According to ChemAnalyst report, “India Copper Sulphate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030”, The India Copper Sulphate Market is likely to grow at a CAGR of 5.96% during the forecasted period by FY2030. The end-use industries Agrochemical, Electrorefining (Copper), Fertilizers, and Pharmaceuticals are anticipated to accelerate the Copper Sulphate Market in India in the forthcoming years.
Copper sulphate or cupric sulfate (CuSO4) is crystalline compound which is blue in color and water soluble. Copper sulphate is a remarkably versatile chemical with a wide range of industrial and agricultural uses. In agriculture and the wood industry, it is typically employed as an insecticide. Large amounts of copper sulphate are used by the metals industry as an electrolyte in the copper refining process, to copper coat steel wire before wire drawing, and in different copper plating procedures. The mining sector has found use as an activator in the concentration of lead, zinc, cobalt, and gold ores by froth flotation. The most popular algaecide by far is copper sulphate. To avoid hydrolysis and copper precipitation, other copper-containing algaecides used in household applications like swimming pools are typically chelated.
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The growing use of Copper Sulphate in the agricultural sector, where it is majorly used for the production of fungicides, herbicides, fertilizers, etc., is majorly driving the Copper Sulphate demand in India. Furthermore, in the healthcare sector, it is dominantly used in the manufacturing of sterilizers and disinfectants. Numerous other sectors include adhesives, textiles industries, etc., employ copper sulphate manufacture products like insecticides, wood preservatives and paints which are anticipated to further elevate the demand for Copper Sulphate in India. Moreover, government initiatives such promotion of small and medium scale fertilizer processing industries coupled with several government and non-government awareness campaigns will most likely educate farmers across the country and anticipated to further hike the demand for Copper Sulphate regionally. Moreover, increasing demand for Copper Sulphate in the country for its applications in sterilizers, fungicides and fertilizers are expected to drive India Copper Sulphate market during the forecast years.
The India Copper Sulphate Market is segmented based on end-use, sales channel, and region. Based on end-use, India Copper Sulphate Market is divided into Agrochemical, Electrorefining (Copper), Fertilizers, Pharmaceuticals, and Others. Among these, the Fertilizers Industry is the leading segment and held a market share 28% in FY2022. As a fungicide, copper sulphate pentahydrate is employed. Certain fungi can, however, adjust to heightened copper ion concentrations. When combined with lime or ammonium carbonate, copper sulphate can also be used as a fungicide.
Based on region, India Copper Sulphate Market is segregated into North, South, East, and West. As of FY2022, West India has been dominating the market, followed by North and South India. In FY2022, West India consumed approximately 35% of the market. Owing to the allocation of numerous fertilizer manufacturers allocated in western states like Gujarat and Maharashtra, West India is likely to remain as the dominant participant in the market.
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“India Copper Sulphate Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030” Major player operating in India Copper Sulphate market include Hindustan Copper Ltd. Furthermore, global players manufacturing Copper Sulphate include Beneut Enterprise, Highnic Group, JX Nippon Mining & Metals Corporation, Sumitomo Metal Mining Co., Ltd., Changsha Haolin Chemicals Co. Ltd, Ravensdown Limited, Nyrstar Clarksville Inc and Others.
“Due to its numerous uses in herbicides and pesticides, food additives, medicines, and other fields, Copper Sulphate is in high demand across the nation. Growing pest management practises and usage of fertilizers are favouring the Copper Sulphate’s potential for growth and propelling the Copper Sulphate market. Additionally, it is predicted that throughout the projection period, the market would be further influenced by growing demand for Copper Sulphate in the Electrorefining (Copper) industry. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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