Scienza e Tecnologia
Copper Chemicals Market to Garner $4.04 Billion, Globally, By 2030 at 4.5% CAGR, Says Allied Market Research
Increase in need for yield-enhancing agrochemicals and surge in demand for fruits and vegetables and fungicides drive the growth of the global copper chemicals market. However, harmful effects of copper chemicals due to their toxicity hinder the market growth. On the other hand, government initiatives to promote the domestic manufacturing of agrochemicals present new opportunities in the coming years.
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Based on component, the copper sulfate segment held the highest market share in 2020, accounting for nearly four-fifths of the global copper chemicals market, and is estimated to maintain its leadership status throughout the forecast period. This is due to rise in demand from the agrochemical industry across the globe for pesticide production. However, the cupric oxide segment is projected to manifest the highest CAGR of 7.1% from 2021 to 2030, owing to rise in building and construction industry across the globe, which led to rise in demand for ceramic tiles.
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Based on application type, the agriculture segment accounted for the largest share in 2020, contributing to nearly three-fourths of the global copper chemicals market, and is projected to maintain its lead position during the forecast period. This is due to increase in farmers' focus on improving productivity and reducing the damage caused by fungi, algae, and bacteria with the help of pesticides such as herbicide, bactericide, and fungicide. However, the ceramic segment is expected to portray the largest CAGR of 6.4% from 2021 to 2030, owing to rise in building and construction industry across the globe.
Based on region, Asia-Pacific , followed by Europe and North America , held the highest market share in terms of revenue 2020, accounting for more than half of the global copper chemicals market. This is due to the wide usage of copper in production of pesticides such as herbicide, bactericide, and fungicide. Moreover, the region is expected to witness the fastest CAGR of 4.8% during the forecast period.
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Copper Sulphate Market: Global Opportunity Analysis and Industry Forecast, 2021–2030
Agrochemicals Market: Global Opportunity Analysis and Industry Forecast, 2019-2026
Construction Chemicals Market: Global Opportunity Analysis and Industry Forecast, 2019 - 2026
Copper Foil Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Specialty Chemicals Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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