Rise in investments to build infrastructures, use of copper sulfate as an animal feed addition, and rapid increase in the use of electronic products are the factors that drive the global market growth. The growth in the production of eco-friendly agriculture products will also create restraint to the copper sulfate market. Moreover, rapid development in electrical and construction technology will open many doors of opportunities to the global copper sulfate market.
Allied Market Research published a report, titled, “Copper Sulfate Market by Type (Anhydrous, Pentahydrate, and Others) and Application (Chemicals, Agriculture, Construction, Mining & Metallurgy, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global copper sulfate industry was worth $0.8 billion in 2020, and is anticipated to reach $1.3 billion by 2030, witnessing a CAGR of 5.4% from 2021 to 2030.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The copper sulfate market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the copper sulfate market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the copper sulfate market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The agriculture segment contributed for the highest market share in 2020, accounting for more than two-fifths of the global copper sulfate market, and is anticipated to lead the market during the forecast period. Rise in the need for high-quality food is helping agrochemical companies to invest and develop high-quality, chemicals in order to boost the crop yield. Copper sulfate is vital to growing plants. On the other hand, the chemicals segment is anticipated to manifest the highest CAGR of 6.5% from 2021 to 2030.
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Some ruling enterprises in the global copper sulfate market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global 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.
Asia-Pacific, followed by North America, held the highest market share in 2020, contributing to nearly one-third of the global copper sulfate market, and is expected to dominate the market by 2030. The region is expected to manifest the highest CAGR of 6.7% from 2021 to 2030. The Asia-Pacific dominates this market due to the presence of huge consumers of copper sulfate. China and India have a huge population, and hence need copper sulfate-based agrochemicals to improve and increase crop yields.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the copper sulfate market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the copper sulfate market
- Post-sales support and free customization
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