The Total Addressable Market (TAM) for Calcium Carbonate was valued at USD 42.1 billion in 2021. It is projected to reach USD 65.87 billion by 2030, growing at a CAGR of 5.10% during the forecast period (2022-2030). CaCO3 is the formula that represents calcium carbonate in chemistry. It is usually present in rocks such as calcite and aragonite and is most prominently in limestone, a sedimentary rock primarily made of calcite. Calcium carbonate also serves as the primary building block for pearls, gastropod shells, and eggshells. Growing demand for paper from packaging applications and hygiene-related products like tissue paper is a significant growth driver for the market. In addition, farmers use agricultural lime (calcium carbonate), which is produced when calcium ions from hard water combine with carbonate ions.
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Developing Paper Industry in the Asia-Pacific Region
Calcium carbonate is consumed in significant quantities by the paper industry. The Asia-Pacific region's demand-supply balance dramatically impacts the world's paper industry. The region is distinguished by its dense population and rising per capita income levels. The demand in China and India is anticipated to remain a significant focus for market suppliers because calcium carbonate is used more frequently in the paper industry. Increased newspaper and magazine readership in India is anticipated to continue to be a significant driver of market expansion.
Although several mineral alternatives for calcium carbonate are used in paper-related applications, calcium carbonate outperforms them all. Talc, kaolin clay, titanium dioxide, and calcium carbonate are used in paper production. While kaolin clay can be used as a filler in the production of alkaline and acidic papers, it provides less brightness than calcium carbonate. Titanium dioxide and talc are needed when extreme whiteness or pitch control. However, titanium dioxide's price and environmental impact drive the demand for calcium carbonate over the forecast period.
Aspects of the Mining Industry
Marine limestone deposits can be found throughout the United States and date back more than 300 years. These deposits contain calcium carbonate that is 95% chemical grade. On the other hand, adequate deposits of limestone are challenging to locate. The price of limestone is affected by the distance that it must be transported. Compared to shipping by train or by ocean, shipping by truck is less expensive. In the United States, opening new quarries and manufacturing facilities takes time. Setting up a cement plant takes about two years, and the application procedure can take up to ten years. These obstacles limit the ability to develop quarries. Many businesses are still working on upgrading and expanding their facilities.
Most of the mined limestone is used for crushed or aggregate purposes. Additionally, limestone is the source of most crushed stone in North America. While the United States produces more limestone, it imports minerals from nations like China, Mexico, and Canada. The lengthening transit distances impact the costs of the finished goods. In addition to the difficulties with transportation, limestone is the cause of a significant number of caves and sinkholes. Rainwater or groundwater that is close to the surface causes limestone to disintegrate on the surface. High amounts of limestone dissolve in water in humid conditions. The problems with limestone mining are impeding market expansion.
Rising Nano Calcium Carbonate Demand in the Rubber and Plastic Industry
Nano calcium carbonate can be used to improve the functionality of plastics, rubber, sealants, and adhesives. These qualities include resistance to impacts, enhanced weather resistance, increased toughness, heat tolerance, and functionality in scorching environments. The manufacture of nanoscale calcium carbonate particles with a significant surface area is now possible because of technological advancement. These particles are coated with surface modifiers to optimize dispersion and increase compatibility with the polymer matrix.
Nano calcium carbonate allows for a reduction in the overall volume formulation, which lowers the cost of the finished good. Due to its improved chemical characteristics, Nano calcium carbonate is predicted to be in greater demand from the rubber industry as a reliable and affordable replacement for carbon black. Nano calcium carbonate is used to create rubber, which has excellent anti-bending properties, a smooth surface, high tension resistance strength, and high anti-avulsion strength.
The global calcium carbonate market is segmented by application.
Based on application, the global calcium carbonate market is bifurcated into paper, paints and coatings, plastics, adhesives and sealants, and other applications.
The paper segment is the highest contributor to the market and is expected to grow at a CAGR of 5.80% during the forecast period. The carbonation process, a series of chemical events, produces precipitated calcium carbonate (PCC). Compared to GCC, PCC offers the paper substantially higher gloss and opacity qualities. A brightness of between 90 and 97% is achievable with PCC and has a needle-shaped, prismatic, scalenohedral, and rhombohedral physical structure. Calcium carbonate will continue to play a significant role in manufacturing paper, despite PCC-containing paper sheets' poorer formation than GCC-containing paper sheets. The demand for paper goods is expected to rise in emerging nations like China and India due to rising income levels and increasing population. According to the UNFPA, India's population is projected to increase to almost 1.45 billion by 2028. This is expected to affect the demand for products containing calcium carbonate indirectly.
Paint and coating production currently produces a wide range of products. The market offers the best paint and coating for every purpose and surface, from interior wall paints to anti-corrosive primers. Industrial coatings prevent corrosion and defects brought on by unanticipated climate changes. One of the key additions that encourage such adaptability is ground calcium carbonate. The need for paints and coatings products is expected to increase due to rising commercial and residential construction in nations like India, China, Brazil, and South Africa. Naturally occurring calcium carbonate has a low oil absorption rate and an alkaline pH value. This is expected to help expand the market for ground calcium carbonate products.
Mineral fillers made of calcium carbonate are frequently utilized in the plastics sector. As the addition of plastic, calcium carbonate improves the functionality, processing, and sustainability of the produced component. The environmental advantages of using calcium carbonate in manufacturing plastics will drive demand for the market in the upcoming years. Calcium carbonate has demonstrated better outcomes through increased output, significant energy savings, and advantages. Additionally, calcium carbonate has reportedly demonstrated decreased greenhouse consequences in the end-user segment.
In the production of adhesives and sealants, calcium carbonate is regarded as a fundamental raw element. The cost savings was one of the traditional primary justifications for employing this mineral filler. Improved durability and resilience of coating films, sealant, and adhesive joints, and hence the entire product lifecycle, are additional benefits of using calcium carbonate for adhesive and sealant application. Consumer goods comprise various everyday items with a strong demand for sealants. These goods include, among other things, pharmaceuticals, medical goods, and personal care goods. The personal hygiene market is expanding significantly, with demand for those items coming from adult and baby care products.
The global calcium carbonate market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific Dominates the Global Market
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Asia-Pacific is the most significant shareholder in the global calcium carbonate market and is expected to grow at a CAGR of 4.40% during the forecast period. Some key factors driving the calcium carbonate industry in the region include rising private demand, expanding manufacturing activity, and rising foreign investments. Paper loadings are expected to increase more quickly in China due to current production methods. Additionally, calcium carbonate has a higher penetration than kaolin and other materials due to cheaper costs and availability. Numerous businesses are concentrating on expanding their capacities in developing nations like China and India due to the increase in demand. The region of the world economy with the highest economic growth rates is still the Asia-Pacific.
North America is anticipated to increase at a CAGR of 4.80%, generating USD 36,720.30 million over the forecast period. While finely ground calcium carbonate (GCC) has several industrial and pharmaceutical uses, precipitated calcium carbonate (PCC) is mainly used in paper production. The paper business in North America is destined to expand due to the rising use of paper in the production of numerous everyday things, including tissues, coffee cups, printing paper, packaging paper, and others. This is also anticipated to increase the market share of calcium carbonate industrial fillers by encouraging the usage of calcium carbonate fillers in the paper sector. Additionally, it appears that calcium carbonate is displacing kaolin in glossy sheets in North America.
Europe is expected to grow significantly over the forecast period. The construction of satellite plants bodes well for the European PCC market. Through CCA-Europe, European calcium carbonate producers have established their representation at the European level. Members of the CCA-Europe group communicate on scientific and legislative matters pertaining to calcium carbonate minerals that are of common interest. Additionally, calcium carbonate and other industrial minerals must adhere to specific requirements outlined by REACH, the EU Chemicals Policy. In addition, Germany is one of the European region's biggest markets for paints and coatings. IMA-Europe set up the IMA REACH Hub to help firms implement REACH in the minerals sector.
The Middle East and Africa region leads the world in crude oil production. Many significant regional nations, including Saudi Arabia, Kuwait, Oman, Bahrain, Libya, Iraq, Angola, and Iran, rely on the oil industry. Except for Venezuela and Ecuador, all OPEC nations are in the Middle East and Africa region. In order to create the world's oil supply and maintain the balance between supply and demand, as well as oil prices, the OPEC region was initially established. Building supplies, including cement, sealants, and adhesives, employ calcium carbonate. The Middle East and Africa building sector's expansion has fueled the region's need for calcium carbonate products. Following the recovery in private consumption in 2017, the South American economy is anticipated to rebound after a three-year downturn. It is anticipated that business activity will increase and take the lead role in driving the economy.
The global calcium carbonate market's major key players are AGSCO Corp. Carmeuse Blue, Mountain Minerals, Carmeuse Lime & Stone Company, GCCP Resources, GLC Minerals LLC, Greer Limestone Company, Gulshan Polyols Ltd., ILC Resources Imerys, and J.M. Huber Corp.