissan Chemical Corp., Prime Chemicals, PVS Chemicals Inc., Real MetalChem Pvt. Ltd., SC Chimcomplex SA Borzesti, SIDRA Wasserchemie GmbH, Sukha Chemical Industries, Tessenderlo Group NV, Vinayak Industries, VWR International LLC, and Wanhua Chemical Group Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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