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The copper sulfate market size is estimated to grow by USD 369.15 million at a CAGR of 5.76% between 2023 and 2027. The growth of the copper market is driven by the increasing demand for copper in various industries, including construction and electronics. The agricultural industry is experiencing growth due to factors such as increasing global population and changing dietary preferences. The construction industry is witnessing increasing investment due to infrastructure development projects and urbanization trends. These factors combined are contributing to the overall growth of these industries. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
This market report extensively covers market segmentation by application (agriculture, chemical, and others), type (pentahydrate, anhydrous, and others), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
Copper sulfate, known as cupric sulfate, is a chemical compound with the formula CuSO4. It is the most popular and widely used copper salt. These have applications in many end-user industries, such as chemicals, healthcare, agriculture, construction, mining, and metallurgy. In agriculture, this is widely utilized, especially as a fungicide. Additionally, it is frequently added to animal feed, as animals need copper for healthy physiological functions. A huge amount of copper is needed for electrical conduction due to the rapid growth in the use of electrical and electronic equipment. In the metal and electrical sectors, it is frequently employed as an electrolyte for processes such as refining, electroplating, and battery development.
The agriculture segment is estimated to witness significant growth during the forecast period. The main raw material which is used for the production of agricultural fungicides such as Bordeaux and Burgundy mixtures which are extensively used in farms is copper sulfate. Additionally, this is used as an algicide and molluscicide as well. Furthermore, it is widely utilized as a fungicide for plagues.
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The agriculture segment was the largest segment and was valued at USD 757.91 million in 2017. Other applications of these in the agriculture segment include its use for fattening pigs and broiler chickens and treating copper deficiency in animals. Thus the rising number of agricultural activities across the world will increase the consumption of copper sulfate which in turn will fuel the growth of this segment. Some of the leading countries in agricultural activities include China, India, Denmark, France, Brazil, and Belgium. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market during the forecast period.
Based on type, the pentahydrate segment holds the largest market share. It is a blue crystalline inorganic compound, and is used as an emetic and antidote for phosphorus poisoning. It's a non-combustible, toxic powder that inhibits algae growth and acts as a fungicide. With diverse applications in electroplating, water purification, agriculture, photography, pottery, and as a pigment, its versatility drives growth in the global market.
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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APAC commands global copper sulfate consumption, spearheading demand, innovation, and product advancement. This supremacy is anchored in the agricultural and chemical sectors, propelled by burgeoning construction, agriculture, and textile industries. China, India, South Korea, and Japan are pivotal consumers and will maintain this stance. The market in these nations thrives due to agricultural, construction, and textile demands.
Developing countries like India exhibit pronounced requisites, driven by construction and agriculture. In healthcare, their roles span from mosquito larvae control to antiseptic and pharmaceutical catalysts. The surging healthcare sector augments the demand. The region's robust chemical manufacturing sector, encompassing countries like China, Vietnam, Malaysia, and Australia, bolsters consumption, stimulated by textile, construction, and coatings industries. This trajectory propels their utilization in the forecast period.
The market is integral to various industries, including agriculture, metal and electrical, and the chemical industry. Copper sulfate, also known as cupric sulfate, is widely used as a fungicide, bactericide, and herbicide in crop protection and plant protection. It is also utilized in the mining industry for ore flotation to extract valuable minerals. In agriculture, copper sulfate pentahydrate is a key component in animal feed, providing essential electrolytes. Additionally, it is used in water treatment as an algicidal and bactericidal agent. Its blue or green colored crystals are easily identifiable, and its pentahydrate form is crucial for hydration. Overall, copper sulfate plays a vital role in various sectors, serving as a cornerstone for disease and pest control, industrial processes, and agricultural practices. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growth of the agricultural industry is indeed a key factor driving the market. Copper sulfate holds vital importance in agriculture, serving as a foundational element for producing Bordeaux Mixture, an agricultural fungicide. It also finds application as an algicide and molluscicide. Its fungicidal properties combat various pests, while also addressing copper deficiencies in soils.
The escalating global agricultural endeavors are poised to boost consumption of copper sulfate in the foreseeable future. The agricultural sector is expanding due to heightened food demands in densely populated nations like India and China. This surge, propelled by population growth, will drive the usage of copper sulfate. Consequently, the global market is set to grow, influenced by these dynamics.
Increasing demand for copper sulfate in the textile industry is a key trend shaping the market. This finds application as dyes within the textile sector, contributing to fabric production. It combines with various compounds to yield diverse color variations, integral to textile production.
For example, adding copper sulfate to alum mordant produces yellow dye, while treating citreous with ferrous sulfate yields dark brown. This extensive use within textiles will drive elevated demand in the predicted timeframe, fueled by the global textile industry. This is poised to emerge as a key textile industry chemical, particularly in the creation of synthetic fibers. As the demand for synthetic fibers rises, the call for copper sulfate is expected to surge, propelling the global market's expansion during the forecast period.
The limited use of copper sulfate in water treatment is a key challenge hindering the market. Copper sulfate, despite its role in water treatment, is subject to usage limitations due to several crucial factors. Foremost, its inherent toxicity to humans, coupled with its high skin absorption rate, restricts its safe application. Water treated with this can induce persistent skin itching and even lead to lasting skin discoloration.
Furthermore, its non-biodegradable nature causes it to accumulate as a heavy metal precipitate in water, contributing to environmental concerns. This accumulation, along with its potential to disrupt the aquatic food chain by encouraging the proliferation of unwanted species like algae, underscores its limitations. Its corrosiveness, which precludes storage in metal containers, adds another layer of constraint. The dangerous implications of these on aquatic life and human health in the context of water treatment hinder its wider adoption, subsequently impeding the market throughout the projected period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Aegion Corp - The company offers copper sulfate namely copper sulfate crystals.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Aegion Corp, ALCONIX CORP, BAKIRSULFAT AS, Blue Line Corp., Changsha Haolin Chemicals Co. Ltd., Destiny Chemicals, Global Calcium Pvt. Ltd., GUJARAT AKSHA FERTILIZER COMPANY, Hemadri Chemicals, Highnic Group, JL Chemtonic Co. Ltd., Laiwu Iron and Steel Group Xintai Copper Co. Ltd., Merck KGaA, Nakoda Chemicals Pvt. Ltd., Old Bridge Chemicals Inc., SAGAN AG, Sulfozyme Agro India Private Limited., Sumitomo Metal Mining Co. Ltd., Uma Chemicals, and Wego Chemical Group Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market plays a vital role in the metal and electrical industry and mining industry due to its use in ore flotation. It serves as a bactericide and algicidal agent in crop protection and plant protection, enhancing crop yields and ensuring disease control. In the chemical industry, it is crucial for synthesis and serves as an adhesive and paint component. Wood preservatives and animal husbandry benefit from its bactericidal properties. The market's growth is driven by the agriculture sector, energy storage devices, and infrastructures. However, fluctuating copper prices and environmental concerns around its disposal are challenges. Overall, the Copper Sulfate Market is poised for growth, supported by the expansion of industrial sectors and the growing agricultural industry.
Furthermore, Copper sulfate pentahydrate is a versatile compound with various applications across industries. It is used in herbicides and insecticides for crop protection strategies, promoting healthier crops and enhanced yields. In the building industry, it serves as an adhesive and is used in pigments. Farmers and agricultural practitioners rely on it for seed treatment and controlling plant diseases caused by parasitic fungi. The compound is also used in batteries and as a flotation reagent for extracting valuable minerals in the mining industry. However, its use requires careful consideration due to environmental concerns related to water bodies and overall agricultural output. Despite this, the Copper Sulfate Market remains dynamic, driven by factors like fluctuations in soil and water quality and the expansion of the leather industry.
Copper Sulfate Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.76% |
Market growth 2023-2027 |
USD 369.15 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.54 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
US, Canada, China, Australia, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aegion Corp, ALCONIX CORP, BAKIRSULFAT AS, Blue Line Corp., Changsha Haolin Chemicals Co. Ltd., Destiny Chemicals, Global Calcium Pvt. Ltd., GUJARAT AKSHA FERTILIZER COMPANY, Hemadri Chemicals, Highnic Group, JL Chemtonic Co. Ltd., Laiwu Iron and Steel Group Xintai Copper Co. Ltd., Merck KGaA, Nakoda Chemicals Pvt. Ltd., Old Bridge Chemicals Inc., SAGAN AG, Sulfozyme Agro India Private Limited., Sumitomo Metal Mining Co. Ltd., Uma Chemicals, and Wego Chemical Group Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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