India Copper Sulphate market is anticipated to grow at a steady CAGR of 5.96% by FY2030. Increasing the use of Copper Sulphate in the manufacturing of fertilizer, and rising demand from electroplating industry is anticipated to fuel the demand for Copper Sulphate in India.
Copper sulphate or cupric sulfate (CuSO4) is crystalline compound which is blue in color and water soluble. When heated, the water of crystallization is lost, leaving behind a white powder that, when dampened with water, returns to its original blue color. Several end-use sectors, including agriculture, metalwork, pipe cleaner, fungicide/algaecide, and water treatment, use copper sulphate extensively. Copper sulphate can be used as an electrolyte in the refinement of copper and is also utilized for electroplating metal sheets coupled with increasing use in batteries.
The growing use of Copper Sulphate in the agricultural sector, where it is majorly used to produce fungicides, herbicides, fertilizers, etc., is majorly driving the Copper Sulphate demand in India. Furthermore, in the electroplating industry, it is dominantly used in copper electroplating. Numerous other sectors include water treatment, fungicide, etc., Copper fungicide includes tribasic copper sulfate, cuprous oxide and copper carbonate which are anticipated to further elevate the demand for Copper Sulphate in India. Moreover, government initiatives such as promotion of small and medium scale industries coupled with several government and non-government awareness campaigns to educate farmers across the country is anticipated to further hike the demand for Copper Sulphate regionally. Furthermore, the use of copper sulphate as an anti-fouling paint, used to reduce the growth of algae, as well as floral weed and other floral bodies tends to push its demand in paints industries. In pharmaceutical industry it is used to produce copper catalysts. 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.
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.
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.
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.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2030
Objective of the Study:
- To assess the demand-supply scenario of Copper Sulphate which covers production, demand and supply of Copper Sulphate market in India.
- To analyse and forecast the market size of Copper Sulphate in India.
- To classify and forecast India Copper Sulphate market based on end-use and regional distribution.
- To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Copper Sulphate market in India.
To extract data for India Copper Sulphate market, primary research surveys were conducted with Copper Sulphate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Copper Sulphate market over the coming years.
ChemAnalyst calculated Copper Sulphate demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Copper Sulphate to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
- Copper Sulphate manufacturers and other stakeholders
- Organizations, forums and alliances related to Copper Sulphate distribution
- Government bodies such as regulating authorities and policy makers
- Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Copper Sulphate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, India Copper Sulphate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by End-use: Agrochemical, Electrorefining (Copper), Fertilizers, Pharmaceuticals, and Others
- Market, by Sales Channel: Direct Sale and Indirect Sale
- Market, by Region: Northern India, Southern India, Eastern India, Western India
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.