The carbonated mineral market is anticipated to be valued at USD 60.07 billion in 2024 and registering a CAGR of 5.90% from 2024 to 2034.
The market is foreseen to reach USD 106.56 billion by 2034. Carbonate minerals, renowned for their transparency, solubility, and high specific gravity, are widespread in industries like paper, plastics, paints, and coatings, thereby constructing a novel consumer base.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 60.07 billion |
| Market Value for 2034 | USD 106.56 billion |
| Market Forecast CAGR for 2024 to 2034 | 5.90% |
Demand has historically developed at a CAGR of 4.50%. However, sales are set to advance at a trivial pace, displaying a CAGR of 5.90% from 2024 to 2034.
| Attributes | Details |
|---|---|
| Market Historical CAGR for 2019 to 2023 | 4.50% |
Carbonated minerals, used in industries like cement and construction, contribute to CO2 emissions, causing the greenhouse effect. However, strict regulations stymie demand due to their unique characteristics.
Carbonates are widely used in paints and coatings due to their cost-effectiveness, consistency, and reliability. This development creates novel opportunities and fosters the desire to continue using them in the forthcoming decade.
An economic slowdown could decrease production and demand in industries like construction and cement. This reduction in demand for carbonated minerals poses a significant challenge for the market.
The Paper Sector Snowballs the Demand for Carbonated Mineral
One of the many roles of calcium carbonate in the paper industry is as a substitute for kaolin. Its brighter, whiter appearance and improved opacity and gloss make it a versatile alternative. Additionally, its high brightness, surface finishing, and enhanced printability contribute to improving the quality of the final product.
Medical and Pharmaceutical Infrastructure Widespread Calcium Supplements
Rise in Electrical Vehicles Adaption to Fuel the Sales of Magnesium Carbonate Mineral
Electric vehicle production and sales are increasing globally. This is leading auto-makers to opt for magnesium batteries due to their higher capacity, developing a need for these minerals.
The following part offers an in-depth segment-wise analysis of the carbonate mineral market. The demand for naturally sourced mineral is significant, whereas the need from the paper and pulp industry is anticipated to increase in 2024.
| Attributes | Details |
|---|---|
| Top Source Type | Natural |
| Market share in 2024 | 80.0% |
In 2024, naturally sourced minerals, such as carbonates found in marbles, chalk, and limestone, are envisioned to account for 80.0% of the entire market share. For instance, calcium carbonate, or calcite, is a common carbonated mineral found in rocks, water, animals, and plants and is abundant in nature.
Dolomite, a naturally occurring mineral from dolomite rock, and aragonite, a calcium carbonate polymorph, make up over 4% of the Earth's crust. Carbonated minerals, derived from natural sources, are predicted to be favored by end users due to their long-standing use and potential to boost sales in the forthcoming decade.
| Attributes | Details |
|---|---|
| Top End Use | Paper and Pulp |
| Market share in 2024 | 24.4% |
The demand from the paper and pulp sector is bolstered, with a market share of 24.4% in 2024. The paper and pulp industry utilizes ground calcium carbonate and other carbonate minerals for various purposes, including coating, filling, and adhesion, to produce high-quality paper.
Carbonate minerals are also used in pulp processing, specialty applications, as well as industrial water treatment during paper and pulp manufacturing. Precipitated calcium carbonate is used in paper production to reduce pulp consumption and enhance paper quality, with its diverse applications aiming to boost future sales.
Based on the statistical data, industries in Germany and Japan are set to develop at a relatively similar rate in the upcoming decade. Simultaneously, the carbonate mineral industries in the United States and China are set to hit the roof. India’s carbonate mineral sector is anticipated to climb sharply in the upcoming decade.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| United States | 3.30% |
| Germany | 2.70% |
| China | 6.60% |
| India | 8.70% |
| Japan | 2.50% |
The United States is anticipated to hold a CAGR of 3.3% from 2024 to 2034 in the carbonate mineral market. The country is witnessing a surge in carbonated mineral sales due to investments in advanced mining technologies. These technologies have enabled the extraction of minerals with greater efficiency, increasing their availability in the market.
The private construction sector in the United States is experiencing a significant growth rate, accounting for over 70% of the industry. This is compelled by the demand for residential and commercial properties.
To add to this growth, leading companies such as Mineral Technologies, Inc., IMERYS Carbonates LLC, and Huber Engineered Materials are anticipated to play a pivotal role in bolstering the sales of carbonate minerals in the United States. With their expertise and resources, they are well-positioned to meet the demand for these minerals and contribute to the industry's growth.
Germany is foreseen to offer immense growth prospects for the carbonate mineral market and is anticipated to register a 2.7% CAGR by 2034. The growth of Germany's carbonated mineral industry is envisioned to be fueled by significant investments in the construction sector and its diverse applications in agriculture, animal feed, and glass ceramics.
The German Economic Institute reports a 4.3% increase in EU construction industry investments, with Germany, France, the United Kingdom, Italy, and Spain accounting for over 65% of total assets. The residential sector saw 51% of Germany's investment, indicating a growing demand for carbonated minerals.
China is on the brink of a significant market expansion in carbonated minerals for construction, with a projected CAGR of 6.6% from 2024 to 2034. China's demand outlook is bolstered by strong growth in end-use industries, particularly paints, coatings, paper, and pulp, which is anticipated to compel demand growth.
China is destined to remain a significant global producer of carbonated minerals. This is due to considerable mining activities, advanced growth in the construction and infrastructure sectors, and private investments in construction. These factors are foreseen to boost market development in the country.
Japan is set to experience a 2.5% CAGR trajectory in the carbonate mineral market due to road and bridge construction focusing on the improvement of materials.
Japan's government prioritizes renovating public infrastructure and road development to improve connectivity, compelling growth in the building and construction sector. Japan’s key players' profit-bearing growth strategies and product innovations are anticipated to boost sales of carbonated minerals during the assessment period.
The demand for carbonated minerals in India is foreseen to experience a CAGR of 8.7% from 2024 to 2034. The consumption of carbonated elements for producing cement and agrochemicals is anticipated to develop extensively in India. India's infrastructure development efforts, particularly in cement production, are boosting its carbonated mineral industry, a significant sector in its rapidly growing economy.
India's population growth and rapidly shrinking agricultural land create a high demand for agrochemicals and fertilizers aimed at improving land yield. This emphasis potentially propels the demand for carbonated minerals in the country.
The market is encountering a competitive landscape with established and new players vying for market share. This competition is driving innovation and the development of advanced mining technologies that could transform the industry.
The market is participating in a ripple in demand due to their use in construction, agriculture, pharmaceuticals, and energy. This is prompting leading players to invest heavily in mining technology to extract high-quality carbonated minerals.
Market leaders utilize strategic mergers and acquisitions to boost their domestic market reach and cater to a larger customer base. They are leveraging their expertise to enhance production capabilities and provide diverse minerals to meet evolving end-user needs.
Global start-ups are leveraging innovative technologies to extract efficiently and process carbonates. Hence they are increasing production capacities and improving output quality, thereby recognizing the immense potential of this market in the mining industry.
Recent Developments in the Carbonate Mineral Market
The market is valued at US$ 60.07 billion in 2024.
The market is going to be valued at US$ 106.56 billion by 2034.
In the United States, demand for carbonated minerals is anticipated to develop a CAGR of 3.3% through 2034.
The market is to register a CAGR of 5.90% from 2024 to 2034.
Naturally sourced minerals are anticipated to acquire an 80.0% market share in 2024.
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Carbonate Mineral Market
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