Detailed Growth Trends and Predictions for 2030

Copper Sulfate Market Forecast

The rising consumption of electrical and electronic products, as well as textile items, is a major driver of the market. WILMINGTON, DE, UNITED STATES, October 11, 2024 /EINPresswire.com/ -- The copper sulfate market is projected for significant growth according to the recent report published by Allied Market Research, 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." The report states that the global copper sulfate market, valued at $0.8 billion in 2020, is expected to reach $1.3 billion by 2030, registering 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/8300

Key Market Drivers:

- Growing demand in electronics and textiles: The rising consumption of electrical and electronic products, as well as textile items, is a major driver of the market.
- Increasing need for agrochemicals: The global rise in food demand has spurred the use of copper sulfate in agriculture, particularly for producing insecticides and fungicides.

However, concerns about the health risks associated with copper sulfate consumption and the shift towards eco-friendly agricultural products present challenges to market growth. On the positive side, advances in electrical and construction technologies provide new opportunities for market expansion.

Segment Highlights:

- Pentahydrate Segment Dominance: In 2020, the Pentahydrate segment held over 40% of the market and is expected to maintain this leadership position through 2030. Its usage in agriculture to address copper deficiencies in soil and livestock is a key growth factor. Meanwhile, the anhydrous segment is set to grow at the fastest rate of 5.4% during the forecast period.

- Agriculture Application Lead: Accounting for more than two-fifths of the market share in 2020, the agriculture segment is projected to continue leading through 2030. This growth is driven by the need for enhanced crop yields and the role of copper sulfate in plant health. The chemicals segment is expected to experience the highest CAGR of 6.5% from 2021 to 2030.

Regional Insights:

Asia-Pacific Leads the Market: Asia-Pacific, followed by North America, was the largest regional market in 2020, holding nearly one-third of the global market share. The region's dominance is expected to continue, with a forecasted CAGR of 6.7% from 2021 to 2030. The large populations of China and India drive demand for agrochemical solutions like copper sulfate to improve agricultural productivity.

Key Market Players:

- 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 LLC - JX Nippon Mining & Metals Corp.

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

David CorreaAllied Market Research+1 800-792-5285email us hereVisit us on social media:FacebookX

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October 11, 2024, 16:03 GMT

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