H1 2023: In the first half of 2023, the Copper Sulphate market in the Asia Pacific region witnessed mixed prices. Throughout the first quarter of 2023, Copper Sulphate prices experienced a consistent upward trend in the Indian domestic market. Manufacturing activities remained robust, driven by improved demand fundamentals from downstream industries, and production facilities operated at regular rates to maintain a favorable sales-to-inventories ratio. However, in the second quarter of 2023, the prices of Copper Sulphate in the Indian domestic market exhibited mixed market sentiments. Early in Q2 2023, prices declined due to ample of Copper Sulphate availability resulting from resilient manufacturing activities across the Asian nations. The bearish market sentiments were further fueled by decreasing costs of upstream Sulphuric Acid and lower inquiries from the downstream agrochemical sector in the Indian market. Downstream manufacturers reported stock build-ups, resisting shifts in Copper Sulphate demand dynamics. Consequently, manufacturers reduced their offers for the downstream agrochemical sector under increased supply-side pressure. Midway through Q2 2023, prices improved with a rise in inquiries from downstream markets. In the Indian market, Copper Sulphate prices continued to fall till June 2023.
The global Copper Sulphate market stood at approximately 550 thousand tonnes in 2022 and is anticipated to grow at a healthy CAGR of 4.50% during the forecast period until 2032.
Copper sulphate (CuSO4), renowned for its distinctive blue crystalline structure and water solubility, goes beyond its primary uses in agriculture, metalwork, pipe cleaning, fungicides, and water treatment. Widely employed in agriculture, it acts as a key component in fungicides and algaecides, playing a crucial role in disease control and algae management. In the field of water treatment, particularly in pisciculture and aquarium maintenance, copper sulphate proves effective in controlling algae and parasites. Its significance extends to the metalworking industry, where it serves as an electrolyte in copper refinement and contributes to electroplating processes for manufacturing diverse metal products. Notably, copper sulphate is increasingly finding application in battery technology, indicating a growing role in energy storage solutions.
The global copper sulphate market is experiencing substantial growth driven by its diverse applications across multiple industries. Additionally, the agriculture industry contributes significantly to market growth with increasing demand for copper sulphate as an herbicide, insecticide, and fungicide. Particularly noteworthy is its extensive use in the pharmaceutical sector, where it serves as a disinfectant and sterilizer, leveraging its potent anti-fungal and anti-septic properties. This utilization presents lucrative growth opportunities for the. The expanding role of copper sulphate as a catalyst and electrolyte in various applications, including battery development, electroplating, and refining, is a significant growth driver. Its widespread use as an analytical reagent for preparing essential solutions, such as Fehling’s solution and Benedict’s solution, adds another layer to its growth trajectory. Furthermore, in the industrialization and urbanization, copper sulphate finds rising demand in the flourishing construction sector and various industrial applications like dyeing and printing, water treatment, and flotation, contributing to market expansion. The global Copper Sulphate market size is anticipated to reach nearly 820 thousand tonnes by 2032.
Based on region, Asia Pacific region is the largest consumer of Copper Sulphate with India and China being the leading nations. The Asia Pacific region is set to dominate the copper sulphate market in the coming years, propelled by rapid industrialization, particularly in China and India. The region's robust agricultural practices contribute significantly to the demand for copper sulphate as a pivotal component in herbicides, insecticides, and fungicides, ensuring effective crop protection. The expanding pharmaceutical sector, coupled with the rising healthcare needs of a growing population, further fuels the demand for copper sulphate as a disinfectant and sterilizer. Ongoing infrastructure development projects and the region's role in global supply chains also contribute to the escalating demand in construction, water treatment, and industrial applications. Government initiatives and supportive policies add impetus to the market, solidifying the Asia Pacific's position as the key player in the copper sulphate market landscape.
Based on the end-user industry, the global Copper Sulphate market is divided into Agrochemical, Electrorefining (Copper), Mining, Pharmaceuticals, and Others. However, Agrochemical Industry dominates the global Copper Sulphate market followed by Mining industry.
Major players in the Global Copper Sulphate market are ProChem, Inc., Cuprichem Limited, NOAH Technologies Corporation, Old Bridge Chemicals, Inc., SimpL, Ural Mining and Metallurgical Company, Xintai Copper Industrial Co. Ltd., Yunnan Copper Company Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Copper Sulphate which covers production, demand and supply of Copper Sulphate market in the globe.
• To analyse and forecast the market size of Copper Sulphate
• To classify and forecast Global Copper Sulphate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Copper Sulphate market in the globe.
To extract data for Global Copper Sulphate market, primary research surveys were conducted with Copper Sulphate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Copper Sulphate market over the coming years.
ChemAnalyst calculated Copper Sulphate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Copper Sulphate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Copper Sulphate manufacturers and other stakeholders
• Organizations, forums and alliances related to Copper Sulphate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Copper Sulphate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Copper Sulphate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
550 thousand tonnes
Market size Volume in 2032
820 thousand tonnes
Growth Rate
CAGR of 4.5% from 2023 to 2032
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Agrochemical, Electrorefining (Copper), Mining, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Copper Sulphate market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Copper Sulphate.
3. Capacity By Location
To better understand the regional supply of Copper Sulphate by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Copper Sulphate by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Agrochemical, Electrorefining (Copper), Mining, Pharmaceuticals, and Others) are creating a market and the forecast for the growth of the Copper Sulphate market.
7. Demand by Region
Analyzing the change in demand of Copper Sulphate in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Copper Sulphate. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Copper Sulphate.
10. Company Share
Figure out what proportion of the market share of Copper Sulphate is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Copper Sulphate.
12. Country-wise Export
Get details about quantity of Copper Sulphate exported by major countries.
13. Country-wise Import
Get details about quantity of Copper Sulphate imported by major countries.
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What was the net market size of Copper Sulphate in terms of volume in 2022?
Ans:
The global market size of Copper Sulphate had reached approximately 550 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Copper Sulphate?
Ans:
Asia Pacific region is the leading consumer of Copper Sulphate globally.
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