Middle East and Africa ferric chloride market is forecast to grow appreciably in the years to come owing to high product usage as an etchant in numerous metals, as a catalyst to surge the rate of chemical reactions, and in horse feed as additives. Rise in utilization of ferric chloride mainly in chemical electronics, wastewater treatment, and pharmaceutical end-user industries will also accelerate the MEA ferric chloride market growth.
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Ferric chloride or iron chloride is an orange to brown black like solid. It is an industrial scale commodity compound which is somewhat soluble in water and is noncombustible. The chemical formula of Ferric Chloride is namely FeCl3.
The MEA ferric chloride market is bifurcated into various segments in terms of form, application, end-use, and regional landscape.
Based on form, the MEA market for ferric chloride is classified into lump, liquid, and powder. Ferric Chloride market by lump form segment is estimated to witness a 5.6% CAGR over the forecast time period.
With respect to application, the market is categorized into metal surface treatment, chemical intermediates, electronic etchants, specialty pigment, municipal wastewater, potable water, industrial wastewater, and others. Ferric chloride by specialty pigment segment is projected to witness a 6.8% CAGR over the forecast time period.
Electronic etchants application segment will witness robust demand over the forecast time period. In fact, ferric chloride solution is widely used as an etchant in metals such as copper, silver, and brass further stimulating the overall market growth. The chemical intermediates are likely to witness immense growth as it is used as a catalyst to increase the rate of chemical reactions thus raising the product demand from chemical intermediates segment.
Meanwhile, in 2020, metal surface treatment application segment accounted for $12 million and is estimated to see robust growth over the coming years. Ferric chloride in others segment is extensively used in horse feed in the form of additives which will drive the product demand from animal feed industry.
In terms of end-use, the overall MEA ferric chloride market is segmented into metal & metallurgy, chemical electronics, pharmaceutical, wastewater treatment, and others. The wastewater treatment segment is expected to hold significant share of the overall ferric chloride market during the forecast period. In fact, ferric chloride is widely used as flocculant and coagulant in the treatment of wastewater.
Ferric chloride is majorly used as an etchant in production of microelectronics and circuit boards which is likely to boost the product demand from chemical electronics segment. Meanwhile, the metal and metallurgy application segment will account for more than $18 million by the end of 2026. The others segment is expected to witness around 5.8% CAGR through the analysis time period.
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On the geographical front, ferric chloride market in Africa is likely to witness a respectable CAGR of over 7.5% through the forecast time period.