Global Copper Oxychloride Market: Snapshot
Copper oxychloride, scientifically named as dicopper chloride trihydroxide are used as fungicide on several crops such as cotton, cardamom, tea, coffee, orange, and rubber. Copper oxychloride forms a barrier on the plants protecting them from fungi and prevents fungi from entering the plant host. It is produced using copper in the oxidation of Nacl – Cucl solution. Copper oxychloride exists in various forms and can be prepared by several procedures. It is also used as a green or blue coloring agent in pyrotechnics and as a catalyst for various reactions such as production of vinyl chloride.
Farmers in developing countries are unaware of the various types of fungicides available in the market. Hence governments are taking initiatives to educate farmers about the use and benefits of fungicides such as copper oxychloride. Moreover, development of agriculture sector and technological advancements are contributing towards growth of the global copper oxychloride market. Copper oxychloride with low ph is used for tea, whereas higher ph values are used as fungicides to protect other types of crops. Initially used as a substitute for Bordeaux mixture, copper oxychloride is used for soil drenching applications too. Copper oxychloride is also used for manufacturing of Copper Hydroxide.
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Currently, North America leads the global market for copper oxychloride. However, in the coming years, Asia Pacific is expected to contribute a significant share to the global market. The increasing demand for food products and the demand for advanced farming applications are expected to drive the global market of copper oxychloride in the future.
Currently research is carried out on magnetic interactions and structural distortion in the layered copper oxychloride, microbial community’s response to copper oxychloride in acidic sandy loam soil, response of the microbial community to copper oxychloride in acidic sandy loam soil, and effect of fungicides on seed borne pathogens of groundnut, which are expected to discover new applications of copper oxychloride.
Global Copper Oxychloride Market: Overview
The global copper oxychloride market is growing at a significant pace, owing to the rising demand from the agriculture sector. Copper oxychloride is used widely as fungicide on several crops, including rubber, orange, coffee, tea, cardamom, and cotton. In addition, it is also used for a large number of fruits and vegetables. The increasing number of advancements and innovations in order to enhance the production using copper oxychloride is anticipated to supplement the growth of the overall market throughout the forecast period.
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Global Copper Oxychloride Market: Key Trends
The growing demand for yield-improving agrochemicals, owing to the rising food requirement is one of the major factors anticipated to augment the growth of the global copper oxychloride market in the next few years. In addition, the rising demand for an excellent quality of fungicides and good-quality fruits and vegetables is estimated to supplement the growth of the overall market in the coming years. On the flip side, the easy availability of substitute products is likely to restrict the growth of the overall market in the forecast period. Nonetheless, the favorable government initiatives are likely to offer promising growth opportunities for market players.
Global Copper Oxychloride Market: Market Potential
The lack of awareness among farmers regarding the availability different types of fungicides, especially in developing economies is anticipated to curtail the growth of the copper oxychloride market in the near future. However, the rising number of initiatives by government bodies and market players to create an awareness is predicted to boost the demand for copper oxychloride across the globe. Advancements in technology and the development of the agricultural sector to contribute towards the development of the market in the near future. In addition, the rising number of applications of copper oxychloride in several industries is estimated to encourage the growth of the overall market throughout the forecast period.
Global Copper Oxychloride Market: Regional Outlook
From a geographical point of view, the North America market for copper oxychloride is estimated to lead the global market and register a significant growth in the coming years. A substantial contribution from the U.S. is one of the key factors predicted to enhance the growth of the North America market in the next few years. Tremendously rising food demand is expected to result in the rising need to increase food production. This is projected to accelerate the growth of this region in the forecast period.
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On the other hand, Asia Pacific is likely to experience a strong growth in the coming years. The robust rate of industrialization, improving food habits, and the rising demand for fruits and vegetables are estimated to supplement the growth of the Asia Pacific copper oxychloride market in the forecast period.
Global Copper Oxychloride Market: Competitive Analysis
As per the research report, the global market for copper oxychloride is moderately consolidated in nature with three prominent players holding a massive share of the global market. In order to maintain their leading position, these players are entering into long-term agreements with several raw material manufacturers across the globe. Moreover, the rising focus on the expansion of the application base is estimated to benefit the key players operating in the global market in the next few years.
Some of the key players operating in the copper oxychloride market across the globe are Vimal Crop Care Pvt. Ltd., Biota Agro Solutions Private Limited, IQV, Killicks Pharma, Syngenta, Manica S.p.A., Albaugh, LLC., Greenriver Industry Co., Ltd., Isagro S.p.A., and Spiess-Urania. Detailed profiles of these players have been provided in the scope of the research report, along with the business strategies adopted by them.