Industry Analysis of Ferrous Sulfate in East Asia
Study on Ferrous Sulfate Sales in East Asia by Food Grade, Industrial Grade, and Pharmaceutical Grade from 2023 to 2033
Industry Analysis of Ferrous Sulfate in East Asia Covering Countries Including Analysis of Japan, South Korea, and China
Ferrous Sulfate Sales Outlook for East Asia (2023 to 2033)
Ferrous sulfate demand in East Asia stands at a value of US$ 1.04 billion in 2023 and is projected to rise at 3.7% CAGR from 2023 to 2033. As such, sales of ferrous sulfate in the region are forecasted to reach US$ 1.5 billion by the end of the study period (2023 to 2033).
The growing population of countries in the East Asian region is projected to act as the primary catalyst for ferrous sulfate demand over the coming years. The increasing use of ferrous sulfate in almost all industry verticals is also forecasted to brighten up its demand outlook in the region through 2033. China is projected to be the leading space in East Asia as it utilizes most of the ferrous sulfate produced in the region.
- China accounts for 64.2% of the total ferrous sulfate produced in East Asia in 2023, which amounts to 5,756.5 KT.
- Global ferrous sulfate demand in terms of value and volume will be led by East Asia over the next decade.
| Report Attributes | Details |
|---|---|
| Ferrous Sulfate Sales in East Asia (2023) | US$ 1.04 Billion |
| Projected Sales Value (2033F) | US$ 1.5 Billion |
| Demand Growth (2023 to 2033) | 3.7% CAGR |
| Volume in South Korea (2023) | 1,217.6 KT |
| Demand Growth in Japan (2023 to 2033) | 3.3% CAGR |
| Hydrated Ferrous Sulfate Demand Volume (2033F) | 8,245.4 KT |
| Key Companies Profiled |
|
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Why is East Asia the Leading Regional Market for Ferrous Sulfate?
“Rapid Urbanization and Increasing Investments in Infrastructure Development”
Economies in East Asia are being rapidly urbanized as they focus on boosting their economic growth, which is forecasted to benefit shipments of ferrous sulfate in the long run. Moreover, rising investments in infrastructure development are also set to boost ferrous sulfate sales across the study period as it is used in cement production and manufacturing of different construction materials.
Find more details of aspects such as local supply, pricing trends, product standards, safety regulations, and new developments in this research study for ferrous sulfate by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
Country-wise Insights
Presence of robust manufacturing activity in China makes it the most attractive space for ferrous sulfate companies to invest in the East Asian region. Meanwhile, Japan and South Korea are also projected to offer some rewarding growth opportunities for ferrous sulfate suppliers in the long run.
Why is China Highly Valued by Ferrous Sulfate Manufacturers?
“Availability of Cheap Labor and Raw Materials Attracting Manufacturers”
| Attribute | China |
|---|---|
| Sales Value (2023) | US$ 670.3 Million |
| Demand Growth Rate (2023 to 2033) | 3.8% CAGR |
| Projected Sales (2033) | US$ 976.5 Million |
China has emerged as a popular manufacturing hub for all types of manufacturers in the world owing to the high availability of raw materials and cheap labor. Moreover, the government is also backing manufacturers who choose to do business in China with rewarding incentives and subsidies, making it more worthwhile for ferrous sulfate vendors as well.
Rising demand for iron-rich medications to treat iron deficiency, growing use of ferrous sulfate in fertilizers, and increasing scope of application for ferrous sulfate in different verticals are other factors that could propel shipments of ferrous sulfate in China over the next ten years.
What Makes South Korea an Opportune Country for Business?
“High Incidence of Iron Deficiency Anemia”
| Attribute | South Korea |
|---|---|
| Sales Value (2023) | US$ 141.8 Million |
| Demand Growth Rate (2023 to 2033) | 4% CAGR |
| Projected Sales (2033) | US$ 211.7 Million |
The number of people suffering from iron deficiency anemia is high in South Korea, which in turn, is driving up the demand for iron deficiency medications. Growing demand for iron-rich foods is also estimated to boost the use of ferrous sulfate in food processing and agricultural applications over the coming years. Moreover, rising awareness regarding the benefits of iron on health is also projected to create new opportunities for ferrous sulfate vendors in South Korea.
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Category-wise Insights
Ferrous sulfate manufacturers should focus on supplying industrial-grade ferrous sulfate for use in agrochemical production if they want to assure the best returns in East Asia going forward.
Which Grade of Ferrous Sulfate Holds Sway in East Asia?
“Industrial Grade Ferrous Sulfate Highly Utilized across the Region”
| Attribute | Industrial Grade |
|---|---|
| Market Value (2023) | US$ 824.6 Million |
| Market Growth Rate (2023 to 2033) | 3.7% CAGR |
| Market Value (2033) | US$ 1.19 Billion |
Growing industrialization in East Asian countries and the presence of various industrial establishments in the region are projected to bolster the demand for ferrous sulfate over the coming years. The rising use of ferrous sulfate in water treatment, cement production, and pigment production in East Asia is also predicted to benefit ferrous sulfate sales over the next ten years.
Where Will Most of Ferrous Sulfate Be Used?
“Use of Ferrous Sulfate for Agrochemical Production Holds Prominent Share”
| Attribute | Agrochemical Production |
|---|---|
| Market Value (2023) | US$ 512.9 Million |
| Market Growth Rate (2023 to 2033) | 3.6% CAGR |
| Market Value (2033) | US$ 730.6 Million |
Agriculture is a huge part of East Asian economies such as China and this has always provided a lucrative backdrop for agrochemicals production in the region. Ferrous sulfate is used in the production of fertilizers to nourish soil and plants with iron content. Growing use of compound fertilizers rich in iron, phosphorous, and nitrogen is also forecasted to uplift sales of ferrous sulfate in the East Asian region going forward.
Competitive Landscape
Top ferrous sulfate companies operating in East Asia should be focusing on providing their products for end uses such as agrochemicals production, water treatment, cement production, and pharmaceutical formulation if they want to bolster their presence in this region. South Korea is projected to emerge as a highly opportune space for ferrous sulfate vendors by the end of the forecast period so investing in this country beforehand could pay off big time in the grand scheme of things.
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Segmentation of Ferrous Sulfate Study in East Asia
-
By Product Type :
- Hydrated
- Monohydrate
- Tetrahydrate
- Pentahydrate
- Hexahydrate
- Heptahydrate
- Anhydrous
- Hydrated
-
By Grade :
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
-
By End Use :
- Water Treatment Processing
- Pharmaceutical Formulations
- Agrochemical Production
- Pigment Production
- Cement Production
- Animal Feedstock
- Food Processing
- Others
-
By Country :
- China
- Japan
- South Korea
- FAQs -
What is the ferrous sulfate sales value in East Asia?
Demand for ferrous sulfate in East Asia accounts for a revenue of US$ 1.04 billion in 2023.
What is the predicted sales value for ferrous sulfate?
Sales of ferrous sulfate are expected to reach US$ 1.5 billion by 2033-end.
At what pace will the demand for ferrous sulfate rise in East Asia?
Ferrous sulfate sales in East Asia are set to rise at 3.7% CAGR from 2023 to 2033.
How big is ferrous sulfate demand in China?
Ferrous sulfate sales in China are forecasted to rise at 3.8% CAGR over the next ten years.
Which companies make ferrous sulfate?
Asahi Kasei Corporation, Kanto Chemical Co. Ltd., Guangxi Huaian Chemical Co. Ltd., and Mitsubishi Chemical Corporation are key suppliers of ferrous sulfate.
Industry Analysis of Ferrous Sulfate in East Asia