During the first half of 2023, the Asian ferric sulfate market faced challenges driven by sulfuric acid’s consistent price declines, upon which ferric sulfate pricing heavily depends. In the initial quarter, increasing sulfuric acid inventories and limited support from both downstream and upstream industries impacted the market. The second quarter witnessed struggles in Japan’s fertilizer and agricultural sector, further affecting ferric sulfate prices.
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In Europe, despite improved export rates in Q1, a sluggish regional economy posed hurdles for the ferric sulfate market. Rising inventories, lackluster demand from downstream sectors, reduced consumption, and declining sales in fertilizer and refining industries collectively pushed ferric sulfate prices into negative territory throughout 2023. North America experienced declining ferric sulfate prices in Q1 due to high inventory levels and uncertainties in downstream markets. While the fertilizer and chemical industries improved in Q2, prices continued to decrease, influenced by persistent stockpiles, reduced investor interest, and uncertain performance in the American energy sector.
Definition
Ferric sulfate is a chemical compound with the formula Fe2(SO4)3. It is a reddish-brown, water-soluble solid that contains iron in its +3 oxidation state. Ferric sulfate is commonly used in water treatment processes as a coagulant to remove impurities, such as heavy metals, from wastewater. It also finds applications in industries like textiles, mining, and electronics for various purposes, including metal etching and wastewater treatment. Its properties include its ability to form reddish-brown solutions in water, and it plays a crucial role in the precipitation and removal of contaminants in industrial processes.
Key Details About the Ferric Sulfate Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Ferric Sulfate in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Ferric Sulfate Price Trends, including India Ferric Sulfate price, USA Ferric Sulfate price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Ferric Sulfate Price Trend:
Ferric sulfate (Fe2(SO4)3) boasts diverse industrial applications. In water treatment, it serves as a coagulant, aiding the removal of impurities like heavy metals in both municipal and industrial wastewater. The textile industry uses it in the dyeing process, while mining operations employ it to control dust and extract valuable minerals. In electronics, ferric sulfate is utilized for etching copper and aluminum in circuit board production. Furthermore, it assists in removing ink and coatings from recycled paper in the paper and pulp industry. These varied applications highlight the versatility of ferric sulfate as a valuable chemical compound in multiple industrial sectors.
Key Players:
- Pencco Inc
- Altivia Chemicals LLC
- Hunan Yide Chemical Co Ltd
- Lubon Industry Co Ltd
- Chemtrade Logistics Inc
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