Global Copper Sulfate Market- Industry Analysis and forecast 2020 – 2027
Global Copper Sulfate Market size was valued US$ XX Mn. in 2019 and is expected to grow at a CAGR of 6.23% over 2020-2027, to account for US$ XX Mn. in 2027.
Global Copper Sulfate Market
Copper sulfate (cupric sulfate) is a versatile chemical compound and is available in two forms namely anhydrous copper sulfate and hydrous copper sulfate. Commercially, copper sulfate includes 25% metallic copper and is sold with a guaranteed minimum purity of 98% copper sulfate. Copper sulfate is used in various industries like leather, chemicals, and electrical.
The MMR report analyzes various factors which have been driving the global copper sulfate market in the past. The report also showcases the opportunities available in the market, which may act as future drivers for the copper sulfate. The global copper sulfate market is estimated to witness lucrative growth over 2020-2027, thanks to growing demand from mining, agriculture, horticulture, paint and dye industry. Use of copper sulfate as an electrolyte in the metal plating process is expected to upsurge the market demand. Demand for copper sulfate as a chemical in animal feed is also growing as the copper is needed for proper body functioning.
Growth in the copper industry has been driving the growth of the copper sulfate market. In January 2019, domestic mine production of recoverable copper was nearly 96,300 (MT) metric tons. The average daily mine production was 3,110 metric tons, a decline of 10% from that in Dec 2018 and a drop of ~5% compared with that in January 2018. Total refinery production in the U.S. was 82,300 metric tons in January 2019. However, the toxicity of copper sulfate, limited use of copper sulfate in water treatment and the rising number of substitutes for copper sulfate might hinder the market growth.
Based on end-use industry, an agricultural segment dominated the copper sulfate market in 2019, accounting share of XX.20%. Demand for copper sulfate is likely to increase significantly in the agricultural industry, thanks to its growing use in the production of fungicides, herbicides, fertilizers and pesticides in animal feedstock sulfate. Likewise, the report covers the segments in the copper sulfate market such as type and end-use industry.
In 2020, the APAC dominated the copper sulfate market with market size of US$ XX Mn. The rising number of agricultural activities coupled with the presence of the various agricultural and animal husbandries is expected to upsurge the demand for copper sulfate in Asia. Also, the continuous demand in emerging economies like China and India is further estimated to foster the copper sulfate market growth.
India is the largest market for copper sulfate in the APAC. The Indian copper sulfate market is expected to grow at the highest CAGR of XX.09% during the forecast period and is expected to reach US$ XX.57 Mn. by 2027. Growing demand for copper sulfate in the Indian agriculture industry for its applications in fungicides, sterilizers, and fertilizers are projected to drive India copper sulfate market over 2020-2027.
China copper sulfate market was valued at US$ XX Mn. in 2020. China is the world’s largest exporter of copper sulfate accounting for around one-fifth of the total global exports. The other major exporting economies were Mexico, Russia, Chile and South Africa.
Global Copper Sulfate Market Share by Major Players 2019 (in %)
Global Copper Sulfate Market 1
The competitive landscape section in the copper sulfate market offers a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the key developments, differential strategies, and other crucial aspects about the key players having a stronghold in the copper sulfate market.
The objective of the report is to present a comprehensive analysis of the Global Copper Sulfate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Copper Sulfate Market dynamics, structure by analyzing the market segments and projects the Global Copper Sulfate Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Copper Sulfate Market make the report investor’s guide.
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Scope of the Global Copper Sulfate Market
Global Copper Sulfate Market, By Types
Global Copper Sulfate Market, By End-Use Industry
• Leather & Textiles
• Others (paints, hair dye, glues, etc.)
Global Copper Sulfate Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in the Global Copper Sulfate Market
• Beneut Enterprise Co. Ltd.
• Allan Chemical Corporation
• NOAH Technologies Corporation
• Blue Line Corp.
• Changsha Haolin Chemicals Co. Ltd.
• Highnic Group
• JX Nippon Mining and Metals Corp.
• Merck KGaA
• Noah Technologies Corp.
• Old Bridge Chemicals Inc.
• Sumitomo Metal Mining Co. Ltd.
• Univertical LLC
• WEGO Chemical & Mineral Corp.
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