The latest report by IMARC Group, titled “Copper Sulphate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global copper sulphate market has grown at a CAGR of around 5% during 2009-2016, reaching a volume of more than 300 Thousand Tons in 2016. Copper sulphate (CuSO4) is an inorganic compound found in the form of bright blue or green coloured crystals. Due to its colour, these crystals are also known as bluestone, vitriol of copper, blue vitriol or roman vitriol. This copper salt is produced industrially by treating copper metal or its oxides with hot concentrated sulfuric acid. Alternatively, it can also be produced by slowly leaching low grade copper ore in air. Copper sulphate has a wide range of applications and has been used since ages for the manufacturing of products ranging from fungicides to paints.
Highlights of the global copper sulphate market:
- Copper sulphate finds diverse applications in industries such as agriculture, healthcare, textile, etc.
- The farming and animal husbandry sector holds the largest share in the market.
- On the basis of consumption, Asia-Pacific dominates the market.
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In agriculture sector, copper sulphate is used in herbicides, fungicides and fertilizers, and as a soil steriliser in copper deficient soils. In the healthcare sector, it is used in sterilizers, disinfectants and in the manufacturing of copper catalysts. It is also used in the production of anti-sceptic agents which are used in swimming pools to inhibit the bacterial growth. Apart from this, copper sulphate finds numerous applications in sectors such as adhesive, chemical, metal, mining, paint, synthetic fibre, etc. According to the report, the market is further expected to grow at a CAGR of 4% during 2017-2022, reaching a volume of more than 400 Thousand Tons by 2022.
The global copper sulphate market has been segmented on the basis of end-uses. It finds a wide range of applications in industries such as farming, animal husbandry, healthcare, textile, etc. Amongst these, farming and animal husbandry is considered as the biggest market. Based on region, it is found that Asia-Pacific represents the biggest consumer of copper sulphate. Other major regions are North America, Latin America, Europe, and Middle East and Africa. The US represents the largest importer of copper sulphate followed by Australia, Canada, Indonesia, Netherlands. The Russian Federation, on the other hand, is the world’s largest exporter of copper sulphate accounting for around one-fifth of the total global exports. On analysing the competitive landscape of the market, the major manufacturers found are Lustros Inc., NEKK Europe Ltd., Xintai Copper Industrial Co. Ltd., Yunnan Copper Company Ltd., SimpL, Cuprichem, Old Bridge Chemicals Inc. and UMMC.
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The report by IMARC Group has examined the global copper sulphate market on the basis of:
- Farming and Animal Husbandry
- Other Applications
- North America
- Latin America
- Middle East and Africa
- Lustros Inc.
- NEKK Europe Ltd.
- Xintai Copper Industrial Co. Ltd.
- Yunnan Copper Company Ltd.
- Old Bridge Chemicals Inc.
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