Market Dynamics:

One of the key drivers for the growth of the ferric hydroxide market is the increasing demand from wastewater treatment industry. Stringent regulations regarding industrial wastewater discharge and growing environmental concerns are compelling industries to adopt effective wastewater treatment technologies. Ferric hydroxide plays a vital role in removing phosphorus and other pollutants from wastewater in industries such as power generation, mining, chemical manufacturing, food processing etc. before discharging it into water bodies. Growing industrialization worldwide has significantly contributed to the rising volumes of industrial wastewater which is driving the consumption of ferric hydroxide. According to recent data, industrial wastewater generation is expected to increase by over 70% between 2020 and 2040 which will propel the demand for ferric hydroxide as a coagulant.


SWOT Analysis:

Strength: Ferric hydroxide has a high flocculation capacity and is widely used for water treatment applications. It has a longer shelf life and is cost effective. Ferric hydroxides helps settle particles out of suspension, helping water become clearer.

Weakness: Being an inorganic compound, ferric hydroxide powder is more difficult to handle and transport compared to organic flocculants. It may require higher dosages for effective flocculation.

Opportunity: With growing concerns about water pollution and stringent regulations, the demand for efficient water treatment technologies is increasing globally. This offers opportunities for ferric hydroxide manufacturers to expand in emerging markets.

Threats: The availability and price volatility of iron ore, a key raw material, poses threats. Alternative flocculants like polyaluminum chloride also compete in the market. Strict environment norms in some nations can affect ferric hydroxide use.

Key Takeaways:

The Global Ferric Hydroxide Market Size  is expected to witness high growth over the forecast period of 2023 to 2030. With a CAGR of 5.4%, the market size is projected to reach US$ 3.6 billion by 2024.

Regionally, Asia Pacific currently dominates the market and is expected to maintain its lead position during the forecast years. Rapid industrialization and urbanization in countries like China and India are major demand drivers in the region. Water treatment requirements are increasing at a fast pace due to growing concerns over water pollution.

Key players operating in the ferric hydroxide market are Kemira Oyj, Chemifloc Ltd, BBA Flock, Jupiter Inc., and Hunan Yide Chemical Co. Ltd.

Kemira is one of the largest manufacturers and suppliers of ferric hydroxide globally. The company has a wide production and distribution network across major markets. Chemifloc is an international supplier known for its range of ferric and ferrous coagulants.

Explore more information on this topic, Please visit-
https://www.rapidwebwire.com/ferric-hydroxide-market-size-and-share-analysis-growth-trends-and-forecasts/

Explore more trending article related this topic:
https://masstamilan.in/shipbuilding-an-ancient-industry-still-dominating-global-trade/