Transparency Market Research has published a new
report titled “Copper Oxychloride Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024.”
According to the report, the global copper oxychloride market was
valued at US$231.8 mn in 2015 and is anticipated to reach US$333.5 mn
in 2024, expanding at a CAGR of 4.2% between 2016 and 2024.
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Copper oxychloride, also known as tribasic copper
chloride (TBCC), is widely used in fungicide. It competes with
numerous copper compounds for different applications. Increasing
demand for copper oxychloride in the agriculture industry for usage
as fungicide is the major factor driving the global copper
oxychloride market. Fruits and vegetable crops are the major
consumers of fungicides. Various generic as well as specific
fungicides have been developed for applications in fruits and
vegetable crops. Copper oxychloride is employed in the manufacture of
commercial feed supplements. It is used in feed formulations for most
animal species. Additionally copper oxychloride is employed in the
manufacture of colorants and pigments for ceramics and glasses.
Market dynamics of copper oxychloride are highly
region oriented and exhibit distinctive trends in different regions.
In terms of region, Asia Pacific held the largest share of the global
copper oxychloride market in 2015. Currently, China dominates the
copper oxychloride market in Asia Pacific. In terms of volume, Asia
Pacific accounted for more than 30% share of the global copper
oxychloride market in 2015. Demand for copper oxychloride in the
region is expected to rise owing to the increasing usage of
fungicides for crop protection since the last few years. Countries
such as India, Bangladesh, and those in Southeast Asia have been
experiencing strong demand for fungicides since the last few years.
Europe held the second largest share, while North
America constituted the third largest share of the global copper
oxychloride market in 2015. The copper oxychloride market in Europe
and North America is likely to experience sluggish growth during the
forecast period owing to the slow economic growth in these regions.
This, in turn, is estimated to hamper the demand for copper
oxychloride in these regions. Availability of various substitutes for
different applications is likely to adversely affect the copper
oxychloride market in the region. The increasing usage of crop
protection chemicals in Latin America is projected to boost the
demand for copper oxychloride during the forecast period. The region
is anticipated to expand at a fastest CAGR during the forecast
period.
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Key players operating in the copper oxychloride
market include Albaugh, LLC, Biota Agro Solutions Private Limited,
IQV, Isagro S.p.A., Killicks Pharma, Manica S.p.A., SPIESS-URANIA,
Syngenta, and Vimal Crop Care Pvt. Ltd.
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