Copper Salts & Derivatives Market Size

Copper Salts & Derivatives Market size was valued at USD 2.13 Billion in 2023 and is expected to reach USD 4.96 Billion by the end of 2036, registering around 6.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of copper salts & derivatives is assessed at USD 2.26 Billion. The growth of the market can be attributed to the increasing use in the agriculture sector for the preparation of various insecticides, fungicides, and pesticides. The growing applications in the chemical industry across the world for manufacturing different chemical combinations are estimated to propel market growth. The growing number of copper ores with the increasing mining sector in the world is estimated to drive the growth of the market as per the market analysis. As of 2021, there are over 240 copper mines that are operated in around 40 countries across the world with production of more than 18 million tons in 2020. The increasing production capacity of chemical industries with rising demand from consumers is also anticipated to have a positive impact on market growth.

The increasing use of copper in synthetic fiber production to prevent wrinkles and non-invasive that are believed to reduce common health problems is expected to hike the market growth. The rising photography sector is also estimated to propel the market growth owing to the use of copper plates to bleach and add a yellow hue to the pictures which have dark areas. Around the world, more than 1.5 trillion photos are captured per annum as of 2023 and are projected to reach over 2 trillion by the end of 2030. The market growth is also estimated to expand owing to the increasing use in various end-user sectors including medical and laboratory sectors.