Calcium Carbonate Market Size, Share & Trends Analysis Report By Application (Paper, Plastics, Paints & Coatings, Adhesives & Sealants), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global calcium carbonate market size was valued at USD 42.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2022 to 2030. Increasing demand for paper from packaging applications and hygiene-related products like tissue paper is a major growth driver for the market. However, the product demand witnessed a decline in 2020 owing to the outbreak of the coronavirus. The pandemic caused widespread shutdowns across the globe, which significantly impacted the economy worldwide in the first half of 2020. With the ease in restrictions in the second half of the year, companies are putting in extra efforts to resume their operations, which is a positive sign for market growth.

The U.S. has been a prominent destination for the product considering high demand from industries including paints and coatings, adhesives and sealants, and paper manufacturing. Paper is the largest application segment of the market and the U.S. is amongst the world’s largest paper manufacturers. Despite the pandemic that majorly impacted the country’s economy, the demand for calcium carbonate continues to persist, especially in the paper production sector owing to a growing emphasis on cleanliness.

The market for calcium carbonate has been hampered by supply chain instability, a slowdown in raw material production, trade movement slowing, and a decline in construction, vehicle, and paint and coatings demand due to the COVID-19 pandemic. Calcium carbonate demand is tied directly to numerous industries that are witnessing business uncertainty, such as automotive, paper, plastics, and building and construction.

A drop in paper consumption from corporate offices, schools, and universities, and the newspaper and printing industries has hampered the growth of the paper industry. However, new application categories including hygiene paper products, food packaging, medical specialty sheets, and corrugated packaging have provided opportunities for the business, which is driving up the demand for calcium carbonate, thus reducing the pandemic's impact to some extent.

According to the American Forest & Paper Association, the U.S. paper and wood products industry recorded high levels of tissue production in February and March 2020. The U.S. mills produced around 700 kilotons of tissue in March. Factors like lockdown and extra hygiene concerns led to panic buying and stockpiling of tissues and other cleaning products, thereby benefitting the market growth.

Despite the demand for calcium carbonate in the paper segment, the market witnessed a dip in 2021 owing to restricted transportation, a halt in manufacturing operations for non-essential industries, and the shutdown of mines across various regions. Several market players reported negative sales and profits for the first half of 2021.

For instance, LafargeHolcim, an integrated player in the market, reported a 14% profit fall in Q1 of 2020 as the pandemic caused building sites to shut down around the world. The company mines limestone produces calcium carbonate and uses it to manufacture cement, which is further catered to the construction industry. The company had to stop its mining activities in March 2020 in Meghalaya, India due to lockdown; however, the operations resumed after a couple of months as mining activities were allowed by the state government with the enforcement of social distancing norms and proper hygiene conditions.

Application Insights

The paper segment emerged as the largest application segment in 2021 and accounted for a revenue share of over 40.0%. Calcium carbonate is added as a filler to the paper pulp or is applied as a coating pigment. Its addition enhances the brightness and opacity of the paper. Although the internet did impact the print media market, it did not restrict the demand for paper in other applications, such as packaging and tissue paper.

The current pandemic has compelled manufacturers to ramp up their production to cater to the rising consumer needs. For instance, in August 2020, Celulosa Argentina announced an increase in its production of paper packaging by 30%. The company’s focus was on the food industry as the demand surged in this sector. With the growth of the e-commerce sector and the growing usage of tissue papers, the paper application segment is anticipated to maintain its lead over the forecast period.

The paints and coatings segment emerged as the second-largest application segment in 2021. The product is used in several applications in the paints and coatings sector. It acts as an agent for reducing or enhancing gloss, as an extender, a rheology modifier, and as an additive for increasing density. Despite many uses, the product demand was impacted in this application segment in 2021 owing to a halt in the manufacturing operations, which disrupted the entire production and supply chain of the paints and coatings industry.

Although the production has resumed with ease in restrictions, the rising cases of COVID-19 and operations at minimal capacity are still matters of concern for the market players. Certain companies have adopted strategies to cope with this scenario. For instance, Asian Paints, a leading player in Asia, has launched a new range of products in the health and hygiene segment. The company is running a “Safe Painting Campaign” to boost its sales. In addition, the company has begun a “San Assure” service for sanitizing homes, workplaces, and shops. Such initiatives are anticipated to increase the demand for paints and coatings, thereby leading to market growth.

Regional Insights

Asia Pacific dominated the global market and accounted for a revenue share of more than 35.0% in 2021. The region is anticipated to expand further at a steady CAGR from 2022 to 2030 due to rising investments in the infrastructure development and manufacturing sector. However, due to the pandemic, the manufacturing operations and supply chain have been immensely impacted. Apart from China, all other major Asian countries have reported negative GDP growth for the second quarter of 2020.

Economies are putting in extra efforts for the proper functioning of operations in different sectors by maintaining essential protocols required during the pandemic. As the operations resume, certain industries have reported positive news; for instance, automotive sales in India went up in the past two months. In addition, the demand for paints and coatings and vehicles is anticipated to increase, which, in turn, will augment the demand for calcium carbonate.

North America was the second-largest regional market in 2021. Though the region has been severely impacted by the pandemic, the end-use industries of the market have begun their operations at minimal capacity considering the rise in consumer demand. Industries including medical, packaging and DIY are boosting the demand for products such as adhesives and paper, which is a positive sign for the market. For instance, in January 2021, Gabriel Performance Products (Gabriel) was acquired by Huntsman Corporation from Audax Private Equity. Gabriel is a North American specialty chemical producer of specialized epoxy curing agents and additives for the sealants, coatings, composites, and adhesives end markets.

The U.S. held the largest revenue share in the North American market in 2021 and is expected to maintain its lead over the forecast period. Considering the product demand in the country, companies are engaged in boosting their production capacities and expanding their presence in the country. For instance, in March 2020, Anglo Pacific Group PLC announced entering into a financing agreement with Incoa Performance Minerals LLC for funding the construction of a calcium carbonate-associated infrastructure in the Dominican Republic.

Key Companies & Market Share Insights

The market is highly competitive as various players are integrated across the value chain with their presence in mining operations, processing facilities, and the application sector. Mergers & acquisitions are among the key strategic initiatives adopted by most of the players to sustain their leadership and market share. For example, in February 2022, The Sherwin-Williams Company entered a deal with the city of Statesville, the state of North Carolina, and Iredell County to considerably increase its architectural coatings and paint manufacturing capacity and open a more extensive distribution facility in Statesville, North Carolina.

In addition, in November 2019, Imerys acquired three manufacturing facilities from EDK (a leading Brazilian producer of GCC). The acquisition was aimed at expanding the former’s footprint in South America and boosting its product portfolio for paints and coatings applications. The competitive scenario turned out to be quite intense post-2019 with the outbreak of coronavirus, with various players reporting losses in their sales. Some prominent players in the global calcium carbonate market include:

• AGSCO Corp.

• Carmeuse

• Blue Mountain Minerals

• Carmeuse Lime & Stone Company

• GCCP Resources

• GLC Minerals, LLC

• Greer Limestone Company

• Gulshan Polyols Ltd.

• ILC Resources

• Imerys

• J.M. Huber Corp.

• LafargeHolcim

• Midwest Calcium Carbonates

• Mineral Technologies

• Mississippi Lime

• Mountain Materials, Inc.

• NALC, LLC

• Omya

• Parchem Fine & Specialty Chemicals

• The National Lime & Stone Company

• United States Lime & Minerals, Inc.

Calcium Carbonate Market Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global calcium carbonate market report on the basis of application and region:

• Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • Paper

  • Paints & Coatings

  • Plastics

  • Adhesives & Sealants

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

  • Middle East & Africa