Copper Sulfate Market: Research Report & Industry Analysis

 


Copper Sulfate is within personal care products. It can be used as a fungicide and herbicide for the treatment of orchards and vineyards and in industrial production of Rayon.

Market Dynamics

Increasing focus on aesthetic appeal is expected to propel growth of the Copper Sulfate market. For example, in accordance with a 2018 survey by GlobalData, around three quarters of South Korean men undertake a beauty or grooming treatment one or more times a week. Moreover, increasing expenditure on personal maintenance systems can be expected to aid in growth of the market. For example, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal maintenance systems in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018.

Increasing demand for food is expected to boost demand for fungicide and herbicide, thereby offering lucrative growth opportunities for players in the copper sulfate market. For example, in accordance with Food and Agriculture Organization, worldwide food demand is expected to improve by 70% by 2050. Moreover, increasing demand for Rayon fabrics and growth in the textile sector can be expected to aid in growth of the market. For example, in accordance with National Council of Textile Organizations (NCTO), 2018 state of the U.S. Textile Industry Address, in 2017, the worthiness of U.S. man-made fiber and filament, textile, and apparel shipments totaled an estimated US$ 77.9 billion, a growth from US$ 74.4 billion in output in 2016 and a growth of 16% since 2009.

However, significant drop in wine production worldwide is expected to limit demand for copper sulfate in orchards and vineyards. As a result is expected to hinder growth of the copper sulfate market. For example, according to the International Organization of Vine and Wine, the world's total wine production in 2019 was estimated to be 263 million hectoliters, a fall of 10% in comparison to 2018.

Competitive Analysis

Major players operating in the Copper Sulfate market include, Atotech, Allan Chemical Corporation, WEGO Chemical & Mineral Corp., and NOAH Technologies Corporation.

Major players operating in the copper sulfate market are centered on adopting various marketing strategies to improve their market share. For example, in 2020, Wego Chemical Group announced to provide at the American Coatings Show 2020. Similarly, in 2019, Atotech announced to provide at the 2019 International Electronics Circuit Exhibition in Shenzhen, China.


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