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The global copper sulfate pentahydrate market is expected to register a robust revenue CAGR of 5.3% between 2022 and 2030
NEW YORK CITY, NEW YORK, UNITED STATES, August 9, 2022 /EINPresswire.com / -- 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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Major companies
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.
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Segments covered in the report:
Grade Outlook (Revenue, USD Million; 2019-2030)
Food Grade
Industrial Grade
Application Outlook (Revenue, USD Million; 2019-2030)
Agriculture
Fruits & Vegetables
Cereals & Grains
Ornamental Plants
Construction
Healthcare
Wound Healing
Anti-bacterial
Anti-fungal
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Regional Outlook (Revenue, USD Million; 2019-2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
BENELUX
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Rest of Middle East & Africa
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