Cuprous Chloride Market: Global Industry Analysis and Forecast (2024-2030)

Cuprous Chloride Market size was valued at US$ 0.83 Bn. in 2023 and the total Cuprous Chloride revenue is expected to grow at 3.8% through 2024 to 2030, reaching nearly US$ 1.07 Bn.
Cuprous Chloride Market Overview:
It's typically made by reducing copper (II) chloride with copper metal. In dry air, the pure chemical is stable. It is converted to a greenish oxygenated molecule by moist air, and when exposed to light, it is turned into copper (II) chloride. It is water-insoluble but dissolves in intense hydrochloric acid or ammonia due to complicated ion production. Cuprous chloride is useful as a catalyst in many organic processes, including the production of acrylonitrile from acetylene and hydrogen cyanide; as a decolorizing and desulfurizing compound for petroleum fuels; as a nitric acid removal ingredient for cellulose; and as a condensation agent for detergents, fats, and oils.To know about the Research Methodology:- Request Free Sample Report

In this report, the Cuprous Chloride market's growth reasons, as well as the market's many segments (Form, Application, End-Use Industry, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Cuprous Chloride market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Cuprous Chloride market situation.
Cuprous Chloride Market Dynamics:
The cuprous chloride market is likely to be driven by the need for agricultural chemicals formulated with cuprous chloride to protect harvests from diseases that are caused by pests and pathogens e.g. bacterial leaf scorch. Furthermore, the growing population combined with shrinking farmland necessitates the use of herbicides and pesticides to protect agricultural products. Furthermore, rising government attempts to develop the chemical fertilizer sector are expected to boost demand for cuprous chloride.

The textile industry utilizes cuprous chloride on a large scale for coloring and printing materials. The fashion industry has witnessed tremendous growth and massive alterations. Every year, the fashion industry consumes more than 100 million tonnes of nonrenewable resources, e.g. oil to generate synthetic fibers fertilizers for cotton plantations, and chemicals to create, dye, and polish yarns and textiles.

Cuprous chloride's acute toxicity to humans and wildlife is a topic of concern for the cuprous chloride business. It is categorized as hazardous for acute eye strain and severe dermal allergy. Fungicides containing cuprous chloride have been observed to be less hazardous to insects, plankton, and worms, as well as to primates via oral ingestion, but are regarded more poisonous to aquatic animals and earthworms. Inhaling spray droplets or particles from these chemicals may also cause throat discomfort, choking, and allergies.
Cuprous Chloride Market Segment Analysis:
By Form, in 2023, the powder segment accounted for the largest share of the cuprous chloride market. Cuprous chloride is more commonly used in powder form than in any other physical form. The growing use of cuprous chloride particles in reaction with AlCl3, CO, and hydrochloric acid to make benzaldehydes for use in dyeing, fragrances, and flavoring agents is driving the market growth. Thus, the segment is likely to grow throughout the forecast period due to increased demand for cuprous chloride powder.

By End-Use Industry, in 2023, agriculture held the greatest proportion of the cuprous chloride market, and it is expected to grow at a CAGR of 3.8% between 2024 and 2030. cuprous chloride is used in a variety of agricultural applications, including copper nutrition, which is essential for all biological membranes and ordinary plant life, as antifungal agents for crop protection from, for land treatments, in feed ingredients containing copper to rectify copper-deficient soil conditions, to improve output, and many more. In recent years, significant agricultural expenditure has increased the demand for cuprous chloride.

Farming is flourishing in rising economies e.g. India, the USA, China, and others. For example, as per the IBEF, India received US$ 1.1 billion in agricultural technology financing between 2018 and 2023. In terms of agribusiness financing and the number of agricultural startups, India stood at third place. By 2030, Indian agribusiness firms are expected to get funding totaling US$ 30-40 billion. Thus, as the agricultural sector growth increases, the market for cuprous chloride grows more throughout the forecast period.
Cuprous Chloride Market Regional Insights:
Because of the prevalence of major genetically engineered plants, North America led the cuprous chloride market with nearly 35% share in 2023. Cuprous chloride is utilized for plant treatment reasons in the agricultural sector. As a result, cuprous chloride is commonly used in the development of crop plants in nations e.g. the United States, Canada, and Mexico. To combat fungal development, new and better cuprous chloride variations are introduced regularly. Moreover, the growth of numerous end-use sectors, including textile and clothing, agricultural, electronics and communication, and others, has boosted the growth of the local cuprous chloride market. Cuprous chloride is often used in purposes e.g. blue displays, photography, glassware, ceramics, dyeing, printed textiles, electroplating baths, and others.

As per the IBEF, the country aims to launch an output-linked incentives scheme to encourage the local industry of agricultural chemicals, with a US$ 30 million allocation to the department of chemicals. As a result of the need to safeguard agricultural produce, the requirement to limit farm yield destruction, and increasing government spending, the cuprous chloride market is expected to grow in India. Additionally, the textile industry, which includes colored and printed items, received US$ 3.65 billion in Foreign Direct Investment in 2023, as per the IBEF. Thus, growing demand for dyeing and printing fabrics in the fashion industry, as well as higher government expenditures, are expected to boost the growth of the cuprous chloride market.

The objective of the report is to present a comprehensive analysis of the Cuprous Chloride market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Cuprous Chloride market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the market the report investor’s guide.
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Cuprous Chloride Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 0.83 Bn.


Forecast Period 2024 to 2030 CAGR:
3.8%
Market Size in 2030:
US $ 1.07 Bn.


 Segments Covered:
by Form
Powder
Crystal
Granular
Others


by Application
Fungicides
Blue Displays
Photography
Glass, Ceramics
Dye
Printing Fabrics
Electroplating Baths
Others


by End-Use Industry
Building & Construction
Agriculture
Chemical & Petrochemicals
Textile & Apparel
Electrical and Electronics
Others



Cuprous Chloride Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Cuprous Chloride Market Key Players
1. Arkema
2. Hangzhou Chemfar Ltd
3. SAVA Global and Janssen Pharmaceuticals Inc
4. SAS Groups
5. Biota Agro Solutions Private Limited
6. Vimal Crop Care Pvt. Ltd.
7. Avantor
8. Wintersun Chemicals
9. Aldon
10. Sigma-Aldrich
11. Real Metal Chem
12. Parikh
13. Lubon Industry
14. Shanghai Ruizheng Chemical Technology
15. Jiangsu Heyiyuan Materials Technology

Frequently Asked Questions:

1. Which region has the largest share in Global Cuprous Chloride Market?
Ans: North America region held the highest share in 2023.

2. What is the growth rate of Global Cuprous Chloride Market?
Ans: The Global Cuprous Chloride Market is growing at a CAGR of 3.8% during forecasting period 2024-2030

3. What is scope of the Global Cuprous Chloride Market report?
Ans: Global Cuprous Chloride Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Cuprous Chloride Market?
Ans: The important key players in the Global Cuprous Chloride Market are – Arkema, Hangzhou Chemfar Ltd, SAVA Global and Janssen Pharmaceuticals Inc, SAS Groups, Biota Agro Solutions Private Limited, Vimal Crop Care Pvt. Ltd., Avantor, Wintersun Chemicals, Aldon, Sigma-Aldrich,

5. What is the study period of this Market?
Ans: The Global Cuprous Chloride Market is studied from 2023 to 2030