Ferric hydroxide-based products such as yellow iron oxides/iron (III) oxide hydroxide are extensively used in the construction industry to manufacture concrete products such as bricks, blocks, decorative concrete, paving stones, ready-mixed concrete, and roofing tiles. Increasing population in developing countries is a major contributor to residential construction growth. Rapid expanse of the construction industry will boost the growth of the ferric hydroxide market. Numerous local/regional players are offering their products to the construction industry through innovative sales channels. Ferric hydroxide market is expected to witness significant growth in the Asia Pacific region on the back of the expanding construction industry in India and China.
Projected to reach the US$ 1 Bn mark by 2029 end, the global ferric hydroxide market is set for healthy progress at a CAGR of 5% during 2019 - 2029. Geographical analysis of the market reveals that East Asia and North America will continue to capture around 50% revenue share in the global ferric hydroxide market.
Growing Application of Yellow Iron Oxide in Paints & Coatings
Ferric hydroxide-based yellow iron oxide (Iron (III) oxide-hydroxide) is significantly used in paints & coatings industry for various purposes. Yellow iron oxide is widely used in the manufacturing of pigments and various types of coatings such as architectural & decorative coatings, automotive and commercial vehicle coatings, industrial coatings, anti-corrosive paints, etc. Moreover, the use of yellow iron oxide pigments is increasing, owing to its cost-effectiveness as compared to organic pigments. Inorganic pigments are comparatively more popular in North America and Europe.
Moreover, ferric hydroxide-based products are also used in other applications such as colorants for ceramics, paper, rubber, plastics, glass, and textiles, animal feed, cosmetics, fertilizers, industrial chemicals, and others. Numerous market players are offering application-specific yellow iron oxide as color additive for various uses such as cosmetics, food, paper, etc. Hence, the high use of ferric hydroxide in various applications is estimated to positively shape the ferric hydroxide market growth.
Application of Ferric Hydroxide in Wastewater Treatment
To abate water pollution, many governments are implementing stringent wastewater treatment policies. Various industries such as chemical, pharmaceutical, oil & gas, paper & pulp, and others, are using chemicals for sustainable treatment of water. Ferric hydroxide granules are becoming more popular for reducing concentration of toxic metals such as arsenic, copper, zinc, etc., in industrial water due to its specific chemical properties.
Furthermore, ferric hydroxide is used in various water treatment applications such as removal of unwanted substances from mineral water, ground water remediation, treatment of spring water and therapeutic water, etc. As a result, growing water treatment industry is forecasted to accelerate the growth of the ferric hydroxide market.
Ferric Hydroxide Market Structure Remains Fragmented
The global ferric hydroxide market has a fairly fragmented competition landscape, where a number of manufactures are focusing on expanding their inorganic oxides business through expansions, joint ventures, and solid distribution partnerships. Some of the global and regional manufacturers of ferric hydroxide are prioritizing product developments to increase offerings to the water treatment industry. To gain significant market share, manufactures may continue to focus on inorganic growth strategies such as acquisitions, expansions, product innovations, etc.
Persistence Market Research (PMR) recently published a study report on the global ferric hydroxide market. The report provides detailed valuation on key market dynamics such as drivers, trends, opportunities, and restraints, along with detailed information about the ferric hydroxide market structure. This market research report presents exclusive facts and figures about how the ferric hydroxide market will grow over the forecast period.
Key indicators of market growth, such as supply chain and value chain analysis, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the ferric hydroxide market over the forecast period.
The study is relevant for stakeholders in the ferric hydroxide market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Industry experts, researchers, stakeholders, investors, and journalists, as well as business researchers in the ferric hydroxide market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the macro as well as microeconomic factors that are impacting the growth of the ferric hydroxide market. The study also offers actionable insights based on the future trends in the ferric hydroxide market. Furthermore, regional players/local players and new entrants in the ferric hydroxide market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Ferric Hydroxide Market
PMR’s study on the ferric hydroxide market is divided into three significant segments- product form, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Ferric Hydroxide Market Report
Ferric Hydroxide Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the ferric hydroxide market and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.
Secondary resources referred by analysts during the evaluation of the ferric hydroxide market study comprise of the facts and figures from World Bank, OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, product portfolio managers, sales operation managers, senior managers, marketing/product managers, market intelligence managers, and production managers to provide insightful information.
Comprehensive information acquired from primary resources and secondary resources is validated from companies operating in the ferric hydroxide market to make PMR’s projection on growth prospects of the ferric hydroxide market more accurate and reliable.