Global copper ammonium carbonate market is anticipated to witness strong growth on account of its extensive use as an inorganic fungicide for various copper tolerant crops such as tomato, barley, wheat, almonds, apples and lettuce. In addition, copper ammonium carbonate is also used for wood treatment in wood industry.
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Copper ammonium carbonate is available in market as aqueous solution formulation. Growing global population coupled with increasing food demand are further expected to fuel market demand for this fungicide Copper ammonium carbonate has vast market opportunity on account of properties such as eradicative, preventive and curative solution, making it ideally suited for use as fungicide in wheat barley , rye and oats crops.
Furthermore, the compound is used in combination with various other fungicides such as bifaxen, spiroxamine and trifloxystrobin thereby triggering its market demand. However, copper ammonium carbonate is toxic owing to presence of arsenic in the compound which is a key constraint in its market growth. In addition, increasing awareness about harmful effects of fungicides and stringent environmental regulations are expected to hamper the copper ammonium carbonate market growth in the coming seven years.
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Major players dominating the copper ammonium carbonate market include Monsanto, Sino Harvest Corporation, Shanghai Mingdou Agrochemical Ltd Bayer CropScience, Shangahi Tenglong Agrochemical Co. Ltd. and Syngenta AG. Asia Pacific dominated the market for copper ammonium carbonate in 2014 on account of growing demand for food crops in India and China coupled with large population base. Bayer CropScience a global enterprise in agriculture materials has entered into a strategic partnership with Flagship Ventures innovate and develop technologies in agriculture.
Rising pest pressures, coupled with weather volatility have led to increased innovative solutions in fungicide compounds. The company also invests in research and development which is further expected to develop market for copper ammonium carbonate compounds. Furthermore, Monsanto and Syngenta, two giant companies in this market also plan to accelerate technological innovation through precision agriculture and advanced R&D capabilities. Syngenta’s strong global presence and expertise in crop protection and seed care further gives it an advantage to face different challenges and local downstream needs in copper ammonium carbonate market over the forecast period.
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