Rockville , Oct. 19, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the industry analysis of ferrous sulfate in East Asia is expected to rise at a CAGR of 3.7% to hit a value of US $1.5 Billion by late 2033.
Ferrous sulfate, also known as iron (II) sulfate, is a cost-effective and versatile chemical compound widely used in various industries. It is favored for its high solubility in water, making it easy to mix with fertilizers for efficient plant uptake. Moreover, it provides iron in a form readily absorbable by plants and animals, making it effective in treating iron deficiencies. Ferrous sulfate is stable in dry form, easy to store, and has a lower environmental impact compared to some alternatives.
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The growth of the ferrous sulfate industry in East Asia is primarily driven by increasing demand in the agriculture sector. Ferrous sulfate is a crucial component of fertilizers, addressing iron deficiencies in plants and thereby enhancing crop yields and quality. In the East Asian ferrous sulfate industry, the availability and price fluctuations of essential raw materials like iron ore and sulfuric acid are pivotal factors. These raw materials are crucial for ferrous sulfate production. East Asia boasts diverse political landscapes. The policies and stability of governments in this region significantly influence the ferrous sulfate industry.
| Report Attribute | Details |
| Value Projection (2033) | US$ 1.5 Billion |
| Growth Rate (2023-2033) | 3.7% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 39 Tables |
| No. of Figures | 54 Figures |
Key Takeaways:
- The market in Japan is anticipated to grow at a CAGR of 3.3% during the forecast period (2023 – 2033).
- The South Korean market is likely to rise at a CAGR of 4% to reach a value of US $211.7 Mn by the end of 2033. The heightened demand for iron deficiency medications in South Korea is primarily attributed to the significant number of individuals suffering from iron deficiency anemia in the country.
- Industrial-grade ferrous sulfate is expected to witness a strong market share due to the rising use of ferrous sulfate in water treatment and pigment production in East Asia.
The increasing demand for fertilizers and animal feed supplements, the expansion of the steel and construction sectors, and a growing emphasis on sustainable agriculture practices are key factors driving the market growth - Says FACTMR Expert
Key Companies Profiled in This Report
- Asahi Kasei Corporation
- Kanto Chemical Co. Ltd.
- Guangxi Huaian Chemical Co. Ltd.
- Mitsubishi Chemical Corporation
- Sumitomo Chemical Corporation
- Shandong Dongda Chemical Co. Ltd.
- Shanghai Chemical Reagent Co. Ltd
- Chongqing Chemical Reagents Co. Ltd.
- Lotte Chemical Corporation
Market Competition
In this intensely competitive environment, leading companies are concentrating on supplying their products for various applications such as agrochemical production, water treatment, and cement production.
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Winning strategies
- In the East Asian ferrous sulfate industry, establishing strong partnerships with trusted suppliers of crucial raw materials like iron ore and sulfuric acid is a smart strategy. This ensures a steady and cost-effective supply chain, vital for uninterrupted production and meeting customer demands.
- Key players in the industry should dedicate resources to research and development. This effort is crucial for crafting specialized versions of ferrous sulfate tailored for specific purposes, like fortifying micronutrients in agriculture or creating supplements for animal feed.
- Mastering the art of efficient logistics and distribution is key in the ferrous sulfate industry. This means ensuring products are delivered on time, reducing transportation costs, and shortening the time it takes to get products from production to delivery.
Explore More Related Studies Published by Fact.MR Research:
Industry Analysis of Ferrous Sulfate in North America: Demand for ferrous sulfate is forecasted to reach a value of US$ 895.5 million by 2033-end.
Industry Analysis of Ferrous Sulfate in Europe: Sales of ferrous sulfate in the European region are predicted to reach US$ 944.1 million by 2033.
Industry Analysis of Ferrous Sulfate in Latin America: Revenue from ferrous sulfate sales in Latin America is forecasted to reach US$ 143.9 million by 2023.
About Fact.MR:
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