According to Zion Market Research, The global calcium carbonate market size was worth around USD 20.1 billion in 2021 and is predicted to grow to around USD 29.8 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.8% between 2022 and 2028. The study examines the market’s drivers and restraints, as well as the effects each, will have on the demand over the forecast period. The paper also looks at international opportunities in the market for calcium carbonates.
Calcium Carbonate Market: Overview
The chemical substance known as calcium carbonate has the formula CaCO3. Natural occurrences of it include minerals and rocks like calcite, limestone, chalk, marble, and aragonite. The natural or pure form of calcium carbonate is used. From natural sources, pure calcium carbonate is extracted using a range of methods, including mining and quarrying.
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The industries that use calcium carbonate the most right now are those that produce paper, plastics, paints & varnishes, adhesives, and sealants. Additionally, nano calcium carbonate may be used for other purposes. Researchers are particularly interested in the therapeutic benefits of calcium nano-carbonate. Materials made of calcium carbonate are biocompatible and biodegradable, making them excellent choices for clever carriers of medications, enzymes, and DNA. These nanoparticles are being studied for therapeutic uses, such as the delivery of anti-cancer drugs, antibacterial agents, and genes to cancer cells. These prospective uses offer a variety of chances for the calcium carbonate industry to expand in the future.
A significant growth driver for the market is the rising demand for paper for packaging applications and hygiene-related goods like tissue paper. However, the coronavirus outbreak has decreased product demand in 2020. In the first half of 2020, the pandemic’s widespread shutdowns had a significant negative impact on the world economy. Businesses are working hard since restrictions are being relaxed in the second half. Additional force to keep working positive indications of market expansion.
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In 2021, the paints and coatings market became the second-largest application market. The paints and coatings industry uses the product in a wide range of applications. It functions as a diluent, rheology modifier, and additive to improve density, reducing or revitalizing agents, and diluents. Despite having a wide range of uses, in 2021 a production stop that affected the whole production and supply chain of the paint and coatings industry had an impact on the demand for products in this application category.