LONDON, March 27, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5360496
The global calcium carbonate market size is expected to be valued at USD 34.28 billion by 2025, according to a new report by Grand View Research, Inc., registering a 5.7% CAGR during the forecast period. Apart from being used in the construction, paper, and plastic industries, calcium carbonate also finds application as a dietary supplement, an additive for PVC, and in metalloids and minerals.
Demand for calcium carbonate from the paper industry has witnessed a significant rise in recent years, signifying an increase in paper production, and this trend is likely to continue over the upcoming years as well. While precipitated calcium carbonate (PCC) and ground calcium carbonate are both used for the production of paper, the former remains the favored material owing to the operational flexibility it renders.
Asia Pacific is estimated to be the fastest and largest growing market for calcium carbonate on a global level, backed by rapid growth of the paper and plastics industries. Demand in the region is likely to be propelled by factors such as rise in paper production, establishment of new paper mills, and increase in mineral loadings of paper to cut down pulp usage.
Establishment of on-site production facilities, especially for supplying high-quality PCC to paper mills, is a key strategy adopted by leading market participants.Product development is also of prime importance in the industry.
Notable players in the industry include Mineral Technologies Inc.; Omya; Parchem Specialty & Fine Chemicals; and Imerys Pigments.
Further key findings from the study suggest:
• The global calcium carbonate demand was 113.7 million tons in 2016 and is expected to reach 180.1 million tons by 2025, at an estimated CAGR of 5.3% from 2017 to 2025
• The paper industry accounted for approximately 50% of the global calcium carbonate demand in 2016 and the trend is expected to continue over the forecast period
• The paints and coatings segment is expected to register a CAGR of 5.9% in terms of revenue over the forecast period
• Displacement of resin permits significant cost savings on raw materials by replacing about 40% of plastic with calcium carbonate
• Asia Pacific dominates the global demand. It also accounted for the leading revenue share of 36.9% in 2016. The region is also expected to witness fastest growth over the forecast period.
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