Calcium Carbonate Market is Poised to Surpass the Value of US$ 46.40 Billion by 2024 Owing to Rising Infrastructure Development Projects
Calcium carbonate is one of the most abundant natural minerals found in the earth's crust. It is widely used as a filler in the paper, plastic, rubber and paint industries owing to its high brightness andopacity. As a dietary supplement, calcium carbonate plays a crucial role in maintaining bone health and preventing disorders like osteoporosis. With rising investments in infrastructure development, the demand for construction chemicals and materials has witnessed substantial growth in the recent past. This in turn has provided a thrust to the calcium carbonate market.
The global calcium carbonate market is
estimated to be valued at US$ 46.40 billion in 2024 and is expected to exhibit
a CAGR of 6.2% over the forecast period of 2024 to 2031.
Rapid urbanization and industrialization in emerging economies has augmented the demand for building materials like cement, leading to an uptick in calcium carbonate consumption. Additionally, shifting consumer preferences towards packaged and processed foods have boosted the requirements for calcium carbonate as a food additive.
Key Takeaways
Key Players in the Calcium Carbonate
Market
Key players operating in The
Calcium Carbonate Market are ILC Resources, Imerys, J.M. Huber Corp.,
LafargeHolcim, Midwest Calcium Carbonates, Mineral Technologies, Mississippi
Lime, Mountain Materials, Inc., Omya, Parchem Fine & Specialty Chemicals,
The National Lime & Stone Company, United States Lime & Minerals, Inc.,
AGSCO Corp., Carmeuse, Blue Mountain Minerals, Carmeuse Lime & Stone
Company, GCCP Resources, GLC Minerals, LLC, Greer Limestone Company, and
Gulshan Polyols Ltd. These leading manufacturers are focusing on capacity
expansion and new product launches to strengthen their market position.
Key Opportunities in the Calcium
Carbonate Market
The increasing use of calcium carbonate as an extender and filler in paints,
rubber, plastics and paper is expected to open lucrative opportunities for
market players. Moreover, growing awareness about nutritional deficiencies and
bone health issues has augmented the consumption of calcium supplements,
driving the sales of calcium carbonate. Significant investments in construction
projects in Asia Pacific and Middle East are also projected to boost the market
in the coming years.
Global Expansion in the Calcium
Carbonate Market
Key calcium carbonate producers are focusing on expanding their global
footprint through acquisitions and partnerships. In 2021, Imerys acquired
S&B Industrial Minerals, strengthening its presence across Asia Pacific,
Europe and North America. Similarly, various companies have enhanced their
production capacities or set up new plants in fast developing markets like
China, India and Latin America to better serve local industries.
Market Drivers:
- Rising infrastructure development projects across the globe: Surging
construction activities on account of rapid urbanization, increasing
investments in road, rail and building projects is the prime driver augmenting
the global calcium carbonate market.
- Growing demand from paper industry: Calcium carbonate is extensively used as
a filler material and coating agent in the paper industry. The rising paper
production worldwide is fueling the market growth.
Market Restrains:
- Volatility in raw material prices: Fluctuating prices of key raw
materials required for calcium carbonate production including limestone is a
major challenge for market players.
- Stringent environmental regulations: Strict norms pertaining to mining and
processing of calcium carbonate in many countries may limit the market
expansion to some extent over the forecast period.
Segment
Analysis
The calcium carbonate market is dominated by the ground calcium carbonate sub
segment which accounts for over 60% of the total market share. Ground calcium
carbonate finds wide applications in paper, plastic, rubber and paints &
coatings industries owing to its fine particle size and high brightness. The
fillers used in these industries need to have very fine particle sizes less
than 10 microns for optimum properties and performance. Ground calcium
carbonate perfectly meets these requirements which has propelled its use over
other forms in these key end use industries.
Global Analysis
The Asia Pacific region dominates the global calcium carbonate market with a
share of over 40%, led by China. The region is home to a robust construction
and infrastructure development activities along with a booming plastic, paper
and packaging industries. All these end use industries are major consumers of
calcium carbonate. Additionally, the availability of raw materials and
favorable policies have attracted several calcium carbonate producers to set up
manufacturing base in the region. Europe follows next with a share of over 25% owing
to developed markets of Germany, UK, Italy and France which are leading markets
for paper, plastic and construction chemicals where calcium carbonate finds
high consumption. North America accounts for over 20% share of the global
market and witnessed steady growth on back of resurgence in oil & gas
industry and infrastructure development activities in the recent years.
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