Ground And Precipitated Calcium Carbonate Market to Hit US$ 41.35 Bn by 2032
During the forecast period, the global market for ground and precipitated calcium carbonate is anticipated to grow at a CAGR of 5.4%. The market is anticipated to be worth US$ 24,442.70 million in 2022 and US$ 41,357.6 million by 2032.
The rise in demand for plastic and paper products in the packaging industry over the anticipated period is driving up demand for ground and precipitated calcium carbonate on a global scale. Additionally, expanding operations in the rubber, construction, and pharmaceutical industries have recently fueled the global market share for ground and precipitated calcium carbonate.
Calcium carbonate is one of the most abundantly occurring minerals on earth and composes nearly four percent of earth’s crust. It exists naturally in the form of limestone, marbles and chalk formed by sedimentation over a period of time. It is one of the most versatile compounds and finds a variety of applications across a diverse set of industries including construction, steel, and agrochemicals among others.
Two of the prominent types of calcium carbonate that have found significant commercial applications are fine ground calcium carbonate and precipitated calcium carbonate. Derived from calcium carbonate, these compounds find application primarily as mineral fillers for plastics, paints & coatings, rubbers & elastomers among others.
Besides, fine ground calcium carbonate and precipitated calcium carbonate are also used as pigments, processing aids, extenders, and impact modifiers across industries.
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Although the two product types serve similar range of applications, there do exist several distinctions among the two that drive the preference for one type over the other for certain specific application areas.
Precipitated calcium carbonate is composed of relatively smaller sized particles, is relatively brighter and also has relatively higher calcium carbonate content as compared to fine ground calcium carbonate.
The two calcium carbonate types are produced either by processing naturally occurring minerals or by synthetic route wherein chemical process is adopted to produce the desired product type.
Global Ground and Precipitated Calcium Carbonate Market Dynamics
In terms of market volume, global ground and precipitated calcium carbonate market is expected to witness a steady growth, registering a moderate single digit growth compounded annual rate during the forecast period.
This forecast growth in consumption of ground and precipitated calcium carbonate is expected to primarily be attributed to steady growth in demand from end use industries based in Asia Pacific region.
Thus, steady growth of construction sector coupled with forecast steady growth of global automotive production is expected to positively impact the consumption of ground and precipitated calcium carbonate across end use industries.
Moreover, steady growth in demand from plastics and rubber industries is expected to propel the global ground and precipitated calcium carbonate market over the forecast period.
However, relatively sluggish to slow growth of paper industry, major ground and precipitated calcium carbonate consuming industry, across key markets such as Europe and North America is likely to act as an impediment to growth of global ground and precipitated calcium carbonate market during the forecast period.
Also, relatively slower economic growth is expected to restrain the growth of the market in the initial phase of the forecast period.
Global Ground and Precipitated Calcium Carbonate Market: Regional Outlook
Moreover, on the basis of key geographical regions, global ground and precipitated calcium carbonate market has been segmented in to North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, Japan, and Asia Pacific excluding Japan (APEJ).
Among the aforementioned regional markets, consumption of precipitated and ground calcium carbonate is expected to be dominated by APEJ region, spearheaded by China. A steady growth is expected to be registered by ground and precipitated calcium carbonate market in the region during forecast period
Global Ground and Precipitated Calcium Carbonate Market Players
A major share of overall global production capacity for the two compounds is concentrated in Asia Pacific region followed by Europe and relatively lower shares distributed across other parts of the globe.
Some of the key players operating in global ground and precipitated calcium carbonate market include among others,
- Solvay S.A.
- Minerals Technologies Inc.
- Huber Engineered Materials
- SCHAEFER KALK GmbH & Co KG
- Longcliffe Quarries Ltd
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, product types and end use industries.
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Global Ground and Precipitated Calcium Carbonate Market Segmentation
Depending on type of product, global ground and precipitated calcium carbonate market has been segmented in to following key segments:
- Ground calcium carbonate
- Precipitated calcium carbonate
Among the above listed product type segments, fine ground calcium carbonate accounted for a dominant share in overall global ground and precipitated calcium carbonate over the recent past the trend is expected to continue over the forecast period
On the basis of end use industries, global ground and precipitated calcium carbonate market has been segmented in to following key segments:
- Adhesives & Sealants
- Paint & Coatings