Copper Carbonate Market to be Driven at a CAGR of 4.5% in the Forecast Period
The new report by Expert Market Research titled, ‘Global Copper Carbonate Market Size Report and Forecast 2022-2027’, gives an in-depth analysis of the global copper carbonate market, assessing the market based on its segments like types and application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 4.5%
The growth of the global market for copper carbonate is driven by its widespread application across various end use industries. The rising demand for copper carbonate from as a coloring pigment from paints industry, and as an automotive paint pigment precursor is anticipated to bolster the market growth. Moreover, copper carbonate finds extensive application in foundry industry as process chemical for producing copper metal alloys. The market for copper carbonate is further propelled by its application in producing copper chromite catalysts. Copper chromite is in hydrogenolysis of methyl esters such for producing fatty alcohols. This is anticipated to aid the market growth. Additionally, the increasing initiative for sustainable production of copper carbonate amidst rising environmental awareness is projected to positively impact the industry growth over the forecast period.
Industry Definition and Major Segments
Copper Carbonate is an inorganic salt obtained by the reaction of sodium carbonate and aqueous solutions of copper (II) sulphate at room temperature and pressure. The salt is insoluble in water and finds application in fertilizers and as colorants, among others.
The major types of copper carbonate are:
The market can be broadly categorized on the basis of its applications into:
• Process Chemicals
• Chemical Catalysts
• Food and Feed Additives
• Pigment Precursors
• Agriculture Chemicals
The regional markets for copper carbonate include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Regionally, the Asia Pacific is expected to hold a significant share in the global copper carbonate market. The rapid industrialization and urbanization in the region are expected to propel the demand from industries such as automotive, and construction, among others. The regional market for copper carbonate is further bolstered by the presence of vast agricultural sector in countries such as China and India. The growing population in the region is driving the agricultural sector, thus escalating the demand for various agrochemical for improving the yield, and quality of the crops. Moreover, the application of copper carbonate in pharmaceutical industry for its anti-inflammatory properties is expected to aid the market growth over the forecast period.
Key Market Players
The major players in the market are Eastmen Chemicals, Jost Chemical Co., William Blythe Ltd, Old Bridge Chemicals, Inc., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.