Copper Sulfate Market Size Report Analysis by Restrictive Factors, Competitive Landscape, Drivers and Forecast from 2021 to 2030

Allied Market Research recently released a report titled "Copper Sulfate Market," projecting a growth from $0.8 billion in 2020 to an estimated $1.3 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 5.4% over the period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/13499

The key drivers of this market growth include the increased demand for electrical, electronic, and textile products, as well as a global rise in the demand for food leading to an increased need for agrochemicals. However, the report notes that the use of copper sulfate can pose health issues, and the growing production of eco-friendly agricultural products might act as a restraint. On a positive note, rapid developments in electrical and construction technology are expected to create new opportunities for the global copper sulfate market.

The COVID-19 pandemic has impacted the market dynamics. High copper sulfate prices were observed due to elevated sulphuric acid costs and limited regional supply of necessary raw materials. Infrastructure project delays in developing countries led to a decline in demand, but the health care industry witnessed an increased demand for copper sulfate during the pandemic.

The Pentahydrate segment is projected to maintain its leading position, contributing to over two-fifths of the market share, driven by factors such as population growth, increased food demand, and its use in agriculture for manufacturing insecticides and fungicides. Meanwhile, the anhydrous segment is expected to exhibit the highest CAGR of 5.4% from 2021 to 2030.

In terms of applications, the agriculture segment held the highest market share in 2020 and is expected to continue leading the market. The chemicals segment, however, is anticipated to have the highest CAGR of 6.5% from 2021 to 2030.

Regionally, Asia-Pacific, followed by North America, dominated the market in 2020 and is projected to maintain its lead by 2030. The Asia-Pacific region is expected to manifest the highest CAGR of 6.7% from 2021 to 2030, driven by the significant consumer base for copper sulfate, particularly in China and India, where the large populations contribute to the demand for copper sulfate-based agrochemicals.

Key market players in the copper sulfate industry include Blue Line Corp., Beneut Enterprise Co. Ltd., Sumitomo Metal Mining Co. Ltd., Changsha Haolin Chemicals Co. Ltd., Highnic Group, Noah Technologies Corp., MEEK Industrial Group, Old Bridge Chemicals Inc., Univertical LL, and JX Nippon Mining & Metals Corp.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.alliedmarketresearch.com/copper-sulfate-market-A13134

Contact:

David Correa

United States

1209 Orange Street,

Corporation Trust Center,

Wilmington, New Castle,

Delaware 19801 USA.

Int'l: +1-503-894-6022

Toll Free: +1-800-792-5285

Fax: +1-800-792-5285

help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

About Us

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 domain.

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.

This release was published on openPR.