The latest market report published by Credence Research “Global Iron Chloride Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The global Iron Chloride market generated revenue of around USD 456.2 million in 2020 and anticipated to grow at a CAGR of over 3.9% during the forecast period from 2021 to 2027 to reach around USD 596.3 million in 2027.
Global Iron Chloride Market, 2020 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/iron-chloride-market
Iron Chloride is a chemical compound that generally has formula FeCl2. It is a type of paramagnetic solid which has high melting point. Ferric Chloride colour varies with change in viewing position or angle by light reflected through the crystals appear dark green, but by light transmitted they appear purple-red. Ferrous Chloride is a powder available in white or off white colour. In contact with water it crystallizes as greenish tetrahydrate. It is most commonly used in laboratories.
Key Trends in Global Iron Chloride Market
Increase in water borne diseases
Waterborne diseases are caused by a toxic contaminants, microorganism, and biotoxins in water which causes diseases like schistosomiasis, cholera and other gastrointestinal problem. Waterborne diseases outbreaks generally occur after a severe precipitation event. Climate change is likely to boost diarrheal disease incidence worldwide, and extreme weather conditions may also complicate inadequate prevention efforts. Iron chloride is used to treat the contaminants, microorganism and biotoxin in water. Also, the increase in pollution of water is anticipated to grow the chances of waterborne diseases. The increase in incidence of waterborne disease is anticipated to drive the demand for iron chloride market.
Impact of COVID 19 on Global Iron Chloride Market
COVID 19 situation has affected various industries in various ways. There are hardly any industries which were not affected by the COVID 19 pandemic. COVID-19 affected the global economy in three main ways: by creating supply chain disruption and market disruption, by directly affecting demand and production, and by its financial impact on firms and financial markets. The demand for Iron Chloride was affected during the COVID 19 pandemic. Various rules and regulations regarding the lockdown and trade are anticipated to mainly affect the growth of the Iron Chloride market in COVID 19. The regulations regarding to the production units in various regions have hampered the growth of the Iron Chloride market.
Global Iron Chloride Market by Product Type Insights
Ferric chloride and ferrous chloride are main product type of Iron Chloride market. Ferric chloride is anticipated to dominate the market owing to its use in various industries such as water management, textile, pharmaceutical, etc. Also the focus of companies in production and use of ferric chloride due to its advantages over ferrous chloride is anticipated to fuel the demand for ferric chloride.
Ferric Chloride segment to dominate the global Iron Chloride Market
Global Iron Chloride Market by Product Type, 2020
Global Iron Chloride Market by Application Insights
Global Iron Chloride market is segmented based on application industries such as Water and Sewage Industry, Metal Surface Treatment Industry, PCB Industry, Pigment Industry and Others. Water and sewage industry segment is expected to show high growth rate in the forecast period owing to the rise in concerns due to water cleanliness, depletion in usable water resources and increase in water pollution concerns owing to the waste disposal methods.
Global Iron Chloride Market Share by Application, 2020
Global Iron Chloride Market by Regional Insights
The largest market for Iron Chloride is North America which accounted for approximately 39% of the total revenue generated. In the U.S., iron chloride is mainly used to treat portable water and waste water. Presence of various major companies such as Veolia, Suez, etc. operating in treatment of wastewater industry is anticipated to fuel the growth of North American market. Asia Pacific is anticipated to show high growth rate owing to economic and population expansion in countries like China, Japan, India, etc. Also rapid industrialization, rise in pharmaceutical and textile industries is fueling the demand for Asia Pacific Iron Chloride market.
Global Iron Chloride Market Competitive Landscape
The main players of the global Iron Chloride market include BASF, Kemira, Tessenderlo Group, PVS Chemicals, Feralco Group, Chemiflo, SIDRA Wasserchemie, Gulbrandsen, AkzoNobel Industrial Chemicals, BorsodChem, Philbro-Tech, Malay Sino Chemical Industries, and Others The report covers detailed profiles of the key players.
Global Iron Chloride Market, Company Distribution Network, 2020
Global Iron Chloride Market by Product, 2015 – 2027
· Ferric Chloride
· Ferrous Chloride
Global Iron Chloride Market by End User, 2015 – 2027
· Water and Sewage Industry
· Metal Surface Treatment Industry
· PCB Industry
· Pigment Industry
Global Iron Chloride Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Iron Chloride Market: Key Players
· Tessenderlo Group
· PVS Chemicals
· Feralco Group
· SIDRA Wasserchemie
· AkzoNobel Industrial Chemicals
· Malay Sino Chemical Industries