The global calcium carbonate market size is projected to surpass USD 55 billion by 2027, according to a new report by Precedence Research. Increasing demand for paper from packaging applications and hygiene-related products like tissue paper is a major growth driver for the market.
The global calcium carbonate market size was valued at USD 44 billion in 2019 and is expected to grow at a CAGR of 2.9%, in terms of revenue, from 2020 to 2027.
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 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 dominated the global market and accounted for the largest revenue share of more than 43.3% in 2019. 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.
North America was the second-largest regional market. 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 calcium carbonate market.
Some prominent players in the global calcium carbonate market include:
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.
Paints & Coatings
Adhesives & Sealants
Central & South America
Middle East & Africa
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