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.
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Allied Market Research published a new 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” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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.
This makes it important to understand the practical implications of the copper sulfate market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
Increase in the demand for electrical & electronic and textile products and rise in demand for food across the world that raised the demand for agrochemicals are the key factors boosting the global copper sulfate market.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players including Beneut Enterprise Co. Ltd., Blue Line Corp, Changsha Haolin Chemicals Co. Ltd., Highnic Group, JX Nippon Mining & Metals Corp., NEKK Industrial Group, Noah technologies Corp., which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
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.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the copper sulfate market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
The Pentahydrate segment contributed to the highest market share in 2020, accounting for more than two-fifths of the global copper sulfate Market, and is projected to maintain the leading position during the forecast period. This growth is due to increase in population, demand for food, and rise in use in the agriculture sector to manufacture insecticides, fungicides, to recover the copper deficiency in the soil and animal. On the other hand, the anhydrous segment is anticipated to manifest the highest CAGR of 5.4% from 2021 to 2030.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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