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Copper Fungicides Market Size
Copper Fungicides Market size valued at USD 290 million in 2022 and is poised to depict more than 6.5% CAGR between 2023 and 2032. Growing concerns associated with food insecurity and the increasing pressure on agriculture sectors will create lucrative demand for copper fungicides.
Due to the rapid growth in the global population, the worldwide need for food has escalated dramatically. As per the Global Report on Food Crisis 2022 Mid-year Update, 205 million people are anticipated to suffer from acute food insecurity and will require urgent assistance across 45 countries. With the growing burden on agricultural production to serve an ever-increasing population and eliminate food insecurity, farmers and growers are seeking effective aids such as copper fungicides to prevent the outbreak of fungal diseases and loss of crops.
Global agencies are scaling up efforts to enhance agricultural output and secure the food supply chain, complementing industry growth. In April 2022, the World Bank earmarked USD 30 billion worth of investments over a period of 15 months to reduce risks, enhance food & nutrition security, and build robust food systems. Similar initiatives supporting producers and consumers worldwide will further encourage large-scale manufacturing of copper fungicides for use in agricultural and food production.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 290 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6.5% |
| 2032 Value Projection: | USD 560 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 350 |
| Tables, Charts & Figures: | 485 |
| Segments covered: | Chemistry, Formulation, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Access to alternative disease management may hamper product demand
The availability of several alternative disease management methods is expected to be a major roadblock in the copper fungicides market growth. Over the past few years, various cultural practices, biological controls, and genetic resistance techniques have been developed to prevent disease outbreaks among crops, competing with copper fungicides. However, ongoing breakthroughs in biofungicides and a growing emphasis on sustainability will improve the uptake of copper-based solutions.
Copper Fungicides Market Analysis
The copper fungicides market revenue from copper oxychloride is estimated to reach over USD 180 million by 2032. The growing demand for copper oxychloride across agriculture for bactericidal and fungicidal applications can be credited to the increasing awareness of eco-friendly crop protection methods, and the rapid adoption of sustainable farming practices. Copper oxychloride offers a myriad of benefits such as broad-spectrum protection against fungal outbreaks due to a lower risk of resistance development. It is also considered a suitable fungicide for various ornamental flowers, shrubs, fruits, and vegetables, which may contribute to product consumption.
Copper fungicides market valuation from fruits & vegetables applications is set to surpass USD 430 million by 2032. Copper fungicides have emerged as a promising disease control in fruit and vegetable farming as they have minimal impact on health and the environment. They are prominently used in form of sprays to control both bacterial and fungal diseases in plants. Spraying fruit trees and berries with copper fungicides helps reduce scabs, bacterial blights, leaf & cane spots, and mildew. The increasing demand for organic fruits & vegetables and the rising burden on growers will boost the demand for copper fungicides.
Copper Fungicides Market Share
Some of the leading companies in the global copper fungicides market include:
- Spiess-Urania Chemicals GmbH
- UPL Limited India
- Nufarm
- Albaugh LLC
- Certis USA L.L.C
- Isagro S.p.A
- Bayer AG
- Nordox AS
- Quimetal
- ADAMA
- Cosaco
- Corteva
- Cinkarna Celje dd
- Industrias Químicas del Vallés (IQV).
These companies are focusing on new product development and innovation to improve access to customers.
This copper fungicides market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2032 for the following segments:
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By Chemistry
- Copper Oxychloride
- Copper Hydroxide
- Cuprous Oxide
- Copper Sulphate
- Others
By Formulation
- Water-dispersible Granules (WG)
- Wettable Powder (WP)
- Soluble granules (SG)
- Others
By Application
- Fruits & Vegetables
- Cereals & Grains
- Oilseeds & Pulses
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Italy
- France
- Germany
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Philippines
- Malaysia
- Latin America
- Brazil
- Argentina
- Mexico
- Middle East & Africa
- GCC
- South Africa
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