According to the report, the global copper chemicals industry generated $2.62 billion in 2020,
and is anticipated to generate $4.04 billion by 2030, witnessing a CAGR of 4.5%
from 2021 to 2030.
Prime determinants of growth
Increase in need for yield-enhancing agrochemicals and surge in demand for fruits and vegetables and fungicides drive the growth of the global copper chemicals
market. However, harmful effects of copper chemicals due to their toxicity hinder
the market growth. On the other hand, government initiatives to promote the
domestic manufacturing of agrochemicals present
new opportunities in the coming years.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/12864
· Owing to the outbreak of the COVID-19, several countries are under strict lockdowns, which have forced almost all sectors to
shut down their operations. This has hampered manufacturing activities and
reduced the demand and production of copper chemicals.
· The demand for copper chemicals from various end-use industries such as agrochemicals, ceramic, paint, mining, and oil & gas industry has declined during the pandemic.
· The paint manufacturing facilities across various countries have been shut down amid lockdown imposed by many
governments. Thus, the demand for copper chemicals as raw material for the
production of paints has declined significantly.
The Copper Sulfate segment to maintain its leadership status throughout the forecast period
Based on component, the copper sulfate segment held the highest market share in 2020, accounting for nearly four-fifths of the global copper chemicals market, and is estimated
to maintain its leadership status throughout the forecast period. This is due
to rise in demand from the agrochemical industry across the globe for pesticide
production. However, the cupric oxide segment is
projected to manifest the highest CAGR of 7.1% from 2021 to 2030, owing to rise
in building and construction industry across the globe, which led to rise in
demand for ceramic tiles.
Get Detailed COVID-19 Impact Analysis on the Copper Chemicals Market @ https://www.alliedmarketresearch.com/request-for-customization/12864?reqfor=covid
The agriculture segment to maintain its lead position during the forecast period
Based on application type, the agriculture segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global copper chemicals
market, and is projected to maintain its lead position during the forecast period.
This is due to increase in farmers’ focus on improving productivity and
reducing the damage caused by fungi, algae, and bacteria with the help of
pesticides such as herbicide, bactericide, and fungicide. However, the ceramic
segment is expected to portray the largest CAGR of 6.4% from 2021 to 2030,
owing to rise in building and construction industry across the globe.
Asia-Pacific, followed by Europe & North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by Europe and North America, held the highest market share in terms of revenue 2020, accounting for more than half of the
global copper chemicals market. This is due to the wide usage of copper in
production of pesticides such as herbicide, bactericide, and fungicide.
Moreover, the region is expected to witness the fastest
CAGR of 4.8% during the forecast period.
Leading Market Players
· Bayer AG
· Sumitomo Metal Mining Co. Ltd.
· NOAH Technologies Corporation
· William Blythe Limited
· Allan Chemical Corporation
· Jost Chemical
· Shyam Chemicals Pvt Limited
· Parikh Enterprises Private Limited.
Interested in Procuring This Report? Visit Here:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon.
Allied Market Research provides global enterprises as well as medium and small
businesses with unmatched quality of "Market Research Reports" and
"Business Intelligence Solutions." AMR has a targeted view to provide
business insights and consulting to assist its clients to make strategic
business decisions and achieve sustainable growth in their respective market
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional
corporate relations with various companies and this helps us in digging out
market data that helps us generate accurate research data tables and confirms
utmost accuracy in our market forecasting. Each and every data presented in the
reports published by us is extracted through primary interviews with top
officials from leading companies of domain concerned. Our secondary data
procurement methodology includes deep online and offline research and
discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on: LinkedIn Twitter