The global ferric chloride market is estimated the ferric chloride market size to grow at a CAGR of 4.6 % during the forecast period 2022-2029.
Ferric chloride is used to remove impurities in water and for wastewater treatment. Combined with use in industrial water applications and the pre-treatment of seawater before desalination. Moreover, wastewater treatment plants use ferric chloride extensively to treat water and meet the required standards.
In addition, with increasing awareness about the need for clean drinking water, especially in developing regions, the demand for ferric chloride is expected to increase during the forecast period.
Furthermore, ferric chloride has higher cost efficiency and better performance characteristics than some of the other water treatment chemicals like ferrous sulphate, polyaluminium chloride and alum. These properties are anticipated to help drive consumption of global ferric chloride market during the forecast period.
Ferric chloride is acidic and corrosive, and this tends to limit the use of ferric chloride in certain industrial wastewater treatment applications where non corrosive alternatives like alum and ferrous sulphate are used. Thus, these properties may have significant impact on the growth of the ferric chloride market during the forecast period.
Moreover, use of ferric chloride for etching of printed circuit boards has increased, this will have a significant impact on the growth of ferric chloride market.
On Basis of Application:
Ferric chloride is used to remove phosphorus from the wastewater. It is used to treat waste and drinking water, though the application technology used for both is different.
It precipitates out the phosphorus into non-soluble forms that become non-usable by plants and microorganisms. Among other applications, water treatment application is expected to be the major consumer in the ferric chloride market.
Geographically, the global ferric chloride market has been segmented into North America, Europe, Asia-pacific ,Africa and others. Among all the regions, Asia-Pacific accounted for the largest market size in terms of consumption of ferric chloride, followed by Europe and North America. With increasing industrial activities in the Asia-Pacific region, the demand for ferric chloride is also expected to grow. Also, with the increasing population and high urbanization rates in the region, the usage of ferric chloride in water treatment is likely to grow significantly.
Furthermore, the ferric chloride market is expected to have robust growth in EMEA region due to increasing demand of coagulants in this region. Ferric chloride market is expected to be stable in the North American region due to increased consumption of ferric chloride in industrial wastewater treatment. Hence the demand for ferric chloride is also projected to be high in these countries.
PVS Chemicals, Kemira, Tessenderlo Group, Feralco Group, Feracid, BASF, Saf Sulphur Factory,borsodchem, Qingdao, Haijing Chemical, and Sukha Chemical Industries.are among the few key operating players in the global ferric chloride market.
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