According to the new market research report “Calcium Carbonate Market by Type (GCC and PCC), End-Use Industry (Paper, Plastic, Paints & Coatings, Adhesive & Sealants), and Region (APAC, North America, Europe, South America, Middle East & Africa) – Global Forecast to 2024″, The calcium carbonate market is projected to grow from USD 21.2 billion in 2019 to USD 28.3 billion by 2024, at a CAGR of 6.0% during the forecast period. The growth of the market can be attributed to the increasing consumption of calcium carbonate from various end-use industries such as paper, plastic, and paints & coatings.
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The ground calcium carbonate segment is projected to account for the largest market share, in terms of value, during the forecast period. Ground calcium carbonate is widely used as fillers in the plastic, rubber, and paper industries because of its low cost. It also provides brightness to paints, coatings, and paper. Furthermore, it provides a high level of illumination and light scattering properties.
Based on end-use industry, plastic is projected to be the fastest-growing end-use industry of calcium carbonate during the forecast period. This is due to the increasing demand for calcium carbonate-reinforced polypropylene from the automotive industry and the ability of calcium carbonate to enhance the properties of plastics and help in improved heat dissipation.
APAC is estimated to be the leading calcium carbonate market. The growth in the region can be attributed to the growing demand for calcium carbonate from various end-use industries such as paper, plastic, adhesives & sealants, and paints & coatings. The region’s strong industrial base, favorable government policies, and low labor cost are further strengthening the calcium carbonate market.
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The global calcium carbonate market is estimated to be USD 21.2 billion in 2019 to USD 28.3 billion by 2024, at a CAGR of 6.0% during the forecast period. The global calcium carbonate is mainly driven by the high demand from paper, plastic, and paints & coatings industries in China and India, among others.
The growth in various industries such as paper and plastic is driving the demand for calcium carbonate. Calcium carbonate helps in enhancing the printability, whiteness, and brightness & opacity of paper. The continuous expansion of the paper and plastic industries is continuously fueling the demand for calcium carbonate. Emerging economies such as China and India are putting more emphasis on adopting the latest technologies and manufacturing processes in various industries. This, in turn, is expected to drive the market during the forecast period.
Imerys (France), Omya AG (Switzerland), Mineral Technologies Inc. (US), Huber Engineered Materials (US), Mississippi Lime Company (US), Carmeuse (Belgium), Sibelco (Belgium), Midwest Calcium Carbonate (US), Calcinor SA (Spain), and Excalibar Minerals LLC (US), among others are the leading calcium carbonate manufacturers, globally. These companies adopted merger & acquisition, new product development, collaboration, agreement, and expansion as their major business strategies between January 2015 and August 2018 to earn a competitive advantage in the calcium carbonate market.
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Omya AG (Switzerland) is one of the leading players in the calcium carbonate market. The company has been focusing on both organic and inorganic strategies to maintain its leading position in the market. For example, in November 2018, the company introduced a new functionalized calcium carbonate for use in biopolymers under the brand name, Omya Smartfill 55– OM. The new calcium carbonate is particularly used as filler material for polylactic acid (PLA) as this demonstrates almost no hydrolysis when processed at filler loads of up to 40%. This development helped the company strengthen its position in the calcium carbonate market.
Imerys (France) is another major player in the calcium carbonate market. In February 2018, the company acquired the carbonate business of Vimal Microns (India), a major producer of ground calcium carbonate for the polymers and coatings applications. This acquisition helped the company strengthen its presence in India and provide better products to its customers with advanced technologies.
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