April 20, 2024
Calcium Carbonate market

Calcium Carbonate Market is Estimated to Witness High Growth Owing to Expanding Applications in Wide Range of Industries

The global calcium carbonate market is a promising market with widespread applications in various end-use industries such as paper, plastics, paints & coatings, adhesives & sealants, and construction among others. Calcium carbonate finds its use as a filler material, coating agent, and binding agent in these industries owing to its high brightness and excellent opacity properties. The ever-growing demand from the paints & coatings industry primarily contributes to market growth on account of extensive usage of calcium carbonate in interiors and exteriors of buildings for better durability and aesthetic appeal.

The global calcium carbonate market is estimated to be valued at US$ 46.40 BN in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031.

Key Takeaways

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.

The key opportunities in the global calcium carbonate market include growing applications of calcium carbonate in the rapidly expanding construction industry and emergence of novel technologies enabling production of high purity grade calcium carbonate.

Some of the latest technological advancements in the calcium carbonate market include development of precipitation process that produces fine particles of high-purity grades of calcium carbonate and usage of advanced mining techniques for extraction of high-quality natural calcium carbonate from mines.

Market Drivers

The major driver boosting the calcium carbonate market growth is extensive usage of calcium carbonate as a filler material in the production of paper. It enhances the paper quality by improving optical properties, print quality, opacity and brightness. Furthermore, growing construction activities in developing nations due to rapid urbanization has also augmented the market growth as calcium carbonate is widely used in cement, mortar and concrete. Rising expendable income has bolstered the paints & coatings and plastics industry, further catalyzing the product demand.

Challenges in Calcium Carbonate Market

The calcium carbonate market faces several challenges. Stringent regulations worldwide regarding mining activities have adversely impacted the supply of raw materials. This is a key challenge being faced by calcium carbonate producers. Additionally, fluctuations in the prices of raw materials often affect the overall production cost of calcium carbonate. Changing consumer preferences also pose a challenge as manufacturers need to continuously innovated and develop new grades of calcium carbonate to cater to the evolving needs of end-use industries.

SWOT ANALYSIS

Strength: Wide applications in various end-use industries like paper, plastic, paint & coating sector.

Weakness: Stringent mining regulations and fluctuations in raw material prices.

Opportunity: Growing construction sector in emerging economies.

Threats: Threat from substitutes like kaolin and availability of low-cost alternatives.

Geographical Regions

In terms of value, the calcium carbonate market is highly concentrated in Asia Pacific and North America. Countries such as China, India, the U.S., Germany, and Canada account for a major share of the global demand for calcium carbonate. Asia Pacific alone constitutes over 40% of the worldwide calcium carbonate consumption due to robust growth in key end-use industries in the region.

The Middle East and Africa is projected to be the fastest growing regional market for calcium carbonate during the forecast period. This can be largely attributed to ongoing infrastructure development projects and increasing construction activities in the regions. Countries like Saudi Arabia, UAE, South Africa, and Qatar are expected to fuel the demand for calcium carbonate in the coming years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it