The global calcium carbonate market size is expected to reach USD 60.7 billion by 2028 registering a CAGR of 5.6%, according to a new report by Grand View Research, Inc. Calcium carbonate is a compound that is commonly found in rocks, such as limestone and dolomite. The product is extracted by quarrying or mining and is further processed to form Precipitated Calcium Carbonate (PCC) or Ground Calcium Carbonate (GCC).
The product is extensively used in various applications including paper, paints & coatings, food, health-related products, and building & construction materials. The COVID-19 pandemic impacted both the production and consumption of calcium carbonate. The enforcement of lockdown across major cities has disrupted the mining, manufacturing, and supply chain activities across the globe, causing a decline in product demand. However, the demand is high in the healthcare market and related industries, mainly in the paper industry due to rising concerns regarding personal hygiene, which is boosting the demand for tissue papers.
The paper application segment accounted for the largest market share of over 50% in 2019 and is expected to grow at a steady rate during the forecast period. Growing concerns regarding sustainability and hygiene are the major growth drivers for the paper industry. For instance, initiatives undertaken to ban single-use plastic products have propelled the consumption of paper in packaging applications.
Plastics is another significant segment of the market, which utilizes calcium carbonate as a filler. The product is not just considered as a resin extender in plastics anymore but its addition has contributed to increased performance, processing, and sustainability in the finished parts. In addition, its low cost provides an economic advantage. Moreover, it is 100% FDA-approved, which allows it to be used in the food and medical applications as well. The COVID-19 pandemic has accelerated the growth of the medical industry, which, in turn, has propelled the demand for plastic.
Plastics are widely used in the medical industry in various applications, such as disposable medical devices, surgical gloves, IV tubes, and other tools. These are one-time-use products and their demand has increased during the pandemic. Asia Pacific was the largest regional market in 2019 and is anticipated to retain its dominance over the forecast period. Government initiatives for the development of the manufacturing sector by offering incentives and inviting FDIs are expected to benefit market growth. For example, in May 2020, Mineral Technologies signed an agreement with Satia Industries Ltd. to build a 42 kiloton per annum satellite PCC plant in Punjab, India. Satia Industries Ltd. is a renowned papermaker in India that will utilize Mineral Technologies’ PCC as a filler to enhance opacity, bulk, and brightness of paper.
The global market is highly competitive owing to the presence of numerous established players in the industry that are integrated across the value chain. The competitive scenario is intense for the market as major players have reported losses during the first half of 2020. For example, Mineral Technologies reported a loss of 14.44% and Imerys reported a loss of 15.3% in their revenue for Q2 2020.
Request a free sample copy or view report summary: Calcium Carbonate Market Report
Asia Pacific accounted for the largest revenue share in 2019 and is expected to grow further on account of rising focus on the development of the manufacturing sector in the region
Paper was the largest application segment in 2019 and accounted for a volume share of more than 50%
The growth of this application segment is attributed to the high demand for paper from the packaging and healthcare industries
Plastics is expected to register the fastest CAGR of 5.0% from 2020 to 2028, in terms of revenue, on account of its rising demand from the medical sector
The Middle East & Africa is anticipated to register a significant CAGR during the forecast period on account of rapid growth in the construction industry that is propelling cement production in the region
Grand View Research has segmented the global calcium carbonate market on the basis of application and region:
Calcium Carbonate Application Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)
Paints & Coatings
Adhesives & Sealants
Calcium Carbonate Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2028)
Central & South America
Middle East & Africa
List of Key Players of Calcium Carbonate Market
Blue Mountain Minerals
Carmeuse Lime & Stone Company
GLC Minerals, LLC
Greer Limestone Company
Gulshan Polyols Ltd.
J.M. Huber Corp.
Midwest Calcium Carbonates
Mountain Materials, Inc.
Parchem Fine & Specialty Chemicals
The National Lime & Stone Company
United States Lime & Minerals, Inc.
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."