Calcium carbonate, also known as limestone, is an essential mineral mainly used in construction materials due to its chemical and physical properties. It has a high demand for use in cement, paints, fillers, coatings, plastics, and rubber. Calcium carbonate provides attributes like whiteness, brightness, and opacity and acts as a pigment when added to various products. The heightened construction activities across major economies, especially in Asia Pacific and Middle Eastern countries are influencing the growth of the calcium carbonate market.
The global calcium carbonate market is estimated to value at US$ 46.40 billion in 2024 and projected to exhibit a CAGR of 6.2% over the forecast period between 2024 to 2031.
Key Takeaways
Key players: Key players dominating The Global Calcium Carbonate Market include ILC Resources, Imerys, J.M. Huber Corp., LafargeHolcim, Midwest Calcium Carbonates, Mineral Technologies, Mississippi Lime, Mountain Materials, Inc., Omya, Parchem Fine & Specialty Chemicals, The National Lime & Stone Company, United States Lime & Minerals, Inc., AGSCO Corp., Carmeuse, Blue Mountain Minerals, Carmeuse Lime & Stone Company, GCCP Resources, GLC Minerals, LLC, Greer Limestone Company, and Gulshan Polyols Ltd.These companies are focusing on increasing their production capacities and geographical expansion to strengthen their global presence.
Growing demand: The surging requirement for calcium carbonate in end-use industries like construction, paints, plastics, automotive, and pharmaceutical has augmented the product demand in recent years. Government infrastructural projects in developing nations and increasing residential & commercial construction activities worldwide are fueling the market growth.
Global expansion: Leading calcium carbonate manufacturers are expanding their global footprint by establishing production facilities in emerging economies. For instance, Imerys set up a new calcium carbonate plant in India to meet the rising calcium carbonate consumption. Similarly, other players are investing in Southeast Asian, Latin American, and African markets for business expansion and tapping into new revenue streams.
Market key trends
Calcium carbonate finds extensive utilization in the production of paper. The employment of calcium carbonate as a filler in paper manufacturing enhances its physical characteristics. As paper demand continues to surge globally driven by the packaging and tissue industries, the use of calcium carbonate in paper production is anticipated to increase notably over the next few years. This will present lucrative opportunities for calcium carbonate market players.
Porter’s Analysis
Threat of new entrants: The calcium carbonate market is fairly consolidated with few large players. However, the threat of new entrants establishing themselves is relatively low due to the presence of well-established global and regional players. Further, a significant capital investment is required to set up production facilities for calcium carbonate, lowering the threat from new players.
Bargaining power of buyers: The bargaining power of buyers in the calcium carbonate industry is moderate. This is because calcium carbonate has application across major end-use industries such as paints & coatings, adhesives & sealants, plastics, among others. However, the presence of substitutes provides some bargaining power to buyers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While calcium carbonates are abundantly available as reserves, the production process requires investments and technical know-how, providing some bargaining power to suppliers.
Threat of new substitutes: The threat of substitutes is moderate. Calcium carbonate has substitutes like precipitated calcium carbonate, kaolin, and talc. However, calcium carbonate continues to be the preferred option due to its superior Performance.
Competitive rivalry: The competitive rivalry in the global calcium carbonate market is high owing to the presence of numerous global and regional players. Players compete based on product quality, consistency in supply, and pricing.
Geographical Regions : North America accounts for the largest share of the global calcium carbonate market, both in terms of value and volume. This is attributed to high demand from applications such as paints & coatings and plastics industries in the region.
Fastest Growing Region: Asia Pacific is projected to be the fastest growing region for the calcium carbonate market during the forecast period. This high growth is attributed to increasing consumption from the rapidly expanding end-use industries in emerging economies of China, India, South Korea, and Indonesia among others. Additionally, growing infrastructure and construction activities in the region are also expected to drive the demand for calcium carbonate.