iCrowdNewswire Jan 15, 2021 12:00 PM ET
Calcium carbonate is made up of an open nylon filament web to which abrasive grain is bonded. It exhibits many advantageous properties such as greater resilience, comfort, resistance to water, and non-rusting anility, which driving its use in portable grinding, sanding and finishing operations. Abrasives are used extensively in a wide variety of industrial, domestic, and technological applications. Common uses for abrasives include grinding, polishing, buffing, honing, cutting, drilling, sharpening, smoothening, lapping, and sanding of the substrate. Calcium carbonate is primarily used for cleaning and finishing the metal. It plays a major role to give surface finish and shape to the required material. The global abrasives market is growing at higher CAGR of nearly 6.5% during the review period, which is expected to fuel demand for the product. The global transportation industry is the largest consumer of calcium carbonate, as of 2016 and is estimated grow at the highest CAGR on account of ever-increasing trade around the world during the forecast period. Increasing demand for an electronic device with an advent of digitization and handset penetration. In addition to this, electrical industry is fetching significant share of overall demand for the product to help push the growth of the market forward.
The global calcium carbonate market is segmented on the basis of type, application, and region.
On the basis of the type, the market is divided into natural ground calcium carbonate, precipitated calcium carbonate, and activated calcium carbonate. The natural ground calcium carbonate is easily found terrestrially a principal constituent of the limestone, marble rock, and chalk, while both precipitated and activated calcium carbonate are industrially produced. Among them, the precipitated calcium carbonate segment is projected to grow at a healthy growth rate. This is attributed to increasing demand for this product in the paper industry on account of the features it confers to the paper such as enhanced gloss and brightness, and the better printing surface.
Based on the applications, the global calcium carbonate market is categorized into building & construction, paper, healthcare, paints & coatings, plastics, adhesives & sealants, and others. Building & construction is the largest consumer of calcium carbonate, wherein the product is used as building material, cement ingredient, and precursor in manufacturing builders lime. The major factors responsible for the growth of this segment are the rapid urbanization and growing industrialization of emerging economies, increasing government spending on infrastructural development of the countries around the globe. Moreover, construction activities are constantly heading north on account of increasing need for better infrastructure and shelter to the rapidly growing population, which may witness growth in demand for calcium carbonate during the review period.
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Asia Pacific, Europe, North America, Europe, the Middle East & Africa, and Latin America are the five key regions in which the global calcium carbonate market is divided. Among these regions, the Asia Pacific market is growing at the highest CAGR in the global calcium carbonate market. The region accounts for over 40% share of the overall calcium carbonate market. India, South Korea, and China are the leading markets in this region due to growing demand for the product by emerging end-use industries in this region such as building & construction, paper, and paints & coatings. North America is the second largest region, in terms of market size, with the U.S. holding a major share of the regional market. The growth of the market in this region is attributed to the growing paper industry and reconstruction activities in this region, along with flourishing consumer goods industry. Following North America, Europe is a significant region, in the global calcium carbonate market. Germany, the U.K., France, and Italy are the contributors to the regional market. The Middle East & Africa is projected to grow at a considerable CAGR owing to the increasing construction activities and forthcoming major sports events in this region during the review period. Lastly, the Latin American market is anticipated to gain momentum to join hands with leading regions in the global calcium carbonate market.
The key players in the global calcium carbonate market are Imerys Pigments (U.S.), Parchem Fine & Specialty Chemicals (U.S.), Omya (Switzerland), GLC Minerals, LLC (U.S.), Midwest Calcium Carbonates, LLC (U.S.), AGSCO Corp (U.S.), J.M. Huber Corporation (U.S.), Cerne Calcium Company (U.S.), Kerford Limestone Company (U.S.), and The National Lime & Stone Company (U.S.).
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