The global calcium carbonate market size is expected to reach USD 54.6 billion by 2027 registering a CAGR of 2.8%, 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.
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The paper application segment accounted for the largest market share of over 47% 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.
Calcium Carbonate Market Report Highlights
• 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 second-fastest CAGR of 3.7% from 2020 to 2027, 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
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Calcium Carbonate Market Segmentation
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, 2016 - 2027)
• Paper
• Paints & Coatings
• Plastics
• Adhesives & Sealants
• Others
Calcium Carbonate Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2016 - 2027)
• North America
o U.S.
• Europe
o Germany
o U.K.
o France
• Asia Pacific
o China
o India
o Japan
• Central & South America
• Middle East & Africa
List of Key Players of Calcium Carbonate Market
• 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.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.