Rising health concern and increasing water scarcity has led reuse of wastewater will escalate the demand for water cleansing agent which should foster MEA ferric chloride market growth, says this report.
Selbyville, Delaware, March 08, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the Ferric Chloride Market size in Middle East & Africa was estimated at $200 million in 2019 and is slated to surpass $300 million by 2026, registering a CAGR of 6.6% from 2020 to 2026 owing to its wide application in wastewater treatment plants. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
The liquid ferric chloride market is estimated to be around CAGR 6.5% by 2026 owing to its application as a surface removal agent on semiconductors of electronic devices. Rising consumer demand for compact and smart electronic devices should boost the demand for ferric chloride for etchant application on semiconductors which should augment the MEA ferric chloride market share.
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In 2020, the industrial wastewater application segment was estimated to be over USD 14 million which shows a huge opportunity for product market growth. Rapid industrialization in developing countries like Qatar and UAE should raise the MEA ferric chloride market demand for industrial wastewater treatment. Industries are rapidly adopting wastewater treatment process to meet industrial sewage disposal standards.
The increased volume of wastewater from the agriculture industry has led to increased application of the product for the removal of organic matter from the water as it acts as a coagulant and flocculant. Growing preference for reuse of wastewater for irrigation along with rising government regulations for wastewater treatment should stimulate the MEA ferric chloride market growth.
The pharmaceutical application segment is estimated to be over USD 2 million in 2020 and is projected to be over by CAGR 5% by 2026 owing to its wide demand for the production of iron-bearing medicines used for anemia. Anemia is the major problem in developing countries and for populations with low income which should raise the demand for anemia treatment tablets which in turn should drive the MEA ferric chloride market growth.
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Qatar region was estimated to be over USD 2 million in 2020 which shows positive impact for the product market growth in coming years. The rising number of women and infants with anemia problems due to lack of intake of nutritional diet should augment the market revenue of MEA ferric chloride by the pharmaceutical application.
Some of the key players in the ferric chloride industry in the Middle East & Africa region are Borsod Chem, Kemira, Tessenderlo Group, Chemifloc, Sat Sulfhur Company, BASF and Feracid, Agua Chem Ltd. Major players are focusing on strategic initiatives such as mergers, acquisitions, joint venture, new product development and investment in research and development.
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