South Korea Ferric Chloride Market Share, Size, Growth, Trends, Analysis, Forecast: By Application: Water and Wastewater Treatment, Printed Circuit Board (PCB), Pigment Manufacturing, Animal Nutrient Supplement, Asphalt Blowing, Others; Market Dynamics; Competitive Landscape; Key Trends and Developments in the Market; 2023-2028

South Korea Ferric Chloride Market Outlook

The South Korea ferric chloride market is expected to grow at a CAGR of 4.5% between 2023 and 2028. The high demand for water treatment and the use of ferric chloride in numerous other end-user industries is proliferating the market growth in South Korea.

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Key Trends in the South Korea Ferric Chloride Market

Having the chemical formula FeCl3, ferric chloride is an inorganic substance with a wide range of applications in industry, medicine, and laboratory work. Iron has a +3 oxidation state in ferric chloride, a common combination of iron and chlorine. In addition to ferric chloride, it is also known by a number of other names, including molysite and flores martis. It comes in a variety of hues, such as black, green, or purple in its anhydrous form and solid yellow in its hydrous form.

Ferric Chloride is Majorly Employed for Wastewater Purification and Medicine Manufacturing Purposes, Thereby Driving its Demand in South Korea

Water purification and wastewater treatment are the two main areas where ferric chloride is widely used. Ferric chloride is also one of the few odour-sequestering water treatment compounds, which makes it more demanding. More than three-fourths of the world's need for water treatment is met by usage in industrial water applications, pretreatment of saltwater before desalination, and other uses. The growing demand for clean water is driving the ferric chloride market in South Korea. Another application of ferric chloride is in the pharmaceutical industry, as it is widely used in the production of several medications and iron supplements.

The Surge of Steel, Construction, and Electronic Sector are Augmenting the Ferric Chloride Market Growth

A broad variety of electronic gadgets employ printed circuit boards (PCBs), which are made with ferric chloride. Higher-grade ferric chloride is employed in smaller quantities as an etchant and a catalyst in the manufacture of microelectronics (printed circuit boards [PCBs]). In South Korea, the expansion of the electronics sector is driving up demand steadily. Moreover, steel is utilised in a variety of applications and is pickled and etched using ferric chloride. The rising demand for steel across several sectors further propels the growth of the ferric chloride market in South Korea.

Infrastructure development in South Korea is growing steadily, and ferric chloride is used in the production of asphalt and concrete, among other construction materials, which boosts its demand in the construction sector as well.

Market Analysis

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Based on application, the South Korea ferric chloride market is segmented into water and wastewater treatment, printed circuit board (PCB), pigment manufacturing, animal nutrition, and asphalt blowing, among others. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea ferric chloride market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• BASF SE

• Samchun Chemical Co., Ltd

• Arkema S.A.

• VWR International, LLC.

• Others

Market Share by Application

Water and wastewater treatment accounts for the largest market share followed by printed circuit boards which are widely used in electronic gadgets. Due to rapid urbanisation, the demand for construction materials is booming in the country. Other segments, such as pharmaceuticals and pigments and dyes, among others, are also providing significant impetus to the market’s growth. 

During the COVID-19 pandemic, the South Korea ferric chloride market experienced some disruptions in the delivery and supply chain of raw materials. However, the market is reviving and again picking up the pace due to the increasing demand from various industries.

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Competitive Landscape

Samchun Chemical Co., Ltd.- The company Samchun Pure Chemical Co., Ltd. is based in South Korea. Its headquarters are in Pyeongtaek. The business is involved in the manufacturing of chemicals. The company was established in the year 1987.

BASF SE- The BASF Group has subsidiaries and joint ventures in more than 80 nations, and it runs 390 additional manufacturing sites throughout Europe, Asia, Australia, the Americas, and Africa in addition to six integrated production facilities. BASF SE is a European multinational chemical business and the world's largest chemical manufacturer. Germany's Ludwigshafen serves as the location of its corporate headquarters.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.