The global calcium carbonate market size is expected to reach USD 74.64 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.6% from 2023 to 2030. 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 and coatings, food, health-related products, and building and construction materials. The COVID-19 pandemic impacted both the production and consumption of calcium carbonate. 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 global market is highly competitive owing to the presence of numerous established players in the industry that are integrated across the value chain. In January 2021, Audax Private Equity announced the completion of the sale of Gabriel Performance Products to Huntsman Corporation. 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 2023 and is expected to grow further on account of the rising focus on the development of the manufacturing sector in the region. 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 the opacity, bulk, and brightness of paper.
· The paper application segment was the largest application segment in 2023 and accounted for a revenue share of more than 41.69%. Growing concerns over sustainability and hygiene are driving the paper industry. For instance, initiatives undertaken to ban single-use plastic products have propelled the consumption of paper in packaging applications. In addition, the growth of this application segment is attributed to the high demand for paper from the packaging and healthcare industries
· 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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Key Companies & Market Share Insights
Key companies are adopting several organic and inorganic growth strategies, such as capacity expansion, mergers & acquisitions, and joint ventures, to maintain and expand their market share.
· In August 2022, Cimbar Resources Inc. announced the acquisition of U.S.-based Imerys Carbonate Inc. calcium carbonate manufacturing assets located in Arizona, U.S. This acquisition helped Cimbar Resources expand its product portfolio and facilitate its goal of providing customers with a wide range of products from multiple locations.
· In April 2023, Omya India, a prominent producer of calcium carbonate, announced its plan to invest USD 25 million in its advanced calcium carbonate plant in Gujarat. This significant investment strives to expand the plant's capacity and improve its overall efficiency, reinforcing Omya India's dedication to delivering high-quality products to meet the growing demand.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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