Global Copper Oxychloride Market 2017-2021
About Copper Oxychloride
Copper oxychloride, also referred to as basic cupric chloride, has a chemical formula CuCl23Cu(OH)2b. It is naturally found in minerals and can also be synthetically produced. It naturally occurs in polymorphic crystal forms namely botallackite, paratacamite, clinoatacamite, and atacamite. Copper oxychloride finds application in colorants and pigments, fungicides, commercial feed supplements, and such other applications. Fungicides offer as a major application area for copper oxychloride owing to the indispensability of protecting plants and crops from damage. It is also used as a wood preservative when employed for flooring in concrete. Copper oxychloride can be referred to as dicopper chloride trihydroxy, copper(II) oxychloride, cupric oxide chloride, and vitigran bluecopper chloroxide,
Technavio’s analysts forecast the global copper oxychloride market to grow at a CAGR of 4.52% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global copper oxychloride market for 2017-2021. To calculate the market size, the report considers the sales market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Copper Oxychloride Market 2017-2021
Technavio recognizes the following companies as the key players in the global copper oxychloride market: Albaugh, IQV, Isagro, Killicks Pharma, and Manica.
Other Prominent Vendors in the market are: Biota Agro Solutions, Greenriver Industry, SPIESS-URANIA, and Vimal Crop Care.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in key market penetration strategies by prominent industry players. The global copper oxychloride market has witnessed prominent vendors in the market competing for a bigger market share, particularly in APAC. Among the various strategies used, some of the most common ones are mergers, joint ventures, acquisitions, and long-term licenses. For instance, Isagro signed a development, distribution, and supply agreement, and long-term license with Rotam Agrochemical Company in December 2014. The long-term license was to evaluate the exploitation associated with various combination products regarding copper oxychloride production in China, Taiwan, and Indonesia. Similarly, Albaugh claimed to have announced an agreement with Marrone Bio Innovations (MBI) to enhance the production of copper oxychloride.”
According to the report, one of the major drivers for this market is Competitive advantage of copper oxychloride over its substitutes. The global copper oxychloride market faces a threat of substitutes. Some popular substitutes are Bordeaux mixture, cupric hydroxide, copper arsenate, copper oleate, and copper sulfate. However, copper oxychloride has a competitive advantage over its substitutes in different applications, especially in fungicides. Copper oxychloride holds more than 90% of the market share in the fungicide segment. Therefore, the growth of the global fungicide market will augment the demand for copper oxychloride.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in the prices of copper restraining market growth. The production of copper oxychloride includes copper and hydrochloric acid. Though there are different methods to produce copper oxychloride, the finished cost of the product largely depends upon the price of copper. Fluctuations in the price of copper reflect on the prices of copper oxychloride production through the value chain over various stages. Further, the price of copper depends upon the ability of suppliers to extract the metal, followed by transporting it to the manufacturers of copper compounds. Some of the other factors that influence the price include interest rates, economic growth, and political considerations in different countries. The extent of availability of copper substitutes also has a bearing on the price. An increase in the price could also lead to increased use of metals such as aluminum, as a substitute for copper in refrigeration tuber, power cables, and electrical equipment.
Albaugh, IQV, Isagro, Killicks Pharma, Manica, Biota Agro Solutions, Greenriver Industry, SPIESS-URANIA, and Vimal Crop Care.