Pyrithione is an organic chemical that is used in various forms as an industrial biocide. It is known for its fungicidal and bactericidal properties. It has been predominant to be employed as an antifouling agent in marine ship for several decades. Several metal compounds of pyrithione are used as biocide, of which two commonly used are zinc pyrithione and copper pyrithione. Copper pyrithione is relatively more toxic and hence, is largely used in industrial applications.
It is widely used in marine paints to prevent accumulation of marine flora and fauna on ship hulls. The growing demand for coating application in marine equipment is expected major growth driver for global copper pyrithione market. The properties of cooper pyrithione such as prevents from corrosion and rust and keeps equipment’s operational for a longer time, are responsible for demand in marine industry. Also, the cost-effective nature of copper pyrithione is one more growth driver. On the other hand, copper pyrithione is more toxic as compared to others, which is expected to restraint the growth of global copper pyrithione market during the forecast period.
Covid-19 Impact Analysis
- The coronavirus's unfavorable global effects are already evident, and they will have a big impact on the copper pyrithione in 2020.
- The World Health Organization has declared a public health emergency after the COVID-19 virus outbreak in December 2019. The disease has spread to over 100 nations and resulted in massive deaths across the world. Exports & Imports, global manufacturing, tourism, and financial sectors have all been heavily damaged.
- The downward pressure on the global economy, which had previously shown signs of improvement, has escalated once more. The outbreak of the virus has added danger factors to the international economy's already sluggish development. Many international groups have stated that the global economy is experiencing its most difficult moment since the financial crisis.
- Since the pandemic, the restriction of imports and exports has affected the copper pyrithione market to a great extent as the consumers’ consumption and demand patterns are changing amidst pandemic.
Top Impacting Factors
The rising demand for copper pyrithione as an antifungal agent in the various industries is expected to create new opportunities for the global copper pyrithione market. The global copper pyrithione market is projected to experience a major push in the upcoming years. The growth of the market is attributed to growth in demand for high resistant coatings of the marine equipment. Moreover, the global copper pyrithione market shall also witness a substantial growth due to their application in coating of electrical wire to keep them safe from short circuit and wreaking havoc in the nearby location. As a result of these demands, the global copper pyrithione market is expected to grow exponentially.
- Demand for better coating materials will have a positive impact on the market.
- Marine equipment are always at a risk of corrosion and rust. To operate smoothly, these equipment require effective coating. To address this issue, the owners of the equipment are using copper pyrithione to keep the instrument operational for a longer duration of time. Owing to this growing demand for the equipment protection coating in the marine business, the global copper pyrithione market shall witness a substantial growth. Moreover, the cost-effective nature of the copper pyrithione is also a major contributor towards the growth of global copper pyrithione market during the estimated time frame.
- Antifungal action of copper pyrithione to boost the market.
- Copper pyrithione is considered as one of the best antifungal agents in the various industries. This agent can stop almost any microorganism to grow and affect the function of marine equipment. Additionally, copper pyrithione has minimal impact of the environment making it the best antifungal agent in the marine industry. Owing to these benefits the global copper pyrithione market shall witness a substantial growth
- Increasing industrialization and setting up of new plants in North America will bolster the market growth.
- North America is expected to witness a substantial growth in the global copper pyrithione market due to extensive application of the copper pyrithione by oil and gas sector in U.S. and Canada. This growth is further amplified by rising industrialization and demand for maintaining the equipment for a longer duration in the U.S.
Key Benefits of the Report
- This study presents the analytical depiction of the copper pyrithione industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the copper pyrithione market share.
- The current market is quantitatively analyzed to highlight the copper pyrithione market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed copper pyrithione market analysis based on competitive intensity and how the competition will take shape in coming years.
Copper Pyrithione Market Report Highlights
Key Market Players
Hangzhou Jingyou Chemical, Xiangshan Zhihua New Materials, Wuxi Zhufeng Fine Chemical Co. Ltd., Nantong Acetic Acid Chemical Co., Shanghai Huilong Chemical, Shandong Ailitong New Materials, SINONINE Industry Co., Hangzhou Shangyou Chemistry, Zhejiang Regen Chemical, Kumar Organics Limited
Other Key Market Players
Kumar Organics Limited