Copper Ammonium Carbonate Market Plying for Significant Growth During 2015 – 2023
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Copper ammonium carbonate fungicides are primarily used as broad spectrum fungicides for use on wheat barley, oats, oilseed rape, rye, and durum wheat. They are extensively used by Indian wheat farmers and other well irrigated crops. Copper ammonium carbonate is sold in combined formulation with several other fungicides, such as fluoxastrobin, spiroxamine, tebuconazole, trifloxystrobin, bifaxen, and floupyram among others.
The copper ammonium carbonate fungicide market is driven by its rising food demand for the booming global population and reducing arable land. Rising food security concerns and limited arable land area is putting pressure on farmers to increase yields to meet the global demand. However, rising awareness about the harmful effects of fungicides and other toxic agrochemicals among the general population along with stringent environmental regulations, especially in developed countries of North America and Europe is expected to be the major restraining factor for the copper ammonium carbonate fungicide market. This opposition to use of chemicals in agriculture has caused a shift towards organic farming and development of better and less harmful substitutes for these chemicals.
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In terms of geography, Asia Pacific is the largest consumer of copper ammonium carbonate fungicide riding on high sales of fungicide products to its large population base. Major agricultural economies including China, India and Indonesia are the major consumers of copper ammonium carbonate fungicide for application in a variety of crops. Two of the most populated countries, China and India are situated in Asia. Both these countries are growing rapidly and witnessing rising disposable income and purchase power parity of the general population. This in turn is expected to drive demand for food grains and further for copper ammonium carbonate fungicide. Major market players have established their production facilities in Asia owing to the availability of cheap labor and land and comparatively lenient norms and regulations against chemicals. North America is another major consumer for copper ammonium carbonate fungicide especially in the well irrigated southern land in the Mississippi and Missouri areas of the U.S. In Rest of the World, Brazil, South Africa and Central Africa contribute to major demand for the market. Europe is expected to witness comparatively slower growth than other regions due to stringent government control over potentially harmful agrochemicals and general tendency of farmers towards sustainable organic farming techniques.
Some of the market players include Monsanto, Bayer CropScience, Syngenta AG, SinoHarvest Corporation, Shanghai Mingdou Agrochemical Co. Ltd. and Shanghai Tenglong Agrochemical Co. Ltd., among others.
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