Copper Salts & Derivatives Market Forecast
According to research, the copper salts & derivatives market is projected to grow at a CAGR of 4% to 6% in the forecast period of 2021-2031. Demand for these products will be witnessed across all regional markets. Due to the application of these chemicals across significant end use areas such as metallurgy, textiles and petroleum, the market for these products is set to prosper during the upcoming decade.
What is Driving Demand for Copper Salts & Derivatives Market?
Copper salts and derivatives provide numerous industrial applications. This is a wide range of products and chemicals that cater to almost each and every industry in less or more amounts. Different copper compounds find different applications.
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Copper (II) oxide nano-particles have industrial applications as antimicrobial agents in textiles and paints, and as catalysts in organic synthesis. Copper chloride is used in petroleum, textiles, metallurgy, photography, agricultural products, and as a feed additive and wood preservative. It is also used in light sensitive paper manufacturing, pigments for glass and ceramics, and acrylonitrile manufacturing. Copper sulphate is used as a drying agent in anhydrous form, and as an additive for fertilizers and foods. It is also used as an animal nutritional supplement. Copper nitrate is used as a mordant and oxidizing agent in textile dyeing along with being used as a pigment for enamels. Because of its toxicity, it is also used as a fungicide and wood preservative.
Copper sulphite finds application in photo-catalysis, solar cells, and sensors and as a cathode material in lithium chargeable batteries. Furthermore, copper hydroxide is occasionally used as a ceramic colorant and is used to kill mold in paints. With an endless list of how crucial copper and its compounds are in day-to-day lives, the driving factors for the market of these chemicals are many. These factors will continue to contribute to the growth of copper salts and derivatives industry.
ASIA-PACIFIC Copper Salts & Derivatives Market Outlook
Asia Pacific region is anticipated to dominate the global copper salts market with the largest market share. This shall be owing to the expanding agricultural sector in many countries of this region, such as India.
Also, people are slowly adopting copper in their kitchenware and household items, realizing the beneficial properties of the same. These factors will in turn increase the sales of copper salts in the forecast period.
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NORTH AMERICA Copper Salts & Derivatives Market Outlook
The North American region is expected to be a key player in the global copper salts and derivatives market. This shall be due to its rapidly growing chemical industry. Companies are expanding are continuously expanding their production capacities and hence the dependency on copper salts and intermediates as raw materials in manufacturing processes. This will ensure that these chemicals stay in constant demand.
Who are the Key Manufacturers and Suppliers of Copper Salts & Derivatives Market?
Some of the key players operating in the global Copper Salts & Derivatives market are
- Nordfeed (Turkey)
- Brenntag (Germany)
- ReAgent Chemical Services (UK)
- Pan-Continental Chemical Co.
- Ltd (Taiwan)
- Old Bridge Chemicals (US)
- The Shepherd Chemical Company (US)
- TIB Chemicals AG (Germany)
- Noah Chemicals (US)
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