The latest market research report by Technavio on the global ferric chloride market predicts a CAGR of around 5% during the period 2018-2022.
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Technavio has published a new market research report on the global ferric chloride market from 2018-2022. (Graphic: Business Wire)
The report segments the global ferric chloride market by application (wastewater treatment, PCBs, and others) and by geography (the Americas, APAC, and EMEA). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global ferric chloride market, according to Technavio chemicals and materials researchers:
- Increase in demand for wastewater reuse: a major market driver
- In 2017, the wastewater treatment segment dominated the market by occupying almost 82% share
- EMEA dominated the global ferric chloride market with over 41% share in 2017
- BASF, BorsodChem, DowDuPont, Kemira, PVS Chemicals, and Tessenderlo Group are the leading players in the market
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Increase in demand for wastewater reuse: a major market driver
Increase in demand for wastewater reuse is one of the major factors driving the global ferric chloride market. Industries discharge water that contains contaminated inorganic compounds that are toxic and can impact the marine eco-system if it is released into water-bodies in an untreated form. Mandatory guidelines from various regulatory bodies including the Environmental Protection Agency (EPA) make the treatment and reuse of industrial water compulsory. This has led to an increase in demand for ferric chloride.
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EMEA: largest ferric chloride market
Technavio researchers anticipate high growth for the global ferric chloride market in EMEA due to its use as a coagulant for waste or sewage water treatment, and for the production of potable water.
According to a senior analyst at Technavio for research on specialty chemicals, “Ferric chloride also finds use as an etchant in PCBs and in the production of specialty pigments. Chemical processing, oil and gas, power, petrochemical, dairy industries discharge high volumes of water. Hence, ferric chloride has wide applications in the region as a water treatment agent.”
Competitive vendor landscape
The ferric chloride market appears to be fragmented due to the presence of several players. The major vendors in the market such as BASF, BorsodChem, DowDuPont, Kemira, PVS Chemicals, and Tessenderlo Group compete against each other based on factors such as price, quality, regulatory compliance, and innovation. To sustain in the highly competitive ferric chloride industry, players must focus on innovation and R&D to develop more efficient processes.
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