Cupric chloride is used in printed circuit board manufacturing processes, as well as formulation of disinfectants, fungicides and preservatives. It possesses various advantageous properties including fungicidal, bactericidal and algaecidal properties. The rising end use industries are generating significant demand for cupric chloride.
The global Cupric Chloride Market is estimated to be valued at US$ 1,036.24 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the key trends driving the growth of cupric chloride market is its increasing use in formulation of wood preservatives. Cupric chloride acts as an effective biocide against various wood destroying fungi and preservative treated wood finds applications across construction and furniture industries. There has been a rise in construction activities globally which has boosted the demand for wood preservatives containing cupric chloride. Also, growing awareness about fungal/bacterial resistance has led to preference for highly effective biocides like cupric chloride which offers long lasting protection to wood. This increasing uptake is supporting the revenue growth of cupric chloride market.
Segment Analysis
The global cupric chloride market is dominated by the industrial grade segment. Industrial grade cupric chloride finds wide applications as a catalyst and in the production of pigments, wood preservatives, and algicides. It is predominantly used in waste treatment, chemical synthesis, and water treatment. The industrial segment accounts for over 60% of the overall market share owing to the large-scale consumption of cupric chloride in various end-use industries.
Key Takeaways
Market size: The global cupric chloride market analysis is expected to witness high growth, exhibiting a CAGR of 3.8% over the forecast period 2023 to 2030, due to increasing demand from end-use industries like chemicals, waste treatment, pharmaceuticals, and agrochemicals.
Regional analysis: Asia Pacific dominates the global cupric chloride market and is expected to continue its dominance over the forecast period. This can be attributed to the presence of large production facilities and increasing consumption from countries like China, India, and Japan.
Key players: Key players operating in the cupric chloride market are Ward Chemical, Inc., Hawthorn Materials Ltd., McGean-Rohco Inc., Acechem Scientific Co., Ltd, Apollo Scientific Ltd., Sigma-Aldrich Co. LLC., Tokyo Chemical Industry Co. Ltd., and Vanton Reagents. Ward Chemical, Inc. is a leading player in the market with a wide product portfolio and global presence.
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