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Ferric Chloride Market Research | Types, Region And Competition Analysis With Forecast To 2023
ferric chloride market include Tessenderlo Group (Belgium), Kemira (Finland), Chemifloc LTD (Ireland), Gulbrandsen (US), KEM ONE (France), Sidra Wassercheime GmbH (Germany), Malay-Sino Chemical Industries SDN. BHD (Malaysia), Sukha Chemical Industries (India), PVS Chemicals (US), BorsodChem (Hungary), BASF SE (Germany), Feralco AB (France), Seqens Group (France), and Saf Sulphur Company (Saudi Arabia), among others.
Industry/ Innovation/ Related News
April 24, 2019 ---- ALTIVIA (the US), a water treatment chemical producer and the largest merchant producer of Phosgene derivative intermediates in the Americas, announced the expansion of its specialty chemicals production capacity at its Phosgene Derivatives Unit in Texas. The new multipurpose production unit will result in a 30% increase in capacity for the production of acid chlorides and chloroformates. The new reactor system and its multipurpose design will further expand ALTIVIA's continuous phosgenation capabilities and improve production flexibility to meet the growing and changing customer demands.
The global ferric chloride market is expanding rapidly, mainly due to the extensive consumption of ferric chloride in pharmaceuticals and wastewater treatment industry. Moreover, widespread usages of ferric chloride in chemicals and electronics industry accelerate the growth of the market, hugely. Simultaneously, Industries such as metals & metallurgy and potable water treatment create substantial market demand, globally.
According to Market Research Future (MRFR), the global ferric chloride market is expected to garner enormous accruals by 2024.
In its recently published analysis, MRFR also asserts that the already booming Ferric Chloride Market Forecast would register a CAGR over 4.65% by the end of 2024.
Increasing awareness towards the clean drinking water and the sewage water released to water bodies is a key driving force impacting the growth of the market.
Additionally, ferric chloride is widely used as an etching agent in PCBs, which further boost the growth of the market. Furthermore, increasing demand for ferric chloride in pigment manufacturing and catalyst applications are expected to create lucrative opportunities for the market players. Some of the burgeoning end-use industries, including healthcare and electronics, among several other sectors, are escalating the market on the global platform.
On the other hand, the corrosive and acidic nature of ferric chloride, inhibits the growth of the market, restricting its usage in certain water treatment plants. Also, stringent regulations imposed by the governments on the production & shipment of ferric chloride and its dispersion into a glass or plastic containers would further restrain the market growth.
Global Ferric Chloride Market Competitive Analysis
The ferric chloride market appears to be highly competitive due to the presence of several large and small-scale players. Pricing, technology, and services are the three major parameters these key players compete based on. Furthermore, these players incorporate strategic initiatives, such as mergers & acquisitions, collaboration, expansion, and product/technology launch to gain a subaerially larger competitive advantage in the market.
Manufacturers strive to deliver the best quality ferric chloride developed using innovative technologies, and best practices. High growth potential demonstrated by the market attracts many entrants to the market, which is intensifying the market competition further. There will be immense growth opportunities for manufacturing companies to capture the market.
Global Ferric Chloride Market - Segments
The report is segmented into four market dynamics to widen the scope of understanding,
By Grade: Ferric Chloride Hexahydrate Lumps, Anhydrous, Ferric Chloride Liquid
By Application: Wastewater Treatment, Metal Surface Treatment, Potable Water Treatment, Electronic Etchants, Printed Circuit Boards (PCBs), Pigment Manufacturing, Catalyst, and Asphalt Blowing, among others.
By End-use Industry: Pharmaceuticals, Chemicals, Electronics, Metals & Metallurgy, Municipal Wastewater Treatment, and Municipal Potable Water Treatment, among others.
By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW).
Global Ferric Chloride Market -Regional Analysis
The Asia Pacific region dominates the global ferric chloride market with the largest market share. Massive consumption of ferric chloride in rapidly growing industries such as water treatment and electronics drive the growth in the regional market. Moreover, increasing application areas in metals and metallurgy industry propel the regional market growth.
China accounts for the largest ferric chloride market in the region due to the increasing demand for the substrate in the etching of PCBs. South Korea, Japan, Malaysia, and India, are other countries contributing to the growth of the regional market. In sync with similar growth trends, the APAC ferric chloride market is predicted to grow with a phenomenal CAGR over the review period (2017 to 2024).
Europe ferric chloride market is another lucrative market, globally. High consumption potential due to the presence of major end-use industries is a dominant factor impacting the market growth in the region. Besides, the burgeoning pharmaceuticals and potable water treatment industry are creating a significant market demand in the region. Germany, backed by the growing demand for the product in pigment manufacturing, contributes to the regional market, majorly. Also, countries such as France, Italy, Hungary, and Belgium contribute to the regional market growth substantially.
The ferric chloride market in North America is emerging as a profitable market globally. Increasing application of the substrate in the pharmaceuticals and wastewater treatment sector fosters the growth of the regional market. Also, surging demand for ferric chloride in sewage and industrial wastewater treatment propels the regional market growth. The US is the largest market in the region. Due to the high consumption potential, increasing production capacities, and well-developed economy, the region is predicted to garner tremendous gains over the forecast period.
Access Report Details @ https://www.marketresearchfuture.com/reports/ferric-chloride-market-8029
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