Carbonate Minerals Market size is forecast to reach $51.2 billion by 2025, after growing at a CAGR of 5.4% during 2020-2025, owing to the rising demand for carbonate minerals from various end-use industries due to its extensive characteristics such as transparency, better solubility, higher average specific gravity, and more. Carbonate minerals are used widely used for multiple functions such as mineral filler, whitening agent, an alkalizing agent. In the paper industry carbonate mineral is valued worldwide for its high brightness and light scattering characteristics, and it is used as an inexpensive filler to make bright opaque paper due to its special white color. Carbonate minerals are widely being used in the paper, plastics, paints, and coatings industries both as a filler and as a coating pigment, which is anticipated to drive the carbonate minerals market substantially during the forecast period
Carbonate Minerals Market Segment Analysis – By Mineral
Calcite held the largest share in the carbonate minerals market in 2019, owing to its superior characteristics and performance to other carbonate minerals. Calcite may be of almost any color range from reddish, pink, yellow, greenish, bluish, lavender, black, to brown owing to the presence of diverse impurities. It is even available in transparent, translucent, or opaque form due to which it has wide applications in various end-use industries such as paper & pulp. One of the greatest benefits of calcite is that it is self-limiting, in addition to being very economical-it only corrects the pH enough to achieve a non-corrosive balance. It is also commonly used to neutralize acidic or low pH water in residential and commercial water treatment applications to reduce corrosiveness and balance pH before iron treatment. Thus, calcite is being widely used in various end-use industries due to all of its superior characteristics which are anticipated to boost the demand for calcite minerals from the carbonate minerals market during the forecast period.
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Carbonate Minerals Market Segment Analysis – By Application
The paper & pulp application segment held the largest share in the carbonate minerals market in 2019 and is growing at a CAGR of 5.9%, owing to the increasing demand for calcium carbonate minerals from the pulp and paper industry due to its good ink receptivity, which provides better opacity, high brightness, and improved printability paper and pulp. Calcium carbonate is available as ground (GCC) or precipitated form (PCC). PCC is manufactured, while large natural deposits of ore are mined from GCC and clay. This fundamental difference in precipitated calcium carbonate gives rise to several advantages. The PCC carbonate minerals manufactures can control the chemical and physical properties of the particles. This allows optimizing PCC properties like particle size, particle size distribution, surface area, particle shape, and surface chemistry according to the customer’s specifications. Synthesized PCC is also inherently whiter and brighter than kaolin clay or GCCs. Flexibility in manufacturing also allows precipitated calcium carbonate to be prepared on-site at the paper mill, making it easily accessible with little or no transport. Thus, precipitated calcium carbonate is the most cost-effective mineral for producing high-quality paper and paperboard via substitution of more expensive wood pulp, additives, or other minerals, which is the key factor anticipated to boost the demand for carbonate minerals from the paper and pulp industry during the forecast period.
Carbonate Minerals Market Segment Analysis – By Geography
Asia Pacific region held the largest share in the carbonate minerals market in 2019 up to 38%, owing to the increasing building and construction activities in the region. For the construction industry, calcium carbonate is critical, both as a building material in its own right (e.g. marble) and as a cement ingredient. It is widely used in the production of the mortar used in bricks, concrete blocks, stones, roofing shingles, rubber compounds, and tiles for bonding. The building and construction activities are increasing in countries, such as India and Singapore due to economic reforms and the rising per capita income of the individuals. The population growth is resulting in the need for more residential and commercial sectors. Moreover, in India, the government has initiated projects, such as ‘100 smart cities’ and ‘Housing for All by 2022,’ which are expected to drive the Indian residential construction market over the forecast period. According to the International Trade Administration (ITA), the Chinese construction industry is forecasted to grow at an annual average of 5% in real terms between 2019 and 2023. Such initiatives are leading to increased building and construction activities by the government in the region. Thus, with the increasing building and construction activity in the region, the demand for carbonate minerals will also increase, which is anticipated to drive the carbonate minerals market in the Asia Pacific during the forecast period.
Carbonate Minerals Market Drivers
Increasing Building and Construction Sector
In the building and construction industry, carbonate minerals are extensively used as components of binding agents in aggregates, and sandstone in building materials. The building and construction activities are expanding at a lucrative rate across the world due to the increasing population, high urbanization, and rising per capita income of the individuals. According to the US Census Bureau, in February 2020 total construction of the United State was at a seasonally adjusted annual rate of 1,366,697 which is 6.0 percent above the February 2019 rate of 1,288,951. North American and European building construction are also expected to increase because of increasing government projects in the US, Canadian, and German economies. According to the European Commission, the total construction investment in Germany increased by 9.5% over 2008-2015. Also, the European Construction 2020 Action Plan aimed at stimulating favorable investment conditions. The building and construction activities are also increasing owing to the various government initiatives such as Foreign Direct Investments (FDI), which is anticipated to further drive the carbonate minerals market during the forecast period. The increasing demand for carbonate minerals from the building and construction industry and the expanding building and construction industry acts as a driver for the carbonate minerals market.
Increasing Government Initiatives in the Agricultural Sector
Carbonate minerals such as anhydrous carbonates and barium carbonate are being extensively used in the agriculture sector for crop care. Calcium Carbonate is a widely used amendment to neutralize soil acidity and to supply calcium for plant nutrition. For a wide range of agricultural applications, calcium carbonate and dolomite are suitable, including pH control, fertilizer conditioners and fillers, and animal feed formulations. The governments are spending heavily on initiatives and investments in the field of agriculture as it is one of the most effective ways of promoting agricultural productivity, enhancing environmental sustainability. The United States Department of Agriculture took an initiative – “The Agriculture and Food Research Initiative (AFRI)” to ensure food safety and security, enhance human nutrition, and train the next generation of the agricultural workforce. In 2020, the Canadian government invested a total of $560,000 in the Canadian Federation of Agriculture (CFA) to develop the Canadian Agri-Food Sustainability Initiative. The Indian government-funded a total of US$ 1.66 billion to agrifood start-ups in between 2013-17. The 2010- 2013 National Strategy for France’s Sustainable Development aimed to develop a more sustainable food production and support green economy and business innovation, and during the tenure, it achieved a higher domestic organic production and consumption. Thus, due to the various initiatives by the government, agricultural production is increasing in the various regions. With the increasing agricultural sector, the demand for carbonate minerals will also increase, which acts as a driver for the carbonate minerals market during the forecast period.
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Carbonate Minerals Market Challenges
Transportation Inconvenience Faced By the Manufacturers
One of the important factors that affect the processor of carbonate minerals such as calcium carbonate is the assured availability of the raw material in the required quantity at any time. To ensure the desired quantities are available, the manufacturing facility must be built in the required magnitude, including a reserve capacity, which can be deployed for production in the event of technical problems. To ensure the reliability of supply, a logistics system must be established which allows the rapid switching of supply from one production site to the other. At the same time, the costs of transport must be kept within economically acceptable limits. Recently, various firms have increased the amount of their calcium carbonate products, as one of the factors contributing to the pricing is an increase in the transport costs of the raw materials. For example, the increased cost of transporting PCC from the manufacturing site to the paper mill increases the total cost of transport. One of the leading companies, Mineral Technologies, is therefore setting up satellite plants in the vicinity of paper mill facilities to cut costs. Some companies also transport slurry-shaped calcium carbonate to reduce costs, though this may affect product quality. Thus, the rising cost of transporting carbonate minerals from one site to another acts as a restrain for the carbonate minerals market.
Covid-19 Impact on The Carbonate Minerals Market
Due to the Covid-19 outbreak, the carbonate minerals end-users are facing issues such as delays in receiving raw materials, which is further resulting in delayed shipments to the customer due to the restriction on import and export of commodities. Also, the quality of some raw materials has declined considerably. In addition, the import and export restrictions are heavily affecting the carbonate minerals market growth. Since all the building and construction activities are stopped until the pandemic, no new orders can be taken over neither the existing order production could be completed. For instance, the construction output in Great Britain fell by a record of 35.0% in Quarter 2 (Apr to June) 2020 compared with Quarter 1 (Jan to Mar) 2020. All these factors are affecting the carbonate minerals market negatively.
Carbonate Minerals Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the carbonate minerals market. In 2019, the market of carbonate minerals has been consolidated by the top five players accounting for xx% of the share. Major players in the carbonate minerals market are Mineral Technologies, IMERYS Carbonates, Magnesita Refractories, Maruo Calcium, Carmeuse, Calcinor, Huber Engineered Materials, Lhoist North America, Mississippi Lime Company, and Great Lakes Calcium Corporation.
In May 2020, Minerals Technologies signed an agreement with Satia Industries Limited to construct a 42,000 Metric Ton per Year Satellite PCC Plant in India. In the second quarter of 2021, the facility is scheduled to commence operation.
In June 2020, to support the production of higher value grades, Minerals Technologies signed an agreement with Phoenix Paper to rebuild and operate a 35,000 tonne per year satellite PCC plant in the U.S.
In July 2015, Imerys Carbonates launched Life Elements, a product line specifically for the food and pharmaceutical industries. Life Elements offers two product lines that provide the flexibility to meet specific processing conditions and formulation needs Calcius™ and I-Blum™
Asia Pacific dominates the carbonate minerals market, owing to increasing manufacturing & construction activities in the region due to the various government initiatives such as 100 smart cities and Housing for all by 2022.
In many daily supply products, such as baking powder, toothpaste, dry-mix dessert mixes, and dough, calcium carbonate is utilized. It is widely used as an effective dietary calcium supplement, antacid, phosphate binder, or base material for medicinal tablets, which is anticipated to boost the carbonate minerals market.
Among researchers, particularly for therapeutic applications, nano calcium carbonate has attracted interest. Materials based on calcium carbonate have biodegradable and biocompatible properties, which make them a smart carrier and ideal for delivering genes, enzymes, and drugs.
Studies are being conducted to implement these nanoparticles in therapeutic applications, including as an antibacterial agent, for gene delivery to target cancer cells, and for cancer drug delivery, which is anticipated to drive the carbonate mineral market growth during the forecast period.
Due to the COVID-19 pandemic, most of the countries have gone under lockdown, due to which operations of various industries such as building & construction and glass & ceramics has been negatively affected, which is hampering the carbonate minerals market growth.
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B. Nickel Carbonate Market
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