Global Copper Sulfate Pentahydrate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Copper Sulfate Pentahydrate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Copper Sulfate Pentahydrate is a common inorganic salt, usually a bright blue crystal. Copper sulfate pentahydrate has a wide range of applications. In the agricultural industry, copper sulfate pentahydrate is widely used as a fungicide, herbicide, and feed. In the healthcare industry, it can be used as a disinfectant and emetic. In addition, it can also be used to make pesticides, wood preservatives, and analytical reagents. However, copper sulfate pentahydrate is toxic, and long-term exposure to copper sulfate pentahydrate may cause harm to the human body.

Market Overview:

The latest research study on the global Copper Sulfate Pentahydrate market finds that the global Copper Sulfate Pentahydrate market reached a value of USD 1351.15 million in 2022. It’s expected that the market will achieve USD 1942.74 million by 2028, exhibiting a CAGR of 6.24% during the forecast period.

On the one hand, the COVID-19 outbreak has affected the upstream copper supply chain of copper sulfate pentahydrate. Of the top 10 copper mines in the world in 2019, 8 are located in Latin America, and 7 of these are located in Chile and Peru-two countries on the long and narrow copper belt. Under the epidemic, Chile and Peru closed their borders with people on March 16 and 17, respectively. Due to the raging epidemic in Congo, the Ivanhoe Zijin Kamoa copper mine in the country has also begun to be closed for management. Many companies have slowed down their production progress and the copper industry supply has decreased. COVID-19 has not only affected the production of copper mines, but also global transportation. Due to the need for epidemic quarantine, the efficiency of recent shipping schedules is low, which undoubtedly increases the time cost for the copper sulfate pentahydrate industry.

On the other hand, COVID-19 has also had an impact on the downstream application of copper sulfate pentahydrate. The main application field of copper sulfate pentahydrate is agriculture. The outbreak of COVID-19 has had a negative impact on the agriculture and aquaculture industries. The virus has a long incubation period and is highly contagious. Countries have adopted measures to control the infection rate. Due to changes in consumer demand, market access or logistical issues related to transportation and border restrictions have restricted the circulation of agricultural and aquaculture food products. Many farmers and aquaculture farmers are facing the cancellation of orders and the possible impact of delayed sales on product marketability and prices. The COVID-19 outbreak has disrupted the market demand and supply chain of the agriculture and aquaculture industries. Copper sulfate pentahydrate products used in these industries are also affected.

In the short term, COVID-19 has inhibited the development of the copper sulfate pentahydrate industry. In the long term, although the epidemic situation in some areas is gradually under control, it will take time for downstream industries to return to normal, and it will take a long time for the copper sulfate pentahydrate industry to return to normal.

Agricultural development and changes in diet.

Around the world, enough food is produced to meet the needs of the global population, but more than 690 million people are still hungry. The number of hungry people in the world accounts for approximately 8.9% of the world's total population. The number of undernourished and malnourished people is increasing every year. Under such circumstances, the Asia-Pacific region, especially China and India, as the two most populous countries in the world, are actively developing agricultural activities in the hope of solving the problems of food shortages and diseases caused by hunger. Agricultural production in the United States and Canada is also high. The increase in agricultural activities has driven the demand for agricultural chemicals such as herbicides and pesticides. The demand for copper sulfate pentahydrate as a raw material for the manufacture of herbicides and pesticides is also increasing. In addition, with the development of the economy and the increase in consumer spending power, the dietary structure has also changed. The animal feed industry and the aquaculture industry also saw growth. The demand for feed grade copper sulfate pentahydrate is also increasing.

Improvement of manufacturing process

At present, the raw materials for the production of copper sulfate pentahydrate mainly include waste electrolyte produced by copper electrolytic refining, waste copper, printed circuit board etching waste liquid, copper ore, copper smelting soot, and waste residue. The general methods for the production of copper sulfate pentahydrate mainly include ammonia leaching, catalytic oxidation, acid-base neutralization, and extraction. Different production processes have their own advantages and disadvantages. In some production processes, toxic substances may be produced, and some methods may have many impurities in the product. For different downstream applications and upstream sources of raw materials, the improvement of the manufacturing process of copper sulfate pentahydrate is under continuous development. How to produce high-quality copper sulfate pentahydrate more safely and environmentally is the development trend of the industry.

Region Overview:

From 2022-2027, Asia Pacific is estimated to witness robust growth prospects

Company Overview

Jinchuan Group, Laiwu Iron and Steel Group, Sumitomo were the top 3 players in the Copper Sulfate Pentahydrate market in 2022, taking up a market share of 36.69% together.

Segmentation Overview:

By type, Agricultural Grade segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Aquaculture segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Copper Sulfate Pentahydrate market covered in Chapter 3:

Green Mountain Chemical Co., Ltd.
Sumitomo
Suzhou Huahang Chemical Technology Co. Ltd
Blue Line Corporation
JX Nippon Mining & Metals Corporation
Univertical Corp.
Bakirsulfat
Dongjiang Environmental Company Limited
Beneut
Mani Agro Industries
G.G.Manufacturers
Old Bridge Chemicals
Laiwu Iron and Steel Group
Jinchuan Group
Highnic Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Copper Sulfate Pentahydrate market from 2018 to 2029 is primarily split into:

Industrial Grade
Agricultural Grade
Feed Grade
Electroplating Grade
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Copper Sulfate Pentahydrate market from 2018 to 2029 covers:

Agriculture and Forestry
Aquaculture
Chemical Industry
Electroplating and Galvanic
Metal and Mine
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)