Global Ferric Chloride Market 2018-2022
About Ferric Chloride
Ferric chloride is used to treat process water (water that cannot be classified as drinking water is known as process water), effluent water, and raw water to remove the organic and inorganic particles such as dirt, hazardous substances, and oxides of metals. Water treatment plants use ferric chloride extensively to treat water and meet the required standards. The treatment process consists of both chemical and physical methods. Ferric chloride is used for the following types of wastewater treatments: Sanitary wastewater treatment, Effluent water treatment, Raw water treatment, and Drinking water treatment.
Technavio’s analysts forecast the global ferric chloride market to grow at a CAGR of 4.96% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global ferric chloride market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ferric Chloride Market 2018-2022
Technavio recognizes the following companies as the key players in the global ferric chloride market: BASF, BorsodChem, DowDuPont, Kemira, PVS Chemicals, and Tessenderlo Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is spot basis pricing preference for ferric chloride. Consumers prefer spot basis pricing as their requirement for ferric chloride fluctuates, and the prices include taxes, production cost, and freight charges. If ferric chloride is bought on a contractual basis: then this change in price does not imply. Contracts are made annually, and the contract prices do not change with changes in the prices of raw materials. Buyers and traders prefer spot basis pricing system as the margins for revenues are high, and the prices are proportional to the changes in the market price. In the case of a contract system, the consumers have the liberty to negotiate the prices that are listed as the suppliers offering the least price is offered the contract. In the case of spot basis pricing, the price is fixed, and the consumers cannot negotiate on the price.”
According to the report, one driver in the market is increase in demand for wastewater reuse. Industries discharge wastewater that contains contaminated inorganic compounds that can have toxic effects on the marine life and cause serious water pollution if released untreated into rivers, ponds, or lakes. Mandatory guidelines by various regulatory bodies including the Environmental Protection Agency (EPA) make the treatment and reuse of industrial wastewater compulsory. The use of ferric chloride for the treatment of wastewater is the key reason for its high demand. This is critical in countries where there are scarce resources for drinking water but abundant seawater such as in the Middle East.
BASF, BorsodChem, DowDuPont, Kemira, PVS Chemicals, and Tessenderlo Group.
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