February 26, 2024
Ferric Hydroxide Market

The global ferric hydroxide market Growth Accelerated by Wide Range of Applications

Ferric hydroxide is a yellow-brown crystalline compound which acts as an effective oxidizing agent and finds various industrial applications. It is commonly used as a coagulating agent in water and wastewater treatment to remove suspended solids and heavy metals from water. Ferric hydroxide helps in clarifying water by neutralizing excess alkalinity and precipitating impurities as ferric hydroxide floc.

The global ferric hydroxide market is estimated to be valued at US$ 4.15 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The wide range of applications of ferric hydroxide across various industries such as water treatment, pigments, petroleum refining, photography and manufacturing of bricks is the major factor responsible for the accelerated growth of this market. Ferric hydroxide is widely used as a coagulant and flocculant in water treatment plants to remove suspended solids, heavy metals, color and toxicity from water. It is also utilized in pigment manufacturing to impart red, brown and orange shades. Increasing global water stress and the need for wastewater treatment have boosted the demand for ferric hydroxide over the recent past. The growth of industries like construction, ceramics and paints & coatings is further propelling the ferric hydroxide market growth.

Segment Analysis

The global ferric hydroxide market can be segmented based on form and application. The powder segment dominates the market as ferric hydroxide in powder form finds wide application in wastewater treatment. It is used as a coagulant and flocculant in the coagulation and flocculation process for water and wastewater treatment. This helps remove contaminants such as suspended solids, colloids, pathogens and heavy metals.

Key Takeaways

The Global Ferric Hydroxide Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The global ferric hydroxide market is estimated to be valued at US$ 4.15 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 to 2031.

Regional analysis: The Asia Pacific region holds the major share in the ferric hydroxide market and is expected to maintain its dominance through the forecast period. China, India and other developing nations in the region are witnessing tremendous urbanization and industrial activity which generate huge amounts of industrial and municipal wastewater. Stringent environmental regulations regarding wastewater discharge are driving the need for advanced water treatment facilities in the region.

Key players: Key players operating in the ferric hydroxide market are Faurecia, Magna International Inc., Lear Corporation, Grupo Antolin, Yanfeng Automotive Interiors, Adient, Grammer AG, Toyota Boshoku Corporation, DRÄXLMAIER Group, IAC Group, Calsonic Kansei Corporation, Sumitomo Riko Company Limited, Sage Automotive Interiors, TS Tech Co., Ltd., Sanko Gosei Ltd. Of these, Faurecia, Magna International and Lear Corporation have a major presence in the global automotive interiors market and are focusing on expanding their product portfolio and customer base.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it