Calcite Market Poised for Remarkable Growth, Projected to Reach US$ 20.22 billion by 2033

Calcite is a versatile mineral known for its widespread presence and multiple applications. Comprising calcium carbonate, it forms in various crystal shapes and colors, often appearing in sedimentary rock formations. Calcite is crucial in industries like construction, where it's used as a building material, and in agriculture as a soil conditioner. Its optical properties also make it valuable in optical instruments and as a component in paints. In nature, calcite crystals can exhibit remarkable double refraction properties, adding to their scientific significance.

As per Future Market Insights, the value of the global calcite market size in 2022 was US$ 10.76 billion. The increasing demand for plastic and paper packaging is anticipated to be the main factor driving the growth of the calcite industry. This has produced an anticipated amount of US$ 20.22 billion by 2033, with a CAGR of 5.9% from 2023 to 2033.

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The paper sector has seen a huge increase in demand for calcite. Both precipitated calcium carbonate (PCC), as well as ground calcium carbonate (GCC), are gaining popularity for the manufacture of paper. PCC is still the preferred material for making paper due to the operational flexibility it provides. The paper industry has improved printing surfaces and brighter sheets as a result of the introduction of PCC. The calcite market is anticipated to increase at a faster rate because of the increasing demand for PCC and GCC in the paper sector.

During the projection period of 2023 to 2033, demand for calcite is anticipated to rise due to calcite's advantageous chemical characteristics, cost-effectiveness, and advancements in the manufacture of polymers and plastics. In more contemporary buildings, calcite is utilized to create cement and concrete in the forms of marble as well as limestone.

Marbles are used to display beauty in a variety of patterns and hues. In the future years, the rising demand for marble flooring, bathroom countertops, and kitchen tabletops will generate favorable growth prospects for the calcite industry. Venture finance and private equity firms have made significant investments in India's building sector. It is projected that throughout the projection time, CAGR would significantly increase.

Key Takeaways from the Market Study

- Sales of calcite increased at a CAGR of 4.8% between 2018 and 2022.
- The market is likely to be dominated by the ground calcium carbonate (GCC) segment, which is projected to have a 65% market share in 2022.
- With a CAGR of 5.5% from 2023 to 2033, the fine-size category dominates its market share in end-use applications.
- North America continued to be one of the most lucrative and lucrative markets throughout the duration of the projection period, holding a dominant share of 67% in the worldwide market for calcite in 2022.

"It is anticipated that the demand for calcite will fuel rising consumer demand for high-end, technologically sophisticated goods. Calcite's excellent hardness and strength have led to a surge in its use in building and renovation projects, which has helped the calcite market expand," remarks an FMI analyst.

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Competitive Landscape

The calcite market has a fair amount of rivalry. Strong research and development efforts are given a lot of attention. In order to meet the needs of a growing client base, businesses in the calcite market seek to strategically collaborate with end users and local distributors.

Prominent players in the calcite market are:

Imerys S. A.
Omya AG
M. Huber Corporation
Minerals Technologies Inc.
Gulshan Polyol Ltd.
ASEC Company for Mining
Esen Mikronize A.S
Wolkem India Ltd.
Shandong CITIC Calcium Industry Co.,Ltd.
Columbia River Carbonates
Jay Minerals
Golden Lime Public Co.
Longcliffe Quarries Ltd.
Vietnam CMT Joint Stock Company
Mississippi Lime Company

Some key developments of the leading companies in this market are:

- In September 2022, Omya and IFG established a strategic R&D partnership to research calcium carbonate incorporation into fibers. At IFG's Fibers Research Center in Linz, Austria, the two businesses will work together to research innovative fiber products, their performance, characteristics, and applications.
- Minerals Technologies Inc. stated in May 2020 that it has reached an agreement with Satia Industries Limited in Punjab District, India, to establish a 42,000 metric tonne precipitated calcium carbonate (PCC) facility at their paper mill.

Key Segments Profiled in the Global Calcite Market

By Type:

Ground Calcium Carbonate (GCC)
Precipitated Calcium Carbonate (PCC)

By Size:

Fine
Coarse

By Application:

Paper & Pulp
Polymer & plastic
Paints & Coatings
Cement
Adhesives & Sealants
Agriculture
Other

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

More Valuable Insights Available

Future Market Insights offers an unbiased analysis of the global calcite market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the calcite market , the market is segmented on the basis of calcite type (ground calcium carbonate (gcc), precipitated calcium carbonate (PCC)), size (fine, coarse), application (paper & pulp, polymer & plastic, paints & coatings, other) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.