COVID-19 Impact On Copper Fungicides Industry Segment, Size, Share, Development, Forecast To 2024

Market Highlights

The Global Copper Fungicides Market is estimated to be valued at USD 1,089.03 Million by 2024 and is expected to register a CAGR of 4.80% during the forecast period. Copper fungicides are pesticides that contain inorganic copper mineral and are used to prevent fungal diseases in crops. The use of copper fungicides in farming is highly regulated and restricted, with several countries across the globe following the standards set by the EU. Copper fungicides are allowed in organic farming within certain limits owing to concerns of copper build-up in the soil from prolonged use.

Global Copper Fungicides Industry Segment are widely used in both organic and conventional farming. They are usually applied in fixed form, which lowers the water solubility. However, copper can accumulate on plant tissue when there is a lack of rain and the fungicide is sprayed repeatedly to cover new growth. In such situations, post rainfall, large amounts of copper ions may be released, leading to phytotoxicity. The solubility of copper increases with acidic pH. If the water used for spraying is acidic, it increases the solubility of the copper fungicides, thus, releasing more copper ions and leading to phytotoxicity. It is, therefore, imperative to apply copper fungicides with caution so as to not adversely affect the crops.

Market Players

Market Research Future recognizes Mitsui & Co., Ltd. (Japan), ADAMA Agricultural Solutions Ltd (Israel), Nufarm (Australia), Jiangxi Heyi Chemicals Co., Ltd. (China), Industrias Químicas del Vallés SA (IQV) (Spain), Albaugh (US), UPL Limited (India), Bayer AG (Germany), Synthos AGRO Sp. z o.o. (Sweden), and Isagro (Italy) as the key players active in the global copper fungicides market.

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Segmental Analysis

The global copper fungicides market has been segmented based on type, application, and region.

By type, the market has been divided into inorganic copper fungicides and organic copper fungicides. The inorganic copper fungicides segment accounted for the larger market share in 2018. The advantages of inorganic copper fungicides include high efficacy and low price. Some of the inorganic copper fungicides are Bordeaux mixture, cuprous oxide, copper hydroxide, and copper oxychloride. However, the organic copper fungicides segment is expected to register the highest growth rate during the forecast period due to the advantages such as high efficacy, enhanced safety, and low toxicity.

Regional Analysis

Geographically, the global copper fungicides market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. As per MRFR analysis, Europe dominated the market, accounting for the largest share of 35.39% in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR of 5.37% during the assessment period.

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