The global carbonate market is projected to have a moderate-paced CAGR of 7.2% during the forecast period. The current valuation of the market is US$ 4.02 Billion in 2022. The market value of the carbonate market is anticipated to reach a high of US$ 8.06 Billion by the year 2032. A historical market valuation of US$ 3.75 Billion has been recorded by the experts of Future Market Insights for the concerned market during the base year.
| Report Attribute | Details |
|---|---|
| Carbonate Market Value (2022) | US$ 4.02 Billion |
| Carbonate Market Anticipated Value (2032) | US$ 8.06 Billion |
| Carbonate Market Projected Growth Rate (2022 to 2032) | 7.2% |
The carbonate market is witnessing an unprecedented surge in recent years owing to its solubility and polarity, which makes it suitable for a diverse range of applications like electrolytes in lithium batteries, as fiber processing agents, a capacitor electrolyte, soil hardening agents, and lubricants. FMI has analyzed that carbonates are also heavy usage as organic solvents and in medical products. Due to their unique properties, they are getting used as a basic raw material during organic synthesis.
While analyzing the market in-depth, the experts have identified that the rise in sustainability concerns and versatility of glycerol carbonates is estimated to enhance the demand for the product as it is being highly used for valorizing waste glycerol. In addition to that, several research and development activities are being carried out to expand the use of carbonate in the industrial sectors.
Moreover, the surging demand for carbonates can also be attributed to the increasing need for paper from packaging applications and hygiene-related products like tissue paper, which is estimated to stir up the market dynamics for carbonates in the forthcoming years. Carbonates are increasingly dissolved in paints & coatings, adhesives, and sealants and are therefore propelling at a faster rate through 2022 with the growing implementation across construction industries in emerging economies.
Economies are identified to put in extra efforts for adhering to the regulations while manufacturing the products. Due to the rise in the automotive industry, sales are anticipated to go up, and the demand for paints and coatings for vehicles is also going to upscale, which is expected to augment the growth of the carbonate market.
The carbonate market is identified to be highly competitive, with various key players having integration across the value chain with their presence in mining operations, application sectors, and processing facilities. The carbonate manufacturers are indulging in mergers and acquisitions along with undertaking key strategic initiatives for sustaining their leadership and market share. They are entering into collaborations and partnerships with other prominent players prevailing in the market. R&D activities are being carried out with new innovations for strengthening the foothold in the market.
FMI has analyzed that the competitive scenario is turning out to be quite intense post-2021, as several companies are increasing their architectural coatings and paint manufacturing capacity that is open to more extensive distribution facilities. Therefore, it is anticipated that the carbonate market is likely to witness significant growth through the forecast period.
Some of the key manufacturers in the carbonate market are Franklin Minerals, Huber Engineering Materials, Imerys S.A., Omya Group, Excalibar Minerals LLC, Mississippi Lime Company, Solvay S.A., Schaefar Kalk GmbH & Co. KG among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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Carbonate Market
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