Cupric chloride is a greenish-blue crystalline solid or powder that is highly soluble in water. It is used as an etchant and oxidizing agent in various industries such as electronics, agriculture, and plating.
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:
Increasing demand for cupric chloride from the electronics industry is a key trend driving the growth of the cupric chloride market. Cupric chloride is widely used as an etchant for etching copper circuit boards in electronics manufacturing. With the growing electronics industry worldwide on account of increasing demand for consumer electronics, the demand for cupric chloride is also growing significantly. The copper substrates can be easily etched using cupric chloride solutions, which helps in fine circuit patterning. This has significantly increased its use in the electronics industry.
SWOT Analysis
Strength: Cupric chloride has strong germicidal and antibacterial properties. It is commonly used as disinfectant in metal cleaning and textile industries.
Weakness: Cupric chloride is highly toxic if swallowed or inhaled. Its high solubility in water can also harm the environment.
Opportunity: Increasing demand from chemical industries for production of pigments, fungicides and wood preservatives is driving the cupric chloride market growth. It also finds applications in industrial waste treatment.
Threats: Stringent regulations regarding the use and disposal of heavy metals pose challenges. Availability of substitute disinfectants can also threaten the cupric chloride market.
Key Takeaways
The global cupric chloride market growth is expected to witness high, exhibiting CAGR of 3.8% over the forecast period, due to increasing demand from chemical industries.
The chemical industry accounts for over 30% of the total cupric chloride demand globally. It is widely used in the production of pigments, fungicides, algaecides and wood preservatives. The growing chemical industry in developing nations of Asia Pacific is driving its consumption.
Regionally, Asia Pacific dominates the global cupric chloride market and the trend is expected to continue during the forecast period. Abundant availability of raw materials and growing industries in China, India and Japan are supporting the regional market growth. Countries like India are expected to be the fastest growing market.
Key players operating in the cupric chloride market are Ward Chemical, Inc., Johnson Matthey, NOAH Technologies Corporation, Yellow Sea Chemical, Hangzhou Jingyou Chemical and Univertical. These companies are focusing on capacity expansion strategies to meet the rising product demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
