Copper Ammonium Carbonate Market: Overview
- Copper ammonium carbonate is an inorganic fungicide primarily utilized for wood treatment and in copper tolerant crops such as wheat, tomato, barley, sugarbeet, cherries, carrots, strawberries, almonds, apples, lettuce, and bananas. The fungicide is available in aqueous solution formulation in the market.
- Copper ammonium carbonate fungicide is utilized as a broad spectrum fungicide employed against eyespot, early leaf spots (Mycosphaerella arachidis), Fusarium spp., net blotches, phoma leaf spots, powdery mildew, Septoria nodorum, Rhynchosporium secalis, Sclerotium rolfsii, Sclerotinia sclerotiorum, Septoria tritici, and rust and tan spots. Copper ammonium carbonate fungicide is phytotoxic in nature and must be employed after dilution with water.
- Copper ammonium carbonate fungicide is applied through seed treatment or foliar application. It is a systemic fungicide that acts as a curative, preventive, as well as eradicative solution. After being absorbed, copper ammonium carbonate fungicide moves to the target fungal cells and interferes with sterol synthesis, leading to membrane disruption of the target pathogen. Copper ammonium carbonate fungicide is toxic to aquatic flora and has low bio-accumulation potential. Prolonged exposure may cause skin and eye irritation in humans.
Key Drivers and Restraints of Copper Ammonium Carbonate market
- Copper ammonium carbonate fungicide is primarily used as a broad spectrum fungicide for use on wheat barley, oats, oilseed rape, rye, and durum wheat. It is extensively used by Indian wheat farmers and other well irrigated crops. Copper ammonium carbonate is sold in combined formulation with several other fungicides such as fluoxastrobin, spiroxamine, tebuconazole, trifloxystrobin, bifaxen, and floupyram.
- The copper ammonium carbonate market is driven by rise in demand for food among the global population and decrease in arable land. Increase in food security concerns and limited arable land area are putting pressure on farmers to increase yield to meet the global demand.
- Growth in awareness about the harmful effects of fungicides and other toxic agrochemicals among the general population; and stringent environmental regulations, especially in developed countries of North America and Europe, are expected to hamper the global copper ammonium carbonate market. The opposition to use chemicals in agriculture has caused a shift toward organic farming and development of better and less harmful substitutes for these chemicals.
Global Copper Ammonium Carbonate Market: Segmentation
- The global copper ammonium carbonate market can be segmented based on type and application
- Based on type, the copper ammonium carbonate market can be classified into agricultural grade and industrial grade. The agriculture grade segment held major share of the global market in 2020.
- In terms of application, the copper ammonium carbonate market can be categorized into agriculture, industrial, and others. The agriculture segment held major share in 2020 due to extensive use of copper ammonium carbonate as a fungicide in the agricultural industry, especially in crops containing high copper content such as wheat, barley, durum wheat, and oats.
Global Copper Ammonium Carbonate Market: Regional Segmentation
- In terms of region, the global copper ammonium carbonate market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is one of the key regions of the global copper ammonium carbonate market. High demand for copper ammonium carbonate, especially in the well irrigated southern land in the Mississippi and Missouri areas of the U.S., is driving the market in the region.
- Asia Pacific is the largest consumer of copper ammonium carbonate fungicide due to its large population base. Major agricultural economies including China, India, and Indonesia are the major consumers of copper ammonium carbonate fungicide for application in a variety of crops. Two of the most populated countries, China and India, are situated in Asia. Both these countries are growing rapidly and witnessing rising disposable income and purchase power parity of the general population. This is expected to drive the demand for food grains, thereby driving the demand for copper ammonium carbonate fungicide. Major market players have established their production facilities in Asia owing to the availability of cheap labor and land; and comparatively lenient norms and regulations on chemicals.
- Brazil, South Africa, and Central Africa account for major share of the market in Middle East & Africa
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COVID-19 Impact on Global Copper Ammonium Carbonate Market
- The COVID-19 pandemic has adversely affected the global copper ammonium carbonate market. Restriction on the mobility of people across borders and lockdowns have led to labor shortages in the agricultural sectors in many countries. Disruption of the supply chain has increased the shortage for agricultural products such as seeds, fertilizer, and pesticides. Measures such as social distancing have impacted operations. However, recovery of demand in the agricultural sector across the globe after lockdowns is likely to boost the copper ammonium carbonate market in the near future.
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Key Players in Market
The global copper ammonium carbonate market has a moderately competitive landscape. It is dominated by the presence of various prominent players across the globe. Prominent players operating in the copper ammonium carbonate market include:
- Bayer CropScience
- Syngenta AG
- SinoHarvest Corporation
- Shanghai Mingdou Agrochemical Co. Ltd.
- Shanghai Tenglong Agrochemical Co. Ltd.
- Vishnupriya Chemicals Private Limited