Ammonium ferric citrate is a reddish brown colored crystalline powder. Ammonium ferric citrate is totally soluble in water but insoluble in alcohol. Ammonium ferric citrate is prepared by reaction of ferric hydroxide with aqueous solution of citric acid and ammonia. Ammonium ferric citrate is a multi-functional compound, which serves many end-user industries such as food & beverage, pharmaceutical, photographic printing, wastewater management and metal processing among others. Ammonium ferric citrate is used as a food additive during food & beverage processing for the purpose of acid regulation and as an iron supplement. The pharmaceutical industry employs ammonium ferric citrate as an intermediate in drug processing and as a contrast agent in medical imaging. Ammonium ferric citrate acts as a reducing agent thus suppressing salt formation in metals such as gold and silver. Moreover, ammonium ferric citrate is used for water purification and to make blue prints required in printing process.
The demand for ammonium ferric citrate is driven by increased consumption in pharmaceutical and food & beverage industries. Food & beverage industry uses ammonium ferric citrate for making iron supplementary beverages. These supplements are generally given to children having iron deficiency. Iron deficiency affects the physical as well as mental growth in children which ultimately results in diseases such as anemia and other abnormalities. Ammonium ferric citrate on consumption easily synthesizes into iron and gets readily absorbed into the blood. Moreover, ammonium ferric citrate acts as an acid regulator for changing or neutralizing the pH levels, hence is suitably used in manufacturing of food products. In pharmaceutical industry, ammonium ferric citrate is used mainly in medical imaging. Ammonium ferric citrate acts as a contrast agent, which improves the visibility of blood vessels for better health diagnosis. Magnetic resonance imaging and X-ray attenuation techniques are considered as major medical imaging applications for ammonium ferric citrate.
In terms of global demand, Asia Pacific is likely to show the fastest growth for ammonium ferric citrate by the end of forecast period. Demand for ammonium ferric citrate is expected to grow, owing to increasing developments in pharmaceutical industry among other end-users. China is currently one of the major producer and distributor of ammonium ferric citrate. China distributes ammonium ferric citrate to various regions such as Europe and South America. Meanwhile, India has good international market for ammonium ferric citrate, owing to its good distribution network mainly in North America. China is likely to lead followed by India and Japan by the end of 2020. Other Asia Pacific countries including Singapore and Vietnam are anticipated to have emerging ammonium ferric citrate market, in the coming years. Considering the food additives market, present scenario reflects no threat of replacement for ammonium ferric citrate, which can be considered as a driving factor for the growth of ammonium ferric citrate. Owing to such a situation, India is expected to lead by the end of forecast period. Rest of the world region is anticipated to illustrate a slow paced growth in demand for ammonium ferric citrate over the coming years. Brazil and South Africa are expected to provide better opportunities for the ammonium ferric citrate market by 2024. North America and Europe are expected to depict a sluggish growth by 2024, owing to their established markets and heavy regulations on production of ammonium ferric citrate.
Some of the major players dominating the ammonium ferric citrate market include Shreenath Chemicals, West Bengal Chemical Industries Limited, New Alliance Dye Chemicals Private Limited and Eminenco Pharma Limited.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.