The global copper sulphate market in 2021 was valued at USD 1,170.7 Million and is projected to reach USD 1,500.4 Million by the year 2027. The market is anticipated to register a CAGR of 4.2% over the projected period. In 2021, around 298 kilo tons of copper sulphate was estimated to be sold.
Copper sulphates is an inorganic compound, which is most commonly used as a algaecide, herbicide, root killer, and fungicide in non-agricultural as well as agricultural settings. Rising applications of copper sulphate across various industries and extensive use of copper sulphate in the agriculture industry is expected to boost the market growth. Furthermore, increase in the demand for electrical & electronic and textile products is also expected to fuel the market growth. Despite the driving factors, health impact of copper sulphate is estimated to restrain the market growth.
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Growth Influencers:
Extensive use of copper sulphate in the agriculture industry
Copper sulphate has numerous applications in the agriculture industry. It is used as a fertilizer and in the management of plant diseases. It is commonly used a fungicide in organic agriculture. Other agricultural uses of coper sulphate include preparation of Bordeaux & Burgundy mixtures on the farm, correction of copper deficiencies in soil, stimulation of growth for broiler chickens & fattening pigs, correction of copper deficiency in animals, and as a molluscoid for destruction of snails & slugs, especially the snail host of the liver fluke. Hence, extensive usage of copper sulphate in the agriculture industry is expected to boost the market growth.
Segments Overview:
The global copper sulphate market is segmented the type and application.
By Type,
? Anhydrous
? Pentahydrate
? Others
The pentahydrate segment is expected to account for the largest market share of 50% in 2021. Pentahydrate is the most common form of copper sulphate, which increases its demand due to easy availability as compared to the other types, hence contributing to the large market share.
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By Application,
? Agriculture
? Chemicals
? Construction
? Mining & Metallurgy
? Others
The home-use oxygen segment is expected to hold the largest market share owing to the increasing spending and preference on home healthcare devices. Within the industrial oxygen segment, the gold mining segment?s volume is approximately 35% of the steel industry?s volume in 2021 and this is expected to reach about 40% by 2027. This is owing to the high usage of oxygen for gold extraction. Also, the glass blowing segment is expected to account for a market size of USD 86.9 million by 2027.
Regional Overview
Based on region, the global Copper sulphate market is divided into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
The Asia Pacific region is expected to hold the largest market share of around 45% in 2021 owing to the constantly developing agriculture industry in China and India. North America is estimated to surpass a market value of USD 300 million by 2025 owing to adoption of advanced products to enhance agricultural produce. Within Europe, among the type segment, pentahydrate segment is projected to grow at the highest growth rate of around 3.8% over the projected period.
Competitive Landscape
Key players operating in the global copper sulphate market include Beneut Enterprise, Blue Line Corporation, Changsha Haolin Chemicals Co., Ltd, Highnic Group, JX Nippon Mining & Metals Corporation, NEKK Industrial Group, Noah Technologies Corporation, Sumitomo Metal Mining Co., Ltd., Univertical Corporation, UMMC-Holding Corp., and Other Prominent Players. The cumulative market share of the top 8 players is more than 50%. Changsha Haolin Chemicals Co. Ltd has products such as copper sulphate pentahydrate (feed grade) and copper sulphate pentahydrate (industrial grade).
These market players are engaged in mergers & acquisitions, collaborations, and new product launches to strengthen their market presence.
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For instance, in November 2021, Sumitomo Metal Mining Canada Ltd (SMCL), a subsidiary of Sumitomo Metal Mining & Co., Ltd signed an agreement with Kenorland Minerals Ltd, Vancouver, Canada-based exploration company. SMCL acquired 10.1% stake in Kenorland Minerals and the acquisition is valued at approximately USD 4.07 million.
The global Copper sulphate market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global copper sulphate market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Copper sulphate market report answers questions such as:
? What is the market size and forecast of the Global Copper sulphate Market?
? What are the inhibiting factors and impact of COVID-19 on the Global Copper sulphate Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Global Copper sulphate Market?
? What is the competitive strategic window for opportunities in the Global Copper sulphate Market?
? What are the technology trends and regulatory frameworks in the Global Copper sulphate Market?
? What is the market share of the leading players in the Global Copper sulphate Market?
? What modes and strategic moves are considered favorable for entering the Global Copper sulphate Market?
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