NEWARK, Del, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global ground and precipitated calcium carbonate market is estimated to secure a CAGR of 5.4% during the forecast period. The market is predicted to secure a valuation of US$ 24.4 billion in 2023 and reach US$ 41.3 billion by 2033.
Key Takeaways:
- The global ground and precipitated calcium carbonate market is anticipated to register a CAGR of 5.4% with a valuation of US$ 41.3 billion by 2033.
- Based on product type, precipitated calcium carbonate is estimated to dominate the global market during the forecast period.
- The United States is estimated to secure a maximum global market share by 2033.
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Driving Factors in the Global Market
- Construction Industry Growth: Calcium carbonate is extensively used in the construction industry as a filler material in concrete, making it a vital component for infrastructure development. The construction sector's growth directly influences the demand for ground and precipitated calcium carbonate.
- Paper Industry Demand: Calcium carbonate is a key ingredient in the paper industry, where it is used as a coating and filler in paper products. As the demand for paper and packaging materials increases, so does the need for calcium carbonate.
- Increasing Water Treatment Applications: Calcium carbonate is widely used for softening and pH adjustment in water treatment processes. The growing population and industrialization have increased the demand for clean water, driving the need for calcium carbonate in water treatment.
- Growing Demand in the Paint and Coatings Industry: Calcium carbonate is used as an extender in the paint and coatings industry, enhancing properties like opacity, brightness, and resistance. The growing construction and automotive sectors contribute to the increasing demand for paints and coatings, thereby driving the demand for calcium carbonate.
- Agricultural Applications: Calcium carbonate is used in agriculture as a soil amendment to enhance soil pH and provide essential nutrients. The need for improved agricultural productivity is likely to boost the demand for calcium carbonate in this sector.
- Health and Personal Care Products: In the pharmaceutical and personal care industries, calcium carbonate is used in various products, including antacids, toothpaste, and dietary supplements. The rising health awareness and demand for personal care products contribute to the growth of this market segment.
- Renewable Energy Projects: As the focus on renewable energy sources increases, there is a growing demand for calcium carbonate in the manufacturing of solar panels and wind turbine blades, as well as in energy storage applications.
- Geographic and Infrastructure Expansion: The growth of emerging economies and increasing urbanization drive infrastructure development, leading to a higher demand for construction materials, including calcium carbonate.
- Technological Advancements: Ongoing research and technological advancements in ground and precipitated calcium carbonate production processes are likely to improve efficiency and reduce costs, further contributing to market growth.
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“The plastic industry uses calcium carbonate as a cost-effective filler material to produce various plastic products. With the ongoing expansion of the plastic manufacturing sector, the demand for calcium carbonate is also expected to rise.”—opines a seasoned analyst at Future Market Insights.
How do Key Players Upsurge the Global Market?
Key players play a vital role in the global market by investing huge amounts in research and development activities. These players drive the global market by innovating unique and improved products to capture consumers' attention. These players are adopting various marketing tactics to upsurge the global market, such as mergers, collaborations, agreements, and partnerships.
Recent Development in the Global Market are:
In 2020, Imerys announced it would supply ground calcium carbonate to manufacture gloves for medical uses and reduce production costs.
Competitive Landscape-Regional Trends:
The competitive landscape of the Ground and Precipitated Calcium Carbonate Market is evolving dynamically, marked by regional trends that influence market dynamics. Market players are strategically aligning themselves to cater to the unique demands of each region, capitalizing on local preferences and regulatory frameworks.
Restraints:
Despite the promising growth prospects, the market is not without its challenges. The Ground and Precipitated Calcium Carbonate Market faces constraints stemming from environmental concerns and the need for sustainable practices. Regulatory pressures related to emissions and waste disposal are prompting industry players to reevaluate their production processes.
Region-wise Insights - Category-wise Insights:
- North America: The North American market for ground and precipitated calcium carbonate is on a robust growth trajectory, driven by a surge in construction activities and the flourishing pharmaceutical sector. Fine ground calcium carbonate is in high demand for its application in pharmaceutical formulations.
- Europe: Europe exhibits a strong inclination towards eco-friendly packaging solutions. As a result, precipitated calcium carbonate, known for its sustainability attributes, is gaining traction. The construction industry in Europe is also a significant consumer of these materials.
- Asia-Pacific: The Asia-Pacific region is witnessing remarkable growth due to the burgeoning packaging industry and the expansion of the construction sector. China and India, in particular, are emerging as prominent markets for ground and precipitated calcium carbonate.
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Global Ground and Precipitated Calcium Carbonate Market Players
- Solvay S.A.
- Minerals Technologies Inc.
- Imerys
- Huber Engineered Materials
- SCHAEFER KALK GmbH & Co KG
- Longcliffe Quarries Ltd
Key Segments:
By Product Type:
- Ground calcium carbonate
- Precipitated calcium carbonate
By End Use Industry:
- Plastics
- Rubber
- Paper
- Adhesives & Sealants
- Paint & Coatings
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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