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Copper Oxychloride Market Size to showcase significant growth in the coming years

Author : Ronak Bora | Published Date : 2019-06-11 

Increasing population along with lessening arable land will boost copper oxychloride market size over the forecast timeframe. In 2010, the global population was approximately over 6.89 billion and reached up to 7 billion in 2015 with over 4.9% growth. On the other hand, total arable land witnessed growth only up to 3.4%, which increases high yielding crops demand with the help of agrochemicals including fungicide. In 2015, fungicide was the dominant application of copper oxychloride market. These are highly effective on tomatoes, potatoes, carnations, stone fruit, grapes, citrus, celery, coffee and avocados owing to boost industry growth.

Improved consumer eating habits has driven fruits & vegetables industry significantly as they carry all vital nutrients including minerals, vitamins and roughage. In 2015, fruits & vegetables production was over 2 billion tons and might reach 2.35 billion tons by 2024. In addition, approximately 30% of total fungicide produced are utilized by fruits & vegetables, which consequently will boost copper oxychloride market share.

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Numerous alternate crop protection products available in the industry may force product substitute threat, which may hinder copper oxychloride market size by 2024. For instance, Kocide Blue Xtra from DuPont has gained more attraction as it contains bioavailable copper. In addition, excessive product usage has resulted in settling of copper in the soil layer and pushes adverse environmental consequences such as soil infertility.

Apart from the agriculture usage, the product is also applicable for commercial feed supplements and colorant & pigments. It is used in manuscripts, illuminations, and wall paintings. As per statistics, copper oxychloride industry from colorants and pigment applications collected a revenue of USD 5 million in 2015 and will record considerable growth rate over the coming timeframe, owing to the surging demand of the product across the glass and ceramics manufacturing sector.

Rapid industrialization across the globe is one of the most notable factors fueling copper oxychloride market. Subject to the decreasing arable land and the surging need to improve land productivity, Asia Pacific copper oxychloride market will exhibit an annual growth rate of more than 4% over the coming seven years, having collected a revenue of USD 55 million in 2015. The growth can also be attributed to the rising demand for vegetables and fruits pertaining to escalating population along with rapidly changing eating habits of consumers. India and China will contribute significantly toward the APAC copper oxychloride market size.

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Copper oxychloride is also extensively used in feed supplements to increase nutrition level. Feed supplement application segment of copper oxychloride market will generate a revenue of USD 8 million by 2024. The growth can be attributed to growing use of the product in the different feed formulations for dairy cattle, horses, turkeys, pets, pigs, and chickens.

The key participants in copper oxychloride market are Albaugh, Isagro, Biota Agro Solutions, Spiess-Urania, IQV, Syngenta, Killicks Pharma, Manica S.p.A, Vimal Crop Care, and Greenriver.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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