VALLEY COTTAGE, N.Y. –According to Future Market Insights (FMI) study, the global carbonate minerals market is expected to reach US$80 Bn by 2029. This growth is attributed to widespread usage of carbonate minerals in the construction industry across the globe. Additionally, large-scale consumption of paper in the fast-moving consumer goods (FMCG) sector is boosting the growth of the carbonate minerals market.
“An increasing number of health hazards associated with calcium carbonate are negatively affecting growth of the carbonate minerals market. Market players are thus hard-pressed to increase their investments in new mineral solutions and innovative formulations that are in compliance with stringent environmental regulations,” says FMI analyst.
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Carbonate minerals have extensive application in the construction industry, in the form of components of binding agent in mudstones, aggregates, coal, and sandstone. Further, these minerals play an important role in the making of mortar that is used in the bricks, bonding concretes, rubber compounds, stones, and tiles. Significant growth of the construction industry is set to offer numerous opportunities for the leading players in the carbonate minerals market.
Key Takeaways – Carbonate Minerals Market Study
- Calcite accounts for relatively high share in the market as compared to smithsonite and aragonite and this trend is expected to continue through 2029. Demand for calcite will remain prominent, as it is a very common form of mineral with highly variable colors & forms. It also enhances the finishing characteristics of paper including whiteness and glossiness. Smithsonite and aragonite also continue to influence the market revenues and demand for both the products is expected to grow at a significant rate over the forecast period.
Preview Analysis Of 2019 Analysis and Review of Carbonate Minerals Market by Mineral – Calcite, Magnesite, Aragonite, Smithsonite, and Dolomite for 2019 – 2029:https://www.futuremarketinsights.com/reports/carbonate-minerals-market
- Calcium carbonate is widely popular for its light scattering and high brightness attributes, and it is used as an inexpensive filler to make bright paper opaque. In addition, the rising trend of online shopping has boosted the demand for paper in the packaging industry. This is projected to significantly contribute to the growing demand for carbonate minerals.
- Application of carbonate minerals in the agriculture and glass industries is expected to catapult at a remarkable CAGR of 6.2% during the forecast period.
- APEJ remains at the forefront of the carbonate minerals market due to an upsurge in the construction spending in developing countries such as China and India. Manufacturers are aiming to capitalize on establishing new sales and service facilities in these countries to fortify their network to capture the highest market share in the region.
The end-use industries are experiencing significant demand due to an increase in the consumption of paper, plastic, adhesives & sealants and paints & coatings, this is expected to fuel up the use for carbonate minerals in APEJ. On the other hand, North America and Western Europe are witnessing a rapid growth of the carbonate minerals market, the former is expected to take over the latter in 2024 in terms of revenue.
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