The global ground and precipitated calcium carbonate market is estimated to secure a CAGR of 5.4% during the forecast period. The market is predicted to secure a valuation of US$ 24.4 billion in 2023 and reach US$ 41.3 billion by 2033.
Driving Factors in the Global Market
- Construction Industry Growth:Calcium carbonate is extensively used in the construction industry as a filler material in concrete, making it a vital component for infrastructure development. The construction sector’s growth directly influences the demand for ground and precipitated calcium carbonate.
- Paper Industry Demand:Calcium carbonate is a key ingredient in the paper industry, where it is used as a coating and filler in paper products. As the demand for paper and packaging materials increases, so does the need for calcium carbonate.
- Increasing Water Treatment Applications:Calcium carbonate is widely used for softening and pH adjustment in water treatment processes. The growing population and industrialization have increased the demand for clean water, driving the need for calcium carbonate in water treatment.
- Rising Demand in Plastic Industry:The plastic industry uses calcium carbonate as a cost-effective filler material to produce various plastic products. With the ongoing expansion of the plastic manufacturing sector, the demand for calcium carbonate is also expected to rise.
- Growing Demand in the Paint and Coatings Industry:Calcium carbonate is used as an extender in the paint and coatings industry, enhancing properties like opacity, brightness, and resistance. The growing construction and automotive sectors contribute to the increasing demand for paints and coatings, thereby driving the demand for calcium carbonate.
- Agricultural Applications:Calcium carbonate is used in agriculture as a soil amendment to enhance soil pH and provide essential nutrients. The need for improved agricultural productivity is likely to boost the demand for calcium carbonate in this sector.
- Health and Personal Care Products:In the pharmaceutical and personal care industries, calcium carbonate is used in various products, including antacids, toothpaste, and dietary supplements. The rising health awareness and demand for personal care products contribute to the growth of this market segment.
- Renewable Energy Projects:As the focus on renewable energy sources increases, there is a growing demand for calcium carbonate in the manufacturing of solar panels and wind turbine blades, as well as in energy storage applications.
- Geographic and Infrastructure Expansion:The growth of emerging economies and increasing urbanization drive infrastructure development, leading to a higher demand for construction materials, including calcium carbonate.
- Technological Advancements:Ongoing research and technological advancements in ground and precipitated calcium carbonate production processes are likely to improve efficiency and reduce costs, further contributing to market growth.
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Key Takeaways:
- The global ground and precipitated calcium carbonate market is anticipated to register a CAGR of 5.4% with a valuation of US$ 41.3 billion by 2033.
- Based on product type, precipitated calcium carbonate is estimated to dominate the global market during the forecast period.
- The United States is estimated to secure a maximum global market share by 2033.
How do Key Players Upsurge the Global Market?
Key players play a vital role in the global market by investing huge amounts in research and development activities. These players drive the global market by innovating unique and improved products to capture consumers’ attention. These players are adopting various marketing tactics to upsurge the global market, such as mergers, collaborations, agreements, and partnerships.
Top Key Players in the Global Market
- Solvay S.A.
- Minerals Technologies Inc.
- Imerys
- Huber Engineered Materials
- SCHAEFER KALK GmbH & Co KG
- Longcliffe Quarries Ltd
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Recent Developments in the Global Market are:
In 2020, Imerys announced it to supply ground calcium carbonate to manufacture gloves for medical uses and reduce production costs.
Key Segmentation
By Product Type:
- Ground calcium carbonate
- Precipitated calcium carbonate
By End Use Industry:
- Plastics
- Rubber
- Paper
- Adhesives & Sealants
- Paint & Coatings
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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