The new report by Expert Market Market titled, ‘Global Copper Sulphate Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global copper sulphate market, assessing the market based on its segments like end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Volume (2022): 350.89 kilo tons
- Forecast CAGR (2023-2028): 3.3%
The growing demand for copper sulphate in various end use industries is driving the market growth. For instance, the pentahydrate of copper sulphate is used as a fungicide in the agriculture industry. In addition, it is a crucial compound which is used as a dye fixative in vegetable dying. Over the forecast period, the increasing application of copper sulphate as an electrolyte in copper refining is anticipated to boost the market growth. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the thriving agriculture sector due to the rising population and rapid urbanisation.
Industry Definition and Major Segments
Copper sulphate is a compound which contains an ionic bond between the copper cation and sulphate anion. In anhydrous form, it exists as white, while in the crystalline hydrous form, it exists as blue. The compound is obtained through the action of sulphuric acid on copper oxide. Copper sulphate is highly soluble in water and is often used as an algaecide and fungicide.
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On the basis of end use, the market can be segmented into:
- Agriculture
- Mining and Metallurgy
- Chemicals
- Construction
- Healthcare
The regional markets for copper sulphate include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Copper sulphate is widely applied as a decorative material as it can add colour to cement, ceramics, and various metals. Hence, the thriving construction industry owing to the rapid urbanisation and rising standards of living is anticipated to be a key trend in the market. Meanwhile, the technological advancements in the healthcare industry aimed towards bolstering the process of diagnosis and treatment in cases of chronic diseases such as diabetes and cancer, are generating a significant demand for copper sulphate. This is likely to be another major trend in the market. Moreover, the growing R&D activities in the chemical industry is anticipated to provide impetus to the market in the coming years.
Key Market Players
The major players in the market are Wego Chemical Group, Allan Chemical Corporation, Atotech, and NOAH Technologies Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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