The report segments the global copper oxychloride market by application (fungicide, commercial feed supplement, and colorants and pigments) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global copper oxychloride market, according to Technavio chemicals and materials researchers:
- Competitive advantage of copper oxychloride over its substitutes: a major market driver
- In 2016, the fungicide segment dominated the market by occupying around 93% share
- APAC dominated the global copper oxychloride market with close to 38% share in 2016
- Albaugh, IQV, Isagro, Killicks Pharma, and Manica are the leading players in the market
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Competitive advantage of copper oxychloride over its substitutes: a major market driver
The competitive advantage of copper oxychloride over its substitutes is one of the major factors driving the global copper oxychloride market. 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. But, copper oxychloride has a competitive advantage over its substitutes in different applications, particularly 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 propel the demand for copper oxychloride. Some of the factors driving the demand for copper oxychloride in the commercial feed segment are the higher copper content and lesser storing and transport costs.
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APAC: largest copper oxychloride market
The robust demand for copper oxychloride along with the increasing demand for food has given the global copper oxychloride market a boost in the APAC region. Countries such as China and India are witnessing increasing demand for copper oxychloride to be used as a fungicide to assist crop protection. The development of rural India has a role to play in the increasing demand for copper oxychloride. There has been an increased use of fungicides (copper oxychloride) in the country, as India is an agriculture-based country.
According to Kurva Samba Sivudu, a lead analyst at Technavio for research on specialty chemicals, “Globally, India is the fourth-largest crop protection chemicals producer, including copper oxychloride, after the US, Japan, and China. Several developments in this region necessitate the use of copper oxychloride, predominantly as a fungicide and drive the market in the APAC region. Therefore, with strong drivers in place, the global copper oxychloride market is poised for a healthy and rapid growth.”
Competitive vendor landscape
The global copper oxychloride market is competitive in nature with key market players contending against each other to claim a sizable portion of the market. Some of the key vendors operating in the global copper oxychloride market are Albaugh, IQV, Isagro, Killicks Pharma, and Manica. The key vendors are trying to expand geographically, particularly in developing regions such as the APAC. Some of the strategies used by the vendors are acquisitions, mergers, joint ventures, 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.
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