Ferric hydroxide is a chemical compound that is widely used in water treatment as coagulants. It helps in removal of solid impurities, organic compounds, and other contaminants from water. Ferric hydroxide also finds applications in manufacturing of pharmaceutical pills and capsules as it inhibits the oxidation process.
The global Ferric Hydroxide Market is estimated to be valued at US$ 3.6 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Pharma grade ferric hydroxide is widely used as inactive ingredients in formulations of dietary supplements and over-the-counter products due to its oxidation inhibiting properties. It prevents medication from degrading due to air/moisture exposure and extends the shelf life of products. Growing health supplement industry is therefore driving higher demand for ferric hydroxide.
Content: The ferric hydroxide market can be segmented by form into powder and granular. Among these, the powder segment dominates the market and accounts for around 60% share due to its wide application in water treatment. Ferric hydroxide in powder form is used as a coagulant in water treatment plants to remove impurities from water bodies.
The Global Ferric Hydroxide Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing awareness about water treatment.
Regional analysis: North America dominates the global market, accounting for over 30% share due to stringent regulations regarding water treatment. Asia Pacific exhibits the fastest growth due to growth in industries and rising focus on water treatment in countries like China and India.
Key players: Key players operating in the ferric hydroxide market are BASF SE, DuPont, American Elements, Cabot Corporation, ZeniMac Exim, Southern Carbon Chemical, Reade Manufacturing Company, and The Shepherd Chemical Company. BASF SE and DuPont are the market leaders owing to their wide product portfolio and global presence.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it