“Global Copper Sulfate Market to reach a market value of USD 1.2 Billion by 2030 growing at a CAGR of 5.1%”
The Global Copper Sulfate Market size is expected to reach $1.2 billion by 2030, rising at a market growth of 5.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,563.3 hundred Tonnes experiencing a growth of 4.3% (2019-2022).
This chemical is used in a variety of applications within the construction field. It is highly favorable for wood treatment in which it is used for preventing the wood from decaying or fungal damage. The treated wood is used in construction for various applications, including structures, fences, and outdoor installations. Consequently, the construction segment would acquire nearly 10% of the total market share by 2030. Additionally, this chemical’s algicidal properties effectively control algae and moss growth on roofs and other surfaces. This application contributes to the maintenance and longevity of construction materials. Thus, these aspects will help expand the segment.
This chemical is effective against various fungal diseases that affect plants, including mildew, blights, and rots. It works by disrupting the growth and development of fungal spores, helping to control and prevent the spread of diseases. Moreover, this chemical is versatile and can be used on various crops, including fruits, vegetables, and grains. Its broad-spectrum activity against different pathogens makes it a valuable tool for crop protection in diverse agricultural settings. Thus, these factors will drive the demand in the market. Additionally, this chemical acts as an algicide (algae control) and bactericide in water. It controls algae growth and certain microorganisms that can increase in ponds, reservoirs, and swimming pools. This is crucial for maintaining water quality. Moreover, this chemical is employed in swimming pools to control algae growth and maintain water clarity. It helps in preventing the formation of green water and the growth of algae on pool surfaces. This chemical is used in certain wastewater treatment processes to control microbial growth and improve water quality before discharge. Thus, these factors will drive the expansion of the market.
However, Copper, including copper sulfate, can harm aquatic organisms such as fish, invertebrates, and aquatic plants. It interferes with their respiratory and reproductive processes, and high concentrations can lead to fish kills and disruptions in aquatic ecosystems. Moreover, due to concerns about copper toxicity, this chemical is limited in potable (drinking) water treatment. Regulatory authorities often set strict guidelines to prevent introducing excessive copper levels into drinking water. Thus, these factors can restrain the growth of the market.
On the basis of application, the market is divided into chemicals, agriculture, construction, healthcare, mining & metallurgy, and others. In 2022, the chemicals segment witnessed a substantial revenue share in the market. This chemical exhibits versatile chemical properties, making it applicable to various chemical processes. Its ability to act as a catalyst, raw material, and reagent in different reactions has augmented demand within the chemicals sector. This chemical serves as a crucial raw material in producing various copper-based chemicals. Industries manufacturing copper compounds leverage this chemical as a foundational component for their processes. Therefore, these factors can lead to increased growth in the segment.
Based on type, the market is segmented into anhydrous, pentahydrate, and others. In 2022, the anhydrous segment garnered a significant revenue share in the market. Anhydrous copper sulfate is lighter and less bulky than its hydrated forms since it doesn't contain water molecules. This characteristic can lead to cost savings in transportation, especially when shipping large quantities. Certain industries may have applications that specifically benefit from the properties of anhydrous copper sulfate. Therefore, the segment will grow rapidly in the coming years.
Free Valuable Insights: Global Copper Sulfate Market size to reach USD 1.2 Billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired the largest revenue share in the market. Asia Pacific has a significant agricultural sector, and this chemical is commonly used in agriculture as fungicide and bactericide. The demand for crop protection products may impact the consumption of this chemical in the region. Moreover, if there is an increase in mining activities in the region, the demand for this chemical in ore flotation processes may see a corresponding rise. These aspects can fuel the demand in the segment.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 801.9 Million |
| Market size forecast in 2030 | USD 1.2 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.1% from 2023 to 2030 |
| Number of Pages | 273 |
| Number of Table | 568 |
| Quantitative Data | Volume in Hundred Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Beneut Enterprise, Highnic Group, JX Metals Corporation (Eneos Holdings), NOAH Technologies Corp., Sumitomo Metal Mining Co., Ltd., Univertical Corp. (ALCONIX CORPORATION), Jost Chemical Co. and LAFFORT |
By Type (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Application (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Hundred Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $1.2 billion by 2030.
Agricultural sector expansion and increased crop production are driving the Market in coming years, however, Toxicity concerns related to copper sulfate restraints the growth of the Market.
Beneut Enterprise, Highnic Group, JX Metals Corporation (Eneos Holdings), NOAH Technologies Corp., Sumitomo Metal Mining Co., Ltd., Univertical Corp. (ALCONIX CORPORATION), Jost Chemical Co. and LAFFORT
In the year 2022, the market attained a volume of 3,563.3 hundred Tonnes experiencing a growth of 4.3% (2019-2022).
The Pentahydrate segment led the Market by Type in 2022; there by, achieving a market value of $676.5 Million by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $502.7 Million by 2030.
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