Copper Sulfate Market Outlook - 2021–2030
The global copper sulfate market size was valued at $0.8 billion in 2020, and copper sulfate market forecast projected to reach $1.3 billion by 2030, with global copper sulfate market forecast expected at a CAGR of 5.4% from 2021 to 2030.
Copper sulfate is an inorganic compound with the chemical formula CuSO4 (H2O)x where “x” denotes number of water molecules. Pentahydrate of copper sulfate is the most common form and can also be known as blue stone, blue vitriol, and roman vitriol. It is blue in color and exothermically dissolves in water to give a complex solution. It consists of 25.47% copper, 38.47% sulfate and 36.06% water by mass. Anhydrous copper sulfate is a light grey powder in which 39.81% copper and 60.19% sulfate by mass is present. Industrially it is produced by treating copper metal with hot concentrated sulfuric acid or the oxides of dilute sulfuric acid. It can also be produced by leaching low grade copper ore in air which is a time-consuming process but can be completed quickly using a specific-bacterium. It is one of the major raw materials used in fertilizer industries to make fungicides and pesticides. Copper sulfate has applications in several end uses such as chemicals, agriculture, healthcare, construction, mining & metallurgy, and others. Increase in population and development of technology has provided comfortable life lead to decrease in material resources, especially related to food. Copper sulfate is extensively used in the agriculture particularly as a fungicide. It is also widely used as an animal feed addition, where copper is needed for animals to keep their optimal body functioning. Rapid development in the use of electrical and electronic products requires huge amount of copper for electrical conduction. It is often used as an electrolyte in the metal and electrical industries for application such as refining, electroplating, and battery development. Rise in need for energy storage devices in small-scale and large-scale electronic projects is increasing demand for copper sulfate across the globe. Increase in investments by developing countries for developments of various infrastructures that require copper sulfate in variety of activities propels the market growth. Rise in need for material resources have increased the mining sector where copper sulfate is used as a flotation reagent in concentration ores and as raw materials for copper naphthenate and other copper compounds, which are used as anti-fouling agents in the paint industry. The above-mentioned applications are expected to provide ample opportunities for growth of the copper sulfate market.
Copper sulfate has mild toxins as they are made by heating copper and sulphuric acid. Long-time intake or exposition to this product has health effects. Hence, demand for copper sulfate is declining in most consumer nations. Increase in awareness among people regarding organic foods, and pollution caused by tanning in textile and leather industry are some factors that hamper growth of the copper sulfate market during the forecast period.
The global copper sulfate market is segmented on the basis of form, application, and region.
On the basis of form, the global copper sulfate market is segmented into anhydrous, pentahydrate, and others. The applications covered in the study include chemicals, agriculture, construction, healthcare, mining & metallurgy, and others.
Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by North America and Europe.
The major companies profiled in this report include 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., Old Bridge Chemicals Inc., Sumitomo Metal Mining Co. Ltd., and Univertical LL.
Global Copper Sulfate Market, By Region
Asia-Pacific accounted for a major market share in 2020, owing to demand from the agriculture, construction, and healthcare industry coupled with increasing number of agricultural activities in the region.
By Region
Asia Pacific holds a dominant position in 2020
Global Copper Sulfate Market, By Type
The pentahydrate segment accounted for a major share in the copper sulfate market in 2020, as copper sulfate is used as an additive in animal feed for proper body functioning.
By Type
Pentahydrate is projected to create abundant $ opportunity till 2030
Global Copper Sulfate Market, By Application
The agriculture segment accounted for a major share in the copper sulfate market in 2020 as copper sulfate is highly employed in fungicides, herbicides, fertilizers, etc. coupled with increasing demand of copper sulfate in agriculture sector for protection of fruits, vegetables and other crops from bacterial and fungal growth.
By Application
Agriculture is projected as the most lucrative segment.
Key benefits for stakeholders
- The global copper sulfate market analysis covers in-depth information of major industry participants.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Major countries have been mapped according to their individual revenue contribution to the regional market.
- The report provides in-depth analysis of the global copper sulfate market forecast for the period 2021–2030.
- The report outlines the current global copper sulfate market trends and future scenario of the global copper sulfate market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- Key drivers, restraints, & opportunities and their detailed impact analysis are explained in the global copper sulfate market study.
Impact Of Covid-19 On The Global Copper Sulfate Market
- Emergence of COVID-19 had a negative impact on growth of the global copper sulfate market for a more than 18 months in industrial sector.
- Copper sulfate has high cost during this pandemic period due to the price of copper oxide and sulphuric acid cost due to various restrictions on regional supply due to lockdown which lead to transportation shutdown.
- Decline in demand for copper sulfate in the electronic and other industries have negative impact on the market during this period in these sectors. Outbreak of pandemic created a substantial shift of increase .in demand of copper sulfate from the health care industry.
- Growth in awareness among the people towards the eco-friendly products during this pandemic time as copper sulfate is an unnecessary danger and water can be contaminated in the ponds and lakes which can be harmful to animals and people.
- Outbreak of COVID-19 halted the many infrastructure projects in the developing countries which also lead to decline of demand of this product in this sector.
- Thus, the abovementioned factors are expected to have positive impact of the global copper sulfate market growth in current times in the infrastructure development of developed countries.
Key Market Segments
By Type
- Anhydrous
- Pentahydrate
- Others
By Application
- Chemicals
- Agriculture
- Construction
- Healthcare
- Mining and Metallurgy
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key players in the global Copper Sulfate market are:
- 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.
- Old Bridge Chemicals Inc.
- Sumitomo Metal Mining Co. Ltd.
Copper Sulfate Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By APPLICATION |
|
 By Region |
|
 Key Market Players | Sumitomo Metal Mining Co. Ltd., JX Nippon Mining & Metals Corp., Changsha Haolin Chemicals Co. Ltd., Beneut Enterprise Co. Ltd., Blue Line Corp., Old Bridge Chemicals Inc., Univertical LL, Highnic Group, NEKK Industrial Group, Noah Technologies Corp. |
Analyst Review
The global copper sulfate market is expected to have increase in demand during the forecast period, owing to steady increase in growth of population and depletion of good cultivation lands.
Increase in demand for electrical gadgets and electric power source driven products will require various chemicals, which are produced using copper sulfate as raw material for energy storage, electroplating, and etching. Increase in demand for renewable energy sources also increased the need for complete transmission and distribution system. Hence, lead to increase demand for the copper sulfate market in the chemical sector. Rapid development in technology and increase in applications of copper sulfate in various end-use industries such as construction, agriculture, healthcare, mining, and metallurgy are key factors for growth of the copper sulfate market during the forecast period.
Moreover, to live a comfortable life people need food, clothing, and technological gadgets, which can reduce physical burden and repeated work. Hence, copper sulfate is used in the above-mentioned needs to provide comfortable life. Presence of these needs expected to drive the global copper sulfate market demand throughout the forecast period.
The COVID-19 pandemic has negatively impacted the due to decline in the demand of copper chemicals in various end-user industries. Increase in price of copper oxide, sulphuric acid due to transportation and production difficulties, and volatility of fossil fuel prices, respectively, has led to shut down of various industries. Decline in demand for copper sulfate in other sectors has been balanced, owing to substantial shift of copper sulfate demand in the health care industry in these pandemic times.
Moreover, companies are innovating and following the trend to develop new health care and eco-friendly agrochemical products, which boost growth of the copper sulfate market throughout the forecast period.
Increase in the demand for electrical & electronic and textile products, increase in demand for food across the world lead to the demand for agrochemicals
The expected market value of copper sulfate by 2030 is US$ 1.3 billion
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., Old Bridge Chemicals Inc., Sumitomo Metal Mining Co. Ltd., and Univertical LL
Agriculture is projected to increase the demand for copper sulfate Market
The global copper sulfate market is segmented on the basis of form, application, and region. On the basis of form, the global copper sulfate market is segmented into anhydrous, pentahydrate, and others. The applications covered in the study include chemicals, agriculture, construction, healthcare, mining & metallurgy, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Rapid development in agriculture and construction industry is the Main driver of copper sulfate market
Agriculture, healthcare, mining and metallurgy is expected to drive the adoption of copper sulfate
Emergence of COVID-19 had a negative impact on the growth of the global copper sulfate market for a short period.
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