PUBLISHER: Grand View Research | PRODUCT CODE: 1171055
PUBLISHER: Grand View Research | PRODUCT CODE: 1171055
The global precipitated calcium carbonate market size is expected to reach USD 23.39 billion by 2030, expanding at a CAGR of 6.6% over the forecast period, as per a new report by Grand View Research, Inc. This is attributed to the rising inclusion of the product in the automotive and pharmaceutical industries. In addition, the rise in the standard of living along with the improvement in the hygiene standard has led to the increasing usage of tissues and packaging paper. This, in turn, is likely to positively impact the demand for the precipitated calcium carbonate market in the coming years.
The pulp & paper application continues to grow at a significant rate on the account of the rising demand for precipitated calcium carbonate (PCC) due to its operational flexibility. Some factors favoring the usage of the product in the paper industry are high brightness and relatively low price, and the attainment of a porous surface of the paper sheet due to the rhombohedral particle shape. Increasing population along with rising per capita disposable income in emerging countries such as India and China are projected to drive the demand for paper products. Thus, positively influencing the growth of the market for precipitated calcium carbonate over the forecast period.
Asia Pacific is the dominant region in the market which is attributed to the increasing manufacturing activities and surging foreign investments. These are some key drivers for the growth of the precipitated calcium carbonate industry in the region. According to the World Investment Report published in 2021, the FDI inflow in Asia increased by 19% in 2021 compared with the inflow in 2020. It rose by USD 45 billion in 2021 against USD 19 billion in 2020, the highest among all regions.
Key market players are investing in the onsite manufacturing of calcium carbonate for large-scale plastics & paper industries. The organizations in the sector are focused on the development of new products with various properties to cater to industry demands. Numerous participants own limestone quarries and form a high level of value chain integration by supplying natural & unprocessed limestone, processing the raw materials according to customer's demand, and distributing the product. Some of the major companies include Imerys, Carmeuse, Minerals Technology Inc., and Mississippi Lime.