Market Size of Ferric Chloride Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ferric Chloride Market Analysis
The ferric chloride market is expected to register a CAGR of more than 5% during the forecast period.
COVID-19 negatively impacted the market. Owing to lockdowns in various countries worldwide, supply chain constraints significantly obstructed the industry's expansion. However, the market recovered last year, and it is expected to grow at a significant rate in the coming years.
- Over the short term, high demand from wastewater treatment plants and increasing stringent norms for treating sewage water and industrial waste to curtail pollution are likely to drive the market's growth.
- On the flip side, stringent regulations imposed on companies during the manufacturing and shipment of ferric chloride products and the presence of substitute products are likely to hinder the market's growth.
- Nevertheless, an untapped market for its application as a catalyst is expected to act as an opportunity for the market.
- Asia Pacific is likely to dominate the market over the forecast period owing to increasing water and wastewater treatment plants in the countries such as China, India, and Japan.
