Carbonate demand has expanded significantly in many end-use sectors around the world, creating a large development opportunity in this global carbonate market.
Covid-19 Impact & Market Status:
Because of its reliance on the cosmetics and personal care, paints and coatings, textile, and polymer industries, the carbonate market has been moderately damaged by the COVID-19 pandemic. The beauty industry includes sub-categories such as skin care, colour cosmetics, hair care, fragrance, and personal care. Hand sanitizers and cleaning agents are becoming the principal products of major cosmetics and personal care companies. Furthermore, they are providing free beauty services to frontline response personnel which has received great feedback from the beauty industry throughout the COVID outbreak. Beauty items are mostly sold in stores, accounting for 85 percent of all sales prior to the COVID-19 epidemic. This aspect is expected to drive worldwide carbonate market expansion in the face of the COVID-19 pandemic.
This elaborate report on the global carbonate market is designed to showcase the impact of various ongoing market-relevant developments that pose a direct bearing on the growth trajectory. The changes in the dynamics, the priorities of the market players, and the opportunity windows unleashing across regions are suggesting time-appropriate measures to ensure a strong footing. Various stakeholders of the carbonate market such as policy-makers, manufacturers, retailers, the supply fraternity etc. comprise the core readership of this report. Hence, the report is designed with zealous professionalism by in-house research experts, adhering to global research standards. The impact of the pandemic on the financial landscape has been highlighted besides including a country-specific scenario to tap new growth locales in the carbonate market.
APAC Experienced Highest M&A Activity in 2021
During the projection period, the Asia-Pacific carbonate market is expected to grow at the fastest rate of 8.0 percent, accounting for 42.6 percent of global carbonate market share in 2020. Propylene carbonate is primarily used in the paint industry for the manufacture of paint strippers. The coating business in Asia-Pacific is being driven by rapid technical development and an increase in demand for environmentally friendly coating materials.
Expansion across end-user industries such as construction, automotive, and electronics, likely to maneuver growth in the carbonate market.
From 2021 to 2030, the global carbonate market is expected to rise at a CAGR of 7.2 percent, from $3.5 billion in 2020 to $7.1 billion in 2030.
Carbonate market growth is expected to be fueled by rising demand for the carbonate salt from the paper & pulp sector, automobiles, and adhesives. Diverse needs in the end-user industry landscape is expected to single-handedly lure growth.
Carbonates are carbonic acid salts that contain both carbonate and polyatomic ions. There are two forms of organic carbonates: linear and cyclic. Carbonates such as dimethyl, propylene, ethylene, glycerol, and styrene are utilised in applications such as solvents, catalysts, and cleaners.
Propylene carbonate is used as a raw material in manufacturing organic solvents, medical products, personal care, and cosmetic products. It can also be employed as a fundamental raw material in organic synthesis operations, as well as in organic solvents and medical products. Concerns about glycerol carbonates' sustainability and adaptability have boosted demand for the product, which is used to valorize waste glycerol.
On the other hand, one of the major factors that may limit the market's growth is severe regulatory laws regarding the establishment of limestone quarries. Over the projection period, increased health concerns about various types of chemicals are expected to limit the market growth. Furthermore, because these quarries are located on the outskirts of towns or cities, the cost of the finished product will rise, reducing manufacturers' revenues.
Furthermore, the glass industry's increasing requirement for carbonate salts to make various types of glass is expected to drive up demand for carbonate salts. The carbonate market is fueled by the high demand for carbonate salts. This forms a key ingredient across consumer products such as cleansers, dyes, pigments, and chemicals that are used extensively across industries.
The major market players of Global Carbonate Market are Imerys S.A., Omya Group, Mississippi Lime Company, KG, Excalibar Minerals LLC, and Solvay S.A, Huber Engineering Materials, Franklin Minerals, and Schaefar Kalk among others.
Major Developments in Global Carbonate Market:
- In June 2018, Omya AG introduced Omyaskin, a new generation of recrystallized mineral particles for ornamental cosmetic applications. This chemical is utilised in cosmetic pigments to help improve the end product's effectiveness.
- Imerys purchased three production locations from EDK in November 2019. (a leading Brazilian producer of GCC). The purchase was made to help the former extend its reach in South America and increase its product offering for paints and coatings applications
Carbonate Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 7.1 billion|
|Growth Rate||CAGR of 7.2 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Imerys S.A., Omya Group, Mississippi Lime Company, KG, Excalibar Minerals LLC, and Solvay S.A, Huber Engineering Materials, Franklin Minerals, and Schaefar Kalk among others.|
Key Segments of the Global Carbonate Market
Type Overview, 2019-2029 (USD Billion)
- Calcium Carbonate
- Sodium Carbonate
Application Overview, 2019-2029 (USD Billion)
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa