Copper Nitrate Market Price Trend, Competitive Market Share & Forecast, 2016 – 2024

Copper Nitrate Market Size Share, Competitive Market
Share & Forecast, 2016 – 2024: Global Market Insights,
Inc.
Copper Nitrate Market size will witness favorable growth during forecast period due
to extensive use of copper oxide in chemicals industry as well as textiles and ceramics
industry. Copper nitrate is an inorganic compound which forms blue crystalline solids
mainly used to convert into copper oxide.
Global chemicals industry witnessed more than 5 billion dollar sales each year from
2013 to 2015 and this trend is expected to continue and drive the copper nitrate
market during the forecast period. Owing to the increasing demand for high quality
apparels and clothes and increasing purchasing power of consumers in developing
countries, the textiles market is growing at a fast pace and recorded exports of more
than 280 billion USD in 2015. At the same time apparels industry, recorded exports of
more than 400 billion USD. This growth will also augment the copper nitrate market
during the forecast timespan.
The product is a strong oxidizing agent and hence it may increase intensity of fire when
kept in proximity to other combustible material. It also causes irritation when in
contact with eyes, skin or inhaled. This makes handling and storing of the product
difficult and unsafe. These factors can hinder the copper nitrate market causing
industries to find other safer alternatives.
By product the copper nitrate market is segmented mainly into two viz. hydrous and
anhydrous form. Hydrous copper nitrate occurs in five forms viz. hexahydrate,
trihydrate, hemi pentahydrate, sesquihydrate and monohydrate of which hexahydrate
and trihydrate are the most common forms. By the level of purity, it is classified into
four categories - (2N) 99%, (3N) 99.9%, (4N) 99.99% and (5N) 99.999%.
Its primary application is in the preparation of copper oxide which is used as a catalyst
in the synthesis of many organic compounds. Copper oxide is also used as a pigment
in ceramics to produce various colors. The product can also be used in synthesizing
nitric acid when decomposed by heating and passing the fumes directly into water.
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Combining the product with acetic anhydride gives an active reagent that is used in
nitration of aromatic compounds.
It is also used as a dye and in fireworks displays. It is used to polish metals and as a
wood preservative. The product is also used to show voltaic cell reactions in
laboratories. It is also used as an insecticide and a fungicide. Hydrous copper nitrate is
used in electroplating copper on iron.
To browse this report titled, “Copper Nitrate Market Size by Product, By Application,
Industry Analysis Report, Regional Outlook, Application Potential, Price Trend,
Competitive Market Share & Forecast, 2016 – 2024” please click on the link below:
https://www.gminsights.com/industry-analysis/copper-nitrate-market
The copper nitrate market is likely to grow during the forecast period because it is used
in many different industries. The end users of copper nitrate market are chemical
industries, textile industries which uses it as a dye and in printing industry as a
pigment. It is also used as a pigment in ceramics industry. Global ceramics market
share was more than 150 billion USD in 2015 and is expected to grow by more than 6
% CAGR during forecast period which will also drive the copper nitrate market.
It is used in fireworks industry and in laboratories. It is used in agrochemicals industry
as an insecticide and in wood pulp industry as a fungicide to preserve wood. It is also
used as a component in rocket fuel and with the space exploration industry flourishing
in many regions including Asia and America, it has a high potential of growth in this
sector. Metal works industry also employs the product as a polishing agent.
Copper nitrate market in the world is segmented into five main regions – North
America, Europe, Asia pacific, Middle east and Africa and Latin America. Among these
Asia pacific region is the largest copper nitrate market. It is due to the vast uses of its
successor copper oxide in this region to produce chemicals and textiles. China and
India are the leading copper nitrate markets in this region in terms of production and
consumption.
This trend is supposed to continue during the forecast period because of the high
number of manufacturers in both these countries. Europe is the second leading copper
nitrate market followed by North America.
Major companies in the copper nitrate market are – International Biological
Laboratories, American Elements, Alpha Chemika, Chemical Point UG, Combined
Chemicals, Sigma-Aldrich, MINS group, Beijing Science and Technology, ALS
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Environmental, Evans Chem India, Zibo Hangzheng chemical trading, Wuhan
Pharmchem company, Shanghai Hanhong Scientific.
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