Copper Salts & Derivatives Market Trends

Growth Drivers

• Increasing Demand in Textile Sector to Develop New Fabrics that are Used in Wound Dressing –

The rising number of textile industries owing to the increasing economic standards and rising fashion trends is estimated to drive market growth. The number of people participating in beauty pageants and the increasing disposable income of people are also anticipated to drive market growth. The infusion of copper fibers into the fabric is a growing trend which is also estimated to drive the market growth.

The worldwide textile sector was estimated to increase its demand by over 8 billion by the end of 2025.

• Rising Utilization of Copper Kitchenware to Prevent Carbon Foot Print and Improve Health – The number of copper kitchen articles and pot scourers exported from 2020 to 2021 around the globe increased from USD 110 million to USD 150 million with a rise of over 30% as per the estimations.

• Growing Paint Consumption across the World with Increasing Construction Sector – According to the reports, more than 860 million gallons of paint were used for architectural purposes in the United States as of 2021.

• Increasing Pharmaceutical Industries that use Copper in Various Medications – The earning of the pharmaceutical sector across the U.S. in the year 2021 was estimated to be more than USD 500 billion.

• Rising Electrical and Electronics Sector with High Use of Copper Wires – As per the data of India Brand Equity Foundation, the growth of the electronic manufacturing industry is projected to reach USD 300 billion by the end of 2025-2026 in India.

Challenges

• Availability of Alternative Products in the Market
• Rising Health Issues such as Skin Allergies, Liver, and Kidney Disorders –

Long-term exposure to copper and copper salts in the human body is estimated to cause some the health issues such as liver damage, abdominal pain, cramps, vomiting, nausea, and diarrhea which are the reason for hampering market growth in the coming years. These disorders are most in occupations such as copper ore extraction, and manufacturing of insecticides and fungicides that contain high amounts of copper.

• Corrosion of Copper Wires Owing to Oxidation