Copper Sulfate Market Growing Trade among Emerging Economies Opening New Opportunities by 2030

Rise in investments to build infrastructures, use of copper sulfate as an animal feed addition, and rapid increase in the use of electronic products.

WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- Allied Market Research recently 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 market was valued at $0.8 billion in 2020 and is projected to reach $1.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/13499

Key Market Drivers:

The market growth is primarily driven by increasing demand for electrical & electronic and textile products, as well as rising global food demand which boosts the need for agrochemicals.

Market Challenges:

However, the intake of copper sulfate can lead to health issues, and the growing production of eco-friendly agricultural products poses a restraint to market growth. Despite these challenges, rapid advancements in electrical and construction technologies present new opportunities for the global copper sulfate market.

Segment Insights:

The Pentahydrate segment dominated the market in 2020, holding more than two-fifths of the global market share, and is expected to maintain its leading position through 2030. This growth is driven by its extensive use in agriculture for manufacturing insecticides, fungicides, and addressing copper deficiency in soil and animals. Meanwhile, the anhydrous segment is anticipated to grow at the highest CAGR of 5.4% during the forecast period.

Application-wise, the agriculture segment led the market in 2020, accounting for over two-fifths of the market share, and is projected to continue leading through 2030. The chemicals segment is expected to grow at the highest CAGR of 6.5% from 2021 to 2030.

Regional Analysis:

Asia-Pacific, followed by North America, held the largest market share in 2020, contributing nearly one-third of the global market, and is expected to maintain its dominance through 2030. The Asia-Pacific region is projected to grow at the highest CAGR of 6.7% during the forecast period, driven by significant demand from countries like China and India, which have large populations and utilize copper sulfate for enhancing crop yields.

Key Players:

Key players in the global copper sulfate market 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.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞:
https://www.alliedmarketresearch.com/copper-sulfate-market/purchase-options

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