Copper Sulphate is a blue-colored salt of sulphate that exists in various amounts of hydration, with copper sulphate pentahydrate the most widely used. According to BlueQuark Research & Consulting, the global Copper Sulphate market is expected to witness a high growth rate during the forecast period. Factors such as the increasing demand for copper sulphate in the agricultural industry, primarily in the manufacture of fungicides and as an additive in animal feed helps in the proper functioning of their body. The increasing demand and application to numerous industries are expected to drive the copper sulphate market in the forecasted period. However, the side effects seen in humans if consumed could restrain the growth of the copper sulphate market in the future.
Copper Sulphate is used to manufacture copper fungicides, insecticides, and adhesives with applicable uses in various end-user industries like agricultural, construction, chemical, mining and metallurgy, animal husbandry, etc.
The agricultural industry has many different applications of copper sulphate and is driving the copper sulphate market. The estimated world's consumption of copper sulphate is around 200,000 tons per annum, with a majority being used in the agricultural industry. Copper sulphate is used as a raw material to manufacture fungicides and insecticides that are used in farming to improve crop output. The increasing population has increased the food demand globally, due to which farmers are switching to efficient farming techniques. The rising demand for fungicides to kill parasitic fungi or their spores for a better crop yield is increasing, thus increasing the copper sulphate demand. When copper sulphate is dissolved in water with lime (Bordeaux Mixture), it acts as a protective fungicide that protects plants during seed treatment before they grow. Copper sulphate is also used in the field for the correction of copper deficiency in soils. This process also balances the copper deficiency in animals when they grace on them. Pigs and broiler chickens in the animal husbandry sector are also fed copper sulphate in their diet, stimulating appetite and producing an increased growth rate. These agricultural and animal husbandry advancements are all set to propel the future market of copper sulphate.
The global ammonium thiocyanate market was found to be fragmented. Some of the market's key players are WEGO Chemical & Mineral Corp., Allan Chemical Corporation, NOAH Technologies Corporation, and ATOTECH, among others.
The Asia Pacific region is expected to be a leader in the production and consumption of copper sulphate in the forecasted year. The increasing population has driven the food industry, which has increased the demand for fungicides and insecticides. The estimated use of fungicides in the region stood at 116,327 tons in 2018 and is expected to increase. The animal husbandry industry is also witnessing a surge in demand in emerging countries like China, India, Japan, and Indonesia. In India, over 4,000 tons of poultry animals were slaughtered in 2018-19 due to the country's increasing demand. The demand has been on the rise ever since. Copper sulphate is used as an electrolyte in many metallurgical processes. The APAC region could rise as a great market opportunity for copper sulphate in the forecasted year.
The CAMPCO Ltd , an Indian Copper Sulphate Manufacturer, sold around 171 tonnes of copper sulphate during 2019-20 and is now subsidizing rates for copper sulphate for its growing members in 2021.
Global Copper Sulphate Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Copper Sulfate market by segmenting based on the Grade (Technical Grade, Feed Grade), End-User Industry (Agriculture, Metallurgy, Chemicals, Public Healthcare, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of covid 19 outbreak on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.