COVID-19 Impact on Ferrous Oxalate Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the ferrous oxalate market.
Key Drivers and Restraints of Ferrous Oxalate Market
- Ferrous oxalate is used as photographic developer for silver bromide-gelatin plates and for decorative glassware. It is also used as tint to optical glass (sunglasses, windshields, and railroad car windows). Rise in demand for decorative glassware, fashionable sunglasses, and railroad car windows is expected to fuel the global ferrous oxalate market in the next few years.
- Ferrous oxalate is primarily used in the paints & lacquer sector, due to superior color & protection that it offers to structures. Ferrous oxalate is used in pigments in the manufacture of plastics, paints, and lacquer. Increase in demand for paints and lacquers is expected to fuel the global ferrous oxalate market in the next few years.
- Significant investments have been witnessed in various end-use industries in the last few years. This coupled with improvement in economic conditions in developing economies is anticipated to boost the global ferrous oxalate market in the near future.
- Availability and rise in usage of substitutes of ferrous oxalate are expected to hamper the ferrous oxalate market in the near future
Ferrous Oxalate: Application Segment
- Based on application, the global ferrous oxalate market can be segmented into photographic developer, pigment, pharmaceutical, raw material of anode material lithium iron phosphate, and others
- The photographic developer segment is projected to gain higher share of the global market during the forecast period. Demand for ferrous oxalate is high in decorative glassware, fashionable sunglasses, and railroad car windows across the globe. This is projected to boost the global market for ferrous oxalate in the next few years.
- The pharmaceutical segment is also projected to hold key share of the global ferrous oxalate market in the near future. Increase in usage of ferrous oxalate in the formation of anti-anemic drugs is anticipated to propel the global ferrous oxalate market during the forecast period.
Asia Pacific to Hold Leading Share of Ferrous Oxalate Market
- In terms of region, the ferrous oxalate market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global ferrous oxalate market, followed by Europe and North America, during the forecast period. Rise in demand for paints & pigments in the construction sector in China, Japan, and India is expected to create lucrative opportunities for the market. Furthermore, presence of large manufacturing companies is likely to boost the ferrous oxalate market in Asia Pacific during the forecast period.
- Increase in R&D activities in medical and pharmaceutical sectors is a major factor anticipated to drive the market in Asia Pacific during the forecast period
- The ferrous oxalate market in Latin America and Middle East & Africa is projected to expand at a moderate pace in the near future. Ferrous oxalate is imported into countries such as Brazil, Mexico, and South Africa, due to limited presence of manufacturing companies in these countries.
Key Manufacturers Operating in Ferrous Oxalate Market
The ferrous oxalate market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the ferrous oxalate market include:
- Hubei Wanrun New Energy Technology Development
- Luotian Yongfei Chemical
- Hunan Heaven Materials Development
- Chongqing Southern Chemicals
- Dr Paul Lohmann GmbH KG
- Hefei Asialon Chemicals
- ShanXi Yuanping Chemical Industries Corp
- Celtic Chemicals
- Youlian Chemical
- Langfang Pengcai Fine Chemical
- Hunan Joyfly New Material
- ShanDong JiangYuan Refined Chemical Sika AG
Ferrous Oxalate Market: Research Scope
Ferrous Oxalate Market, by Form
Ferrous Oxalate Market, by Grade
- Regular Grade
- Battery Level Grade
Ferrous Oxalate Market, by Application
- Photographic Developer
- Raw Material of Anode Material Lithium Iron Phosphate
Global Ferrous Oxalate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Ferrous Oxalate: Introduction
- Ferrous oxalate, or iron (II) oxalate, is an inorganic compound that is poorly soluble in water. The compound is an odorless yellow solid formed by the interaction of ferrous sulfate and sodium oxalate solution.
- Ferrous oxalate is used as photographic developer, colorant for decorative glassware, and optical glass tint. It is also used as pigment for plastics, paints, and lacquer manufacturing.
- In the pharmaceutical industry, ferrous oxalate is employed in the formation of various drugs used to treat anemia
- Ferrous oxalate is also used as a raw material of lithium iron phosphate (material of battery positive pole)