Copper Sulfate Pentahydrate Market Size & Share, Key Players, Growth Strategies till 2030
The global copper sulfate pentahydrate market is expected to register a robust revenue CAGR of 5.3% between 2022 and 2030. Increasing agricultural activities globally and rising demand for fungicides for use in agricultural fields are some of the major factors expected to continue to drive market revenue growth during the forecast period. Fungicides are chemical compounds or biological agents that are used to prevent, destroy, or control fungi or fungal spores. The increased focus on crop yield and quality is projected to fuel the demand for fungicides globally.
Copper sulfate pentahydrate is a white crystalline solid with the chemical formula CuSO4·5H2O. It is used for manufacturing fungicides, algaecides, root killers, and herbicides for use in both, agricultural and non-agricultural settings. It is also used as an antimicrobial and molluscicide. The ever-increasing global population, coupled with changing dietary habits of people are major factors expected to fuel demand and need for food crops globally. This, in turn, is expected to drive demand for copper sulfate pentahydrate as it is widely used in agriculture in order to obtain large amount of yields.
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Top Players in the Global Copper Sulfate Pentahydrate Market:
BASF SE, DowDuPont Inc., Akzo Nobel N.V., LANXESS Corporation, Aditya Birla Chemicals Ltd., Atul Ltd., and Cu2O Technologies.
However, some fungi are capable of adapting to elevated levels of copper ions, which may act as a restraint for market revenue growth. Another challenge faced by manufacturers is the presence of substitutes such as sulfuric acid, hydrogen peroxide, and sodium chloride, which can hamper copper sulfate pentahydrate market revenue growth to some extent. Nevertheless, high demand for the product from end-use industries such as agriculture, construction, and healthcare is expected to create lucrative revenue opportunities for major market players in the coming years.
Market segmentation based on Grade Outlook:
- Food Grade
- Industrial Grade
- Fruits & Vegetables
- Cereals & Grains
- Ornamental Plants
- Wound Healing
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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