Carbonate Minerals Market

Carbonate Minerals Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Carbonate Minerals Market grew at a CAGR of 4.6 % between 2017-2021 and is estimated to be US$ 59,463.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.3% and is expected to reach a valuation of US$ 99,662.4 Mn by 2032 end.

Throughout the projected period, the market is anticipated. Sales of carbonate minerals will continue to be driven by rising demand for the minerals in the food, building, paper and pulp, and other end-use industries, as well as from the paints and coatings industry.

Market Dynamic

GROWING DEMAND FROM THE CONSTRUCTION INDUSTRY WILL BOOST THE MARKET FOR CARBONATE MINERALS

The building and construction industry is one of the fastest growing industries in the world, owing to high urbanization and the rising per capita income of individuals. Carbonate minerals such as calcite, dolomite, and gypsum are extensively used as components of binding agents in aggregates and sandstone in building materials. North American and European building construction are also estimated to increase because of increasing government projects in the US and German economies. Also, The cumulative demand for carbonate minerals from the building and construction industry and the escalating building and construction industry is a driver for the carbonate minerals market.

DIFFICULTIES IN TRANSPORT HAMPER THE MARKET GROWTH

To ensure a high standard of calcium carbonate production, companies must have their manufacturing site. Over time, the same location became too crowded and cumbersome for the process, leading to increased equipment costs, ultimately increasing the cost of goods more substantially. In addition to decreased productivity as personnel is spent on moving raw materials and products to other locations, the cost of transporting these raw materials is increasing.

GROWING GOVERNMENT INITIATION IN AGRICULTURE PROJECTS WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

The world is currently facing issues of food safety. The Food and Agriculture Organization (FAO) reported that 40% of children in developing countries suffer from micronutrient deficiencies. Calcium carbonate is used as an amendment to neutralize soil acidity and supply calcium for plant nutrition. Calcium carbonate or dolomite can be used for various agricultural applications, including pH control, fertilizer conditioners, and fillers, animal feed formulations.

COVID-19 Impact

Due to the COVID-19 outbreak, the end-users are facing issues such as delays in receiving raw materials, resulting in delayed shipments to the customer due to the restriction on the import and export of produce. Also, the quality of some raw materials has declined considerably. In addition, the import and export restrictions are heavily affecting the carbonate minerals market growth since all building and construction activities are stopped until COVID-19 has been declared free from the pandemic.

Market Segments Covered in Report

By Mineral:

• Magnesite
• Hydromagnesite
• Nesquehonite

By End-use:

• Pharmaceuticals & Personal Care
• Refractory Bricks & Kilns
• Steel & Metallurgy
• Ceramics
• Building & Flooring Materials
• Chemicals
  • Plastics
  • Fertilizers
  • Flame Retardant Additives
  • Adhesives & Sealants
  • Paints
  • High Purity Magnesia

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is Magnesite projected to ensure the most revenue during the forecast period?

Magnesite or magnesium carbonate is the most preferred magnesium carbonate mineral among end users. It is utilized in producing magnesium oxide as a refractory material in steel and cement industries. Around 80% of magnesium chemicals are derived from Magnesite. Besides this, the surging application of Magnesite in the pharmaceutical, paper & pulp, paints, and coating industries will fuel the growth in the segment. Further, growing use of Magnesite as an anti-misting agent and filler in the production of paints.

Why is the pharmaceutical & Personal Care Sector segment expected to expand the fastest during the forecast period?

In 2021, In terms of end use, the pharmaceutical and personal care segment was expected to register substantial growth over the forecast period. The increasing consumption of Magnesite in cosmetic products as absorbent underpins development in this segment. Besides this, Magnesite is extensively used by pharmaceutical companies as a filler for tablets and antacids. This, in turn, is aiding the growth of the magnesium carbonate minerals market.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the North American market held a sizeable revenue share of 28.7%. The market demand for magnesium carbonate minerals is increasing exponentially in the USA because of the flourishing chemical industry in the country. The rising use of these minerals in the metallurgic sector as refractory material and adhesives, paints and sealants, paper & pulp, and paint & coating industries will further boost the demand. Moreover, increasing magnesium carbonate powder bulk in steel and cement industries has further boosted sales.
• In 2021, Asia Pacific, including India, South Korea, and Japan, held the largest share, with 38.0% of the market. This region accounted for 26.0% of all primary production value. As a result of the growing construction industry in Asia Pacific, a large number of material is being used to produce buildings and other structures.

Competition Analysis

The rising demand for magnesium-based electrolytes has boosted the global market for magnesium carbonate minerals. Leading players in the worldwide magnesium carbonate minerals market are strategically expanding their market presence through acquisitions and product expansion. They are also adopting inorganic growth strategies such as research and development, expansion of production capacity, and establishment of new facilities.

Some of the key developments that have taken place in the Carbonate Minerals Market include:

• In March 2021, The Netherlands-based distributor of specialized chemicals and ingredients, IMCD N.V., announced the acquisition of Nutri Granulations’ assets and business by Huber Engineered Materials, a division of J.M. Huber Corporation.
• In May 2020, A contract between Minerals Technologies and Satia Industries Limited was struck to build a 42,000 metric tonne per year satellite PCC plant in India. The plant is slated to start up in the second quarter of 2021.

A list of some of the key suppliers present in the market are:

• Konoshima Chemical Co., Ltd.
• Naikai Salt Industries Co., LTD
• Hebei Meishen Technology Co. Ltd.
• Kyowa Chemical Industry Co. Ltd.
• Yingkou Magnesite Chemical
• SCORA S.A.S.
• Lehmann & Voss & Co. KG
• Paul Lohmann GmbH KG
• NUOVA SIMA Srl
• Buschle & Lepper S.A.
• Grecian Magnesite
• Persia Paya Madan
• Others

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.