Projected Surge: Carbonate Minerals Market to Witness 6.0% CAGR Growth from 2022 to 2029

Carbonate Minerals Market Carbonate Minerals Market

Widespread usage of paper in the fast moving consumer goods (FMCG) sector boosts the growth of the paper industry, which eventually leads to escalation of demand for carbonate minerals that are used in manufacturing paper.

Registering revenues of more than US$ 53 Billion in 2022, global carbonate minerals market is projected to exhibit a healthy CAGR during the forecast period of 2022 – 2029. Furthermore, carbonate minerals are used as both building materials and as an ingredient in cement. Flourishing construction industry is thus another major factor that creates positive prospects for the growth of carbonate minerals market.

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Key Takeaways – Carbonate Minerals Market Study

  • The paper industry, particularly for printing and writing paper, is found to be the largest user of carbonate minerals, which is either used as a filler or as a coating on paper.
  • The finishing characteristics of paper such as gloss, whiteness, and ink are determined by the combination of minerals used. The rise in usage of calcium carbonate in the manufacturing of paper for improving the finishing of paper is correspondingly enhancing the demand for carbonate minerals.
  • Carbonate minerals have extensive applications in the construction industry. These minerals are present in the form of components of the binding agent in aggregates, mudstones, sandstone, and coal.
  • Carbonate minerals are widely used in paints & coatings as they improve brightness and helps to improve reliability and consistency of the coating, resulting in increased demand over the forecast period.
  • Asia Pacific excluding Japan (APEJ) region is leading the carbonate minerals market by virtue of continuous growth in the building and construction industry in developing countries from this region like China and India.

While carbonate minerals market is primarily driven by demand from construction and paper & pulp industries, the preference towards using carbonate minerals in the paints & coatings is expected to increase the demand for carbonate minerals in the foreseeable future.

Carbonate Minerals Market Participant Insights

The market for carbonate minerals has remained competitive with the presence of giant players with expertise in advanced manufacturing. With the aim of sustaining their positions in the market in the long run, solidification of the supply chain in regions such as the Middle East & Africa, APEJ, and Japan will be the key strategy adopted by market participants. Furthermore, players give importance to compliance with quality standards for production, while catering to the specific demands from the end users.

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Key Companies Profiled

  • Minerals Technologies, Inc.
  • IMERYS Carbonates Llc
  • Magnesita Refractories SA
  • Maruo Calcium Co., Ltd.
  • Carmeuse
  • Calcinor Sa
  • Huber Engineered Minerals
  • Lhoist North America Inc.
  • Mississippi Lime Company
  • Great Lakes Calcium Corporation
  • Provençale SA
  • Univar Inc.
  • Omya AG

Why Demand for Carbonate Minerals is Rising in the U.S.?

The U.S. is projected to account for approximately 67.5% of the North America carbonate minerals market in 2029. In 2022, the market is expected to grow by 6.5% year-on-year, reaching a valuation of US$ 7,260.7 Million by the end of 2022.

High investments in advanced mining technologies is augmenting the sales of carbonate minerals in the country. Private construction sector is growing with significant growth rate and contributes to more than 70% share in the construction industry. Moreover, the presence of leading companies like Minerals Technologies, Inc., IMERYS Carbonates LLC, and Huber Engineered Materials is expected to bolster the growth of these minerals in the country.

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Carbonate Minerals Markey by Category

By Mineral Type:

  • Calcite
  • Magnesite
  • Aragonite
  • Smithsonite
  • Dolomite

By Source Type:

  • Natural
  • Synthetic

By End Use:

  • Food and Beverage
  • Paints and Coatings
  • Plastic and Rubber
  • Paper and Pulp

About Future Market Insights (FMI)

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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