Press Release
The global calcium carbonate market size is expected to reach USD 54.6 billion by 2027 registering a CAGR of 2.8%, according to a new report by Grand View Research, Inc.
The COVID-19 pandemic impacted both the production and consumption of calcium carbonate. The enforcement of lockdown across major cities has disrupted the mining, manufacturing, and supply chain activities across the globe, causing a decline in product demand. However, the demand is high in the healthcare market and related industries, mainly in the paper industry due to rising concerns regarding personal hygiene, which is boosting the demand for tissue papers.
For PDF sample Copy or More Details please visit link @: https://www.grandviewresearch.com/industry-analysis/calcium-carbonate-market
The paper application segment accounted for the largest market share of over 47% in 2019 and is expected to grow at a steady rate during the forecast period. Growing concerns regarding sustainability and hygiene are the major growth drivers for the paper industry.
Plastics are widely used in the medical industry in various applications, such as disposable medical devices, surgical gloves, IV tubes, and other tools. These are one-time-use products and their demand has increased during the pandemic. Asia Pacific was the largest regional market in 2019 and is anticipated to retain its dominance over the forecast period. Government initiatives for the development of the manufacturing sector by offering incentives and inviting FDIs are expected to benefit market growth.
The global market is highly competitive owing to the presence of numerous established players in the industry that are integrated across the value chain. The competitive scenario is intense for the market as major players have reported losses during the first half of 2020. For example, Mineral Technologies reported a loss of 14.44% and Imerys reported a loss of 15.3% in their revenue for Q2 2020.
Calcium Carbonate Market Report Highlights
- Asia Pacific accounted for the largest revenue share in 2019 and is expected to grow further on account of rising focus on the development of the manufacturing sector in the region
- Paper was the largest application segment in 2019 and accounted for a volume share of more than 50%
- The growth of this application segment is attributed to the high demand for paper from the packaging and healthcare industries
- Plastics is expected to register the second-fastest CAGR of 3.7% from 2020 to 2027, in terms of revenue, on account of its rising demand from the medical sector
- The Middle East & Africa is anticipated to register a significant CAGR during the forecast period on account of rapid growth in the construction industry that is propelling cement production in the region
To request research report sample copy with TOC please visit @: Global Calcium Carbonate Market Size Report, 2020-2027 (grandviewresearch.com)
