Pune, March 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global carbonate minerals market is expected to grow from USD 41.39 Billion in 2020 to USD 82.15 Billion by 2028 at a CAGR of 8.28% during the forecast period 2021-2028.
The Flourishing construction industry across the globe andlarge-scale consumption of paper in the fast-moving consumer goods (FMCG) sectorare the factors that is driving carbonate minerals market.
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The most common carbonate minerals are calcite, aragonite, magnesite, dolomite, and barium carbonate. Carbonate minerals are found naturally in the earth’s crust. Carbonate minerals are broadly used in numerous industrial applications such as light bulbs, glasses, mugs, ceramic tiles, plates, paints, wooden flooring, wide plastic goods, salt, sugar, detergents and heating elements. The construction industry is the primary consumer for carbonate minerals like calcite as limestone and marble. The rough and polished limestone and marble are still holding great importance and is used in prestige architecture. Concrete is used to make buildings, bridges, highways, walls, and many other structures. Calcite is also used as an acid neutralizer in the chemical industry. After mixed with sugar and flavouring, calcium carbonate is made into chewable tablets used in the neutralization of stomach acids. It is also an ingredient in many medications which are used to treat digestive and other ailments.
The increasing number of government regulations are hampering the market growth. Though carbonate minerals have specific characteristics and have applications in various industries, however stringent regulations on CO2 emissions caused by carbonate minerals are acting as a restraint for the market. This stringent regulations is there because the carbonate minerals are widely used in many industries like in the cement and construction industry, which led to the emission of CO2.
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Key players operating in the market include Mineral Technologies, IMERYS Carbonates, Magnesita Refractories, Maruo Calcium, Carmeuse, Calcinor, Huber Engineered Materials, Lhoist North America, Mississippi Lime Company, and Great Lakes Calcium Corporation among others.
• Developing and developed countries are providing greater opportunities and major players are continuously concentrated on new developments, strategic partnerships, acquisitions and merger to obtain high growth in the market. For instance, in February 2018, Imerys acquired the consolidated calcium carbonates business of Vimal Microns and Vee Microns. The acquisition helped the organization in expanding the carbonates business in the Asia Pacific region and reinforces IMERYS’s leadership position as a global minerals company with leadership positions in its core segments, delivering substantial value to customers and employees.
• In July 2019, Mississippi Lime Company, a leading global supplier of high-calcium lime products, had announced to acquire the Calera, Alabama lime business of Covia, operating historically as Southern Lime. This acquisition advances the organization mission to provide world-class lime products and solutions through differentiated quality, technical expertise, and customer service. This also helps the organization in growing customer and end-market base.
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The calcite segment held the highest market value of USD 16.48 Billion in 2020
The minerals segment is divided into calcite, magnesite, aragonite, smithsonite and dolomite. The calcite segment held the highest market value of USD 16.48 Billion in 2020. This is due to its properties to improves the finishing characteristics of paper, including whiteness and gloss. Both calcite and smithsonite will continue to influence market revenues, but the calcite will grow twice of smithsonite in terms of value.
The natural segment is accounted for the highest market value of USD 33.3 Billion in 2020
The Source segment includes natural and synthetic. The natural segment accounts for USD 33.3 Billion in 2020. Natural carbonate minerals are used primarily in almost every segment of the market. However, the demand for synthetic carbonate minerals is going to increase in the forecasting period owing to the large scale consumption of paper in the FMCG sector.
Paper & pulp industry segment held the market value of USD 10.42 Billion in 2020
The end user segment includes food, paint, plastic & rubber, paper & pulp, building & construction, agriculture and glass. The paper & pulp industry will remain the key consumer of carbonate minerals, where they are used as fillers or coatings on paper. Paper & pulp industry segment held the market value of USD 10.42 Billion in 2020. There is an immense utilization of carbonate minerals as components of binding agents in construction aggregates, and sandstone, the building & construction sector, this is also attracting high capital investment from manufacturers.
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Regional Segment Analysis of the Carbonate Minerals Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia-Pacific region emerged as the largest market for the carbonate minerals market with a market value of USD 13.92 Billion in 2020. The upsurge in construction spending is boosting the market growth in China, and India, continuous innovations in the mining technology in Japan are also grabbing huge stakeholders’ attention. The developing economies in the Asia Pacific region are focusing on the development of the infrastructure, which includes buildings, bridges, dams, road etc. So there is a big opportunity for the carbonate mineral market in the forecasting years in the region. Also, with rising disposable income in emerging economies, the property prices are also increasing. North America represents the fastest-growing carbonate minerals market owing to the growing consumer demand for organic carbonate minerals in the region.
About the report:
The global carbonate minerals market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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