The calcite market is expected to witness a CAGR of over 5%, globally, during the forecast period. The growing demand for the paper and plastics packaging industry and the increasing demand from the building and construction industry are driving the market studied. Moreover, unfavorable conditions, arising due to the COVID-19 outbreak, are hindering the market growth.
- The building and construction industry is expected to dominate the global calcite market, over the forecast period.
- Asia-Pacific represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries, such as China, India, and Japan.
Key Market Trends
Growing Demand for the Building and Construction Industry
- Calcite mineral is widely used in building and construction, and it is expected to be the fastest-growing market, during the forecast period.
- Calcite is abundantly available, primarily as limestone and in metamorphic form as marble. Calcite is formed in the earth’s crust, due to both chemical precipitation of calcium carbonate and from the transformation of shells, coral, and algal debris into calcite.
- In modern construction, calcite in the form of limestone is used to produce cement and concrete. Marbles impart beauty to the home, which is available in a variety of colors and patterns. The increasing demand for marbles in flooring, kitchen tabletops, and bathroom countertops are expected to drive market growth. They are used in commercial, as well as in residential buildings.
- The construction industry in the United States continued to expand in the future, owing to a strong economy and positive market fundamentals for commercial real estate, along with an increase in federal and state funding, for public works and institutional buildings.
- Furthermore, the construction industry in India has received a major boost by the investment of USD 1.4 billion, through private equity and venture capital investments, during October 2019.
- The growing need for infrastructure development in emerging economies is expected to drive the calcite market, during the forecast period.
Asia-Pacific to Dominate the Market Studied
- Asia-Pacific is expected to dominate the calcite market, during the forecast period, due to the rapid increase in demand from countries, like China and India.
- Calcite as grounded calcium carbonate is mainly used as a filler for papermaking due to its high brightness, light scattering characteristics, abundant availability, and low cost, as compared to kaolin.
- The growing demand for paper packaging and tissue products in countries, like China and India, is expected to drive the market.
- Apart from paper, growing infrastructure demands are expected to contribute to the growth of the calcite market. The Indian government has allocated USD 63 billion for the infrastructure sector in 2019-2020, and it is planning to spend USD 1.4 trillion over the next five years.
- Moreover, according to the National Development and Reform Commission of China, the Chinese government approved 26 infrastructure projects at an estimated investment of about USD 142 billion in 2019, which are expected to be completed by 2023.
- Therefore, the aforementioned factors, coupled with government support, are contributing to the increasing demand for the calcite market in Asia-Pacific, during the forecast period.
The global calcite market is partially fragmented, with players accounting for a marginal share of the market studied. Few companies in the market include Mineral Technologies Inc., Nordkalk Corporation, AKJ Minchem Pvt. Ltd, Imerys SA, and Omya AG, among others.
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