The global nano calcium carbonate market size was USD 4,320.8 million in 2015 and is expected to witness growth owing to rising demand from end-use industries including rubber, plastic, and paper. Growing product use in sealant industry as rheological materials on account of its thixotropic structure which helps achieve desired slump and viscosity control is expected to drive the market growth over the next eight years. Also, growing use of nano calcium carbonate as reinforcing fillers in automotive and construction sealants is expected to drive the demand over the forecast period. Furthermore, rising emphasis by the regional governments in the matured economies such as U.S. and Europe to reduce the carbon footprint by reducing energy consumption in the production process is likely to fuel the industry growth over next eight years.
Growing application scope of nano calcium carbonate, in the end-use industries on account of its ability to modify performance characteristics of materials including rubber, plastics, adhesives and sealants is likely to drive the demand over the forecast period. These characteristics include improved weather resistance, impact resistance, heat resistance, superior toughness and performance under extreme temperature conditions. Also, the product is increasingly being used owing to its ability to reduce the overall volume formulation which in turn reduces the final product cost. Rising demand from rubber industry as a cheap and effective substitute to carbon black on account of its superior chemical properties is expected to propel the growth over the next eight years. Also, less polluting nature of the product coupled with lower toxicity levels is further expected to aid the growth.
U.S. Nano Calcium Carbonate Market Revenue, By Application, 2013 - 2024 (USD Million)
Application in plastics segment accounted for a share of over 20% in 2015. Rising product use in the plastics industry coupled with growing application scope in modifying the functional properties of various grades of plastics is expected to drive the demand over next eight years. Furthermore, rising use of nano calcium carbonate in the plastic processing sector as a filler material and reinforcing agent to manufacture high-grade plastic products is expected to drive the growth. Growing product demand in the plastics industry as inorganic mineral powder on account of reduced raw material costs and improved performance is likely to fuel the demand over the forecast period. Furthermore, rising application scope in the plastic industry on account of reduced white pollution is expected to propel the demand over next eight years. Rising industrialization coupled with growing demand for consumer electronics, food & beverage and medical equipment in the emerging economies of Asia-Pacific and the Middle East & Africa is expected to positively impact the plastics industry in the region which in turn will drive the demand for nano calcium carbonate over next eight years.
Construction and building segment accounted for around25% of the overall volume in 2015 and is expected to grow at an estimated CAGR of 9.2% from 2016 to 2024. Rising construction activities globally coupled with growing urbanization in emerging economies including Middle East, Africa, China, India, Thailand, and Vietnam is expected to drive the demand for adhesive and sealants in the region, which in turn is expected to drive the demand for nano calcium carbonate over the forecast period. Growing use of adhesives and sealants in the construction industry owing to its properties such as improved elasticity and workability in various applications is likely to drive the growth over the forecast period.
Rising use of nano calcium carbonate in industries such as paper, automotive, and pharmaceuticals owing to durability, strength and flexibility is expected to drive the market growth over the next eight years.
Asia Pacific emerged as the largest regional market accounting for more than 40% of the global volume in 2015. Rapid growth in the industries including construction, automotive, paper, rubber, and manufacturing is expected to drive the demand over the next few years. Rising investment by the regional governments in emerging economies particularly China and India to improve the overall infrastructure including residential and commercial infrastructure is likely to fuel the demand over the next eight years. Also, growing automotive production in the region on account of rising demand for light and commercial vehicles is expected to drive the growth of the product in the region over the next eight years. Easier raw material availability coupled with cheaper labor costs is likely to complement the growth of industries in the region which in turn is expected to drive the demand.
Europe is expected to witness a significant share of demand on account of rising investment by the manufacturing companies in capacity expansion and improvement. In addition, increasing investment by the global manufacturing firms to set up new production bases in the Eastern European countries including Poland, Czech Republic, and Romania is expected to augment market growth over the forecast period. Stringent government legislations about pollution control and reduction is expected to propel demand in the region.
Competitive Market Share Insights
Key market participants include Specialty Minerals Inc., Imerys Performance Minerals, Omya, Enping Yueyi Chemistry Industry Co. Ltd., Fujian Sanmu Nano Calcium Carbonate Co.,Ltd, and Mittal Enterprises (ShengdaTech, Inc.). Akzonobel N.V. is involved in production of performance coatings and specialty chemicals. The company operates through three segments including decorative paints, performance coatings, and specialty chemicals. In January 2012, AkzoNobel completed the acquisition of Boxing Oleochemicals in order to strengthen company business in Asia Pacific.
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