The most recent study conducted by Report Ocean, titled “Global Ferric Chloride Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Ferric Chloride. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Ferric Chloride Market is valued at approximately USD $ million in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. Ferric chloride iron (3+) chloride (FeCl3) is an orange to brown-black solid that is highly adapted to remove impurities in water and for wastewater treatment. It is non-combustible, sequesters odors, and is slightly soluble in water. The rising focus on wastewater treatment, surging demand for electronic devices, coupled with increasing government support are prominent factors that are fostering market demand across the globe.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to Statista, the global market for water and wastewater treatment was worth around USD 281.75 billion in 2021, which is anticipated to increase and possibly reach USD 489.07 billion by 2029. Therefore, the development of the water and wastewater treatment industry is fueling the demand for ferric chloride, which, in turn, fosters market growth. Moreover, significant advancements in technology by industrial players, as well as a rise in awareness about the need for clean drinking water stipulate various market opportunities in the foreseen years. However, stringent regulations on the production and corrosive and acidic nature of ferric chloride are hindering market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Ferric Chloride Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific dominated the market in terms of revenue, owing to the growth of the water treatment industries, along with the high demand for electronic devices. Whereas, North America is expected to grow with the highest growth rate during the forecast period. Factors such as the increase in the application of the product in pharmaceuticals and the rising need for clean drinking water are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
Kemira
Tessenderlo Group
Chemifloc LTD
Sidra Wassercheime GmbH
Sukha Chemical Industries
BorsodChem
PVS Chemicals
BASF SE
Seqens Group
Feralco AB
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Recent Developments in the Market:
In February 2022, Chimcomplex Borzesti announced the launch of its first issuance of international bonds and intends to invest a capital increase of USD 218.51 million, after being listed on the main market of the Bucharest Stock Exchange. Also, the company initiates a strategic plan of Chimcomplex to offer a total investment of USD 2.43 billion in the chemical industry.
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Grade:
Anhydrous
Ferric Chloride Hexahydrate Lumps
Ferric Chloride Liquid
By Application:
Wastewater Treatment
Potable Water Treatment
Metal Surface Treatment
Electronic Etchants
Reagents
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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