Copper sulfate is an inorganic compound combined with sulfur and copper, which is stable at room temperature and pressure, does not deliquescent, and gradually weathers in dry air. It kills bacteria, algae, roots, plants, snails, and fungi, and its toxicity depends on the amount of copper. Copper is an important mineral that is found in the environment, food, and water. Since 1956, copper sulfate has been registered in the United States for use in pesticide products, and since then, the copper sulfate industry has flourished.
Copper sulphate (CAS 7758-98-7) can be divided into industrial grade and agricultural grade according to type: industrial grade copper sulphate has a purity of 96% and an acidity of less than 0.2%. Agricultural-grade copper sulphate has a purity of 98%, a copper content of more than 20%, and a small amount of metal, which is widely used in global agriculture, accounting for 75.25% of the market share in 2013.
Copper sulphate (CAS 7758-98-7) is widely used in daily life, mainly in industry and agriculture. It can provide nutrients to a variety of domestic animals, not only to benefit their growth, but also to prevent many clinical and pathological diseases, and is very popular with the general public, so it also occupies a high market share. In addition, copper sulfate is mixed with lime milk to obtain a Bordeaux mixture as a fungicide, which is very effective against fungi, algae, bacteria and viruses, and can be used as a fungicide mixture for trees, shrubs and vines, and also plays an indispensable role in coatings, water treatment, wood preservation, food and beverage industries. In addition to this, copper sulphate can also be used as an electrolyte for electrolytic copper refining. Only with an electrolyte solution such as copper sulfate solution, electroplating copper can use an electric current to transfer copper from the cathode of copper to an anode made of another metal through electrolysis, and successfully complete the electroplating process. Copper sulphate is also widely used in the mining industry to dissolve the surface layer of the ore and facilitate mining.
Copper sulfate (CAS 7758-98-7) industry market prospect analysis by region
The Asia-Pacific region is the world's largest consumer market with a rapidly growing economy. The North American market ranked second, with a consumer market share of 29.39% in 2017. Europe's consumer market share in 2017 was 24.21%, second only to the United States. In addition, the copper sulphate market in South America and Africa (CAS 7758-98-7) is expected to be the fastest-growing market. The economic development of emerging economies such as India, the Philippines, Thailand, Brazil, Saudi Arabia, and Vietnam, the tremendous development of downstream markets, and the advancement of technological innovation, have led to the growth in demand.
North America is the largest importer of copper sulphate (CAS 7758-98-7), with India, the Middle East and Africa being the largest copper sulphate consumer markets. The Asian region, affected by agriculture and grazing, has become the largest importing region. Europe is a major exporter and basically monopolizes the copper sulfate market, while other countries mostly rely on imports, mainly due to the uneven distribution of resources.
After a period of development, the copper sulfate industry has entered a mature period. Copper sulfate (CAS 7758 -98-7) high-end enterprises are mainly from Japan, Europe and the United States, and low-end enterprises are mainly from China and Southeast Asia; The industrial concentration rate is relatively high. The top three companies occupy 26.09% of the market share, namely UMMC, XinTai Copper Industrial Co., LTD and NEKK Industrial Group, with a revenue market share of 9.82%, 8.96% and 7.31% in 2017 respectively.
The copper sulfate (CAS 7758-98-7) industry market will develop steadily
According to our research, the total sales of the global copper sulphate (CAS 7758-98-7) market was USD 612.99 MN in 2013, which increased to USD 685.57 MN in 2018. We forecast that the copper sulfate (CAS 7758-98-7) market will be worth $767.67 million by 2023. Copper sulfate (CAS 7758-98-7) has a compound CAGR of 2.30% from 2017 to 2023.
The global copper sulphate (CAS 7758-98-7) industry is expected to boom in the foreseeable future, and a major factor driving the growth of the market is the increasing use of copper sulphate in the chemical industry, primarily as a source of glass purification, catalysts, and copper. Copper sulphate (CAS 7758-98-7) is also the electrolyte of choice for various applications such as electroplating, refining, and battery development, which has further increased the demand for copper sulphate across the globe. With the development of the economy and the increase in the demand for downstream fungicides and electroplating applications, the market for copper sulphate will grow steadily. However, due to the presence of dioxins in copper sulfate, long-term exposure will cause toxicity, and its use in agricultural production will also cause environmental pollution, which will hinder the development of the global copper sulfate market. Moreover, in many advanced economies, economic growth remains relatively low, productivity growth is slow, and low aggregate demand and low levels of economic activity discourage investment.
The growth of the copper sulphate (CAS 7758-98-7) market is largely driven by downstream consumption. With the development of the economy and the continuous expansion of the market in the fungicide and electroplating industry, the copper sulfate (CAS 7758 -98-7) market will grow slightly in the future. However, in some regions, a lack of technology, stricter environmental policies will be a limiting factor for the industry.
While the sale of copper sulphate (CAS 7758-98-7) presents some opportunities, especially in emerging countries, the research team advises new entrants who do not have the advantages of the value chain and accurate positioning of downstream segmentation not to enter the copper sulphate (CAS 7758-98-7) space. In addition, companies in this industry should focus on R&D, constantly introduce new products, and constantly innovate and improve services, so as to gain a competitive advantage and gain a larger market share.