Copper Oxychloride Market
Copper Oxychloride Market for Fungicide, Colorants & Pigments, Commercial Feed Supplement, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Press Release :
Copper oxychloride, also known as tribasic copper chloride (TBCC), is a greenish colored solid that is crystalline in nature. Copper oxychloride is prepared through numerous methods. These include oxidation of Cu(I)Cl in brine solution and the micronutrients process with copper or cuprous oxide as raw material. Furthermore, copper oxychloride is prepared by reacting cupric chloride in solution with cupric hydroxide. Copper oxychloride is widely employed as fungicide on several fruits and vegetable plants. It is also used in commercial feed supplements, as copper is one of the vital minerals for metabolic functions. Copper oxychloride is used in pyrotechnics to make blue color. It is used in pyrotechnics owing to the low cost of the product as compared to other copper compounds. Copper oxychloride is also employed for colorant and pigment applications in ceramics and glasses. Furthermore, it is used as a catalyst for oxidation and chlorination in organic synthesis. Increasing demand for copper oxychloride in the agriculture industry owing to its usage as fungicide is a major factor driving the global copper oxychloride market. Fruits and vegetable crops are the major consumers of fungicides. Various generic and specific fungicides have been developed for applications in fruits and vegetable crops.
Copper oxychloride is used as an agricultural fungicide in the manufacture of crop protection chemicals. It is a highly efficient fungicide for crops such as tomatoes, potatoes, stone fruit, celery, grapes, avocados, citrus, carnation, and coffee. Fungicide segment dominated the global copper oxychloride market and accounted for more than 90% volume share in 2015.It is expected to remain dominant segment during the forecast period. Copper oxychloride is sprayed on crops to prevent any infection or disease and promote their healthy growth. As a coloring agent, it is used in wall paintings, illuminations, and manuscripts. Copper oxychloride is also employed in the manufacture of commercial feed supplements. It is used in feed formulations for most animal species such as turkeys, chickens, pigs, horses, dairy cattle, and pets. Copper oxychloride is employed as green or blue coloring agent in the manufacture of pyrotechnics. It is used as a catalyst for various reactions such as the production of vinyl chloride. Copper oxychloride is also employed as a catalyst for various organic synthesis reactions.
In terms of demand, Asia Pacific accounted for the more than 30% of the copper oxychloride market in 2015. Increasing usage of fungicide for crop protection in Asia Pacific coupled with rising demand for food is likely to boost the demand of copper oxychloride in the near future. China accounts for the major of demand for copper oxychloride in Asia Pacific. Developed regions such as Europe and North America are expected to hold the second and third largest share of the global market, despite the sluggish economic growth. Rapid expansion in population has raised food security concerns. Underdeveloped and developing countries still lack proper infrastructure for storage and distribution of food grains. Significant increase in yield is possible through the usage of agrochemicals such as fungicides. Thus, the fungicide market is anticipated to expand at a rapid pace. Governments across the world are promoting the use of agrochemicals such as fungicides to secure food supply for their citizens. Latin America is anticipated to experience strong demand for copper oxychloride during the forecast period due to the rising usage of agrochemical products and higher usage of fungicide for crop protection.
Key players operating in the copper oxychloride market include Albaugh, LLC, Biota Agro Solutions Private Limited, IQV, Isagro S.p.A., Killicks Pharma, Manica S.p.A., SPIESS-URANIA, Syngenta, and Vimal Crop Care Pvt. Ltd.
Increase in Agricultural Activities to Boost the Growth Prospects of the Copper Oxychloride Market
The copper oxychloride market is estimated to witness profitable growth opportunities across the assessment period of 2016-2024 on the back of the rising agricultural activities. The growing influence of agriculture in densely populated countries like India and China will bring good growth opportunities for the copper oxychloride market. The increasing prominence of copper oxychloride in preparing fungicides and commercial feed supplements will bring tremendous growth prospects.
- Copper oxychloride, chemically formulated as CuCl23Cu(OH)2 is produced synthetically and is found in natural minerals. The increasing consumption of vegetables and fruits is expected to bring extensive growth prospects for the copper oxychloride market.
- Government initiatives to promote the use of fungicides among farmers will serve as a great growth opportunity for the copper oxychloride market. Copper oxychloride with less pH value is used in preparing tea and copper oxychloride with a high pH value is used in fungicides.
- The ongoing research and development activities will turn the tables of growth across the copper oxychloride market. The players in the copper oxychloride market invest heavily in these activities for deriving new formulations. The activities help in increasing the revenues of the players in the copper oxychloride market.
- Strategic collaborations play a vital role in the growth of the copper oxychloride market. The players in the copper oxychloride market focus on these collaborations for strengthening their influence. All these aspects eventually contribute to the growth of the copper oxychloride market.
- The COVID-19 pandemic has influenced the growth prospects of the copper oxychloride market to a considerable extent. The growing transmission levels of the virus forced many countries to impose strict lockdowns. These lockdowns resulted in the shutting down of manufacturing facilities and production units, eventually declining the production of copper oxychloride.
- After a brief period, many countries announced several relaxations in the restrictions, which will prove to be a boon for the growth of the copper oxychloride market.
The report analyzes and forecasts the copper oxychloride market on the global and regional level. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (tons) and revenue (US$ thousand).
The study provides a decisive view of the copper oxychloride market by dividing it into application and regional segments. Application segments have been analyzed based on current trends and future potential. Regional segmentation includes current and forecast demand for copper oxychloride in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions have been further sub-segmented into major countries and sub-regions with relevance to the market. Segmentation also includes demand for individual application type in all the regions and countries.
The study covers drivers and restraints governing the dynamics of the market along with their impact on demand during the forecast period. Additionally, the report comprises opportunities in the copper oxychloride market on the global and regional level. The report includes detailed value chain analysis to provide a comprehensive view of the copper oxychloride market. Analysis of Porter’s Five Forces model has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications have been benchmarked based on their market size, growth rate, and general attractiveness for future growth.
The market has been forecast based on constant currency rates. Prices of copper oxychloride vary in each region and are a result of the demand-supply scenario. Hence, a similar volume-to-revenue ratio does not follow for each individual region. Individual pricing of copper oxychloride for each application has been taken into account while estimating and forecasting market revenue on the global level. Regional average price has been considered while breaking down the market into application segments in each region. The report provides the size of the copper oxychloride market in 2015 and the forecast for the next eight years. Numbers provided in the report are derived based on demand generated from different applications.
Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. Prices of commonly utilized grades of copper oxychloride in each application have been considered, and customized application pricing has not been included. Demand for copper oxychloride has been derived by analyzing the global and regional demand for copper oxychloride in each application. The global copper oxychloride market has been analyzed based on expected demand. Market data for each segment is based on volume and corresponding revenue. Prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback and application requirement. Forecasts have been based on expected demand for copper oxychloride in different applications. The global application segment split of the market has been derived using the bottom-up approach, which is cumulative of each region’s demand. Companies were considered for market share analysis based on their end-user portfolio, revenue, and manufacturing capacity. In the absence of specific data related to sales of copper oxychloride by several privately held companies, calculated assumptions have been made in view of companies’ application portfolio and regional presence along with demand for copper oxychloride in different applications in their portfolio.
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players include Albaugh, LLC, Biota Agro Solutions Private Limited, IQV, Isagro S.p.A., Killicks Pharma, Manica S.p.A., SPIESS-URANIA, Syngenta, and Vimal Crop Care Pvt. Ltd. Company profiles comprise attributes such as company overview, brand overview, financial overview (in terms of financial year), business strategies, and recent/key developments.
The report segments the global copper oxychloride market as follows:
Copper Oxychloride Market - Application Analysis
- Colorants & Pigments
- Commercial Feed Supplement
- Others (Including pyrotechnics and catalyst)
Copper Oxychloride Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of MEA