In terms of value, the global Calcite Market size
is estimated to be USD 10.1 billion in 2019
and projected to reach USD 13.0 billion by 2024, growing at a CAGR of 5.2% from
2019 to 2024. Increasing demand from the paper
& plastics applications for calcite, coupled with easy availability and
cost-effectiveness, are expected to drive
the growth of the market during the forecast period. Additionally, the growing
paper industry in the Asia Pacific region, especially in China, is expected to
fuel the growth of the market.
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Based on type,
the market has been classified into ground calcium carbonate and precipitated
calcium carbonate. In terms of value, ground calcium carbonate is expected to account for the largest share of
the calcite market during the forecast period. This growth is attributed to its increasing consumption in the
paper, plastics, and other applications, coupled with the cost-effectiveness of
GCC as filler material compared to PCC.
Based
on application, the calcite market has been
classified into paper, paints & coatings, construction, plastics,
adhesives & sealants, and others. Others include pharmaceuticals,
agriculture, and glass. In terms of value, the paper application accounted for the
largest share in 2018 and is projected to
grow at a moderate pace during the forecast period. The demand for calcite in
the paper application is driven by its
ability to enhance the printability, whiteness, and brightness & opacity of
the paper.
Based
on geography, the market is segregated
into five regions, namely North America, Europe, Asia Pacific, Middle East
& Africa, and South Africa. In terms of value, the Asia Pacific accounted
for the largest share of the market in 2018,
and is projected to grow at the highest
CAGR during the forecast period. The large market size is attributed to expansions in the manufacture of calcite and high
demand from the plastics and paper industries in China, Japan, and India, among
others. Moreover, cheap labor, easy availability of raw material, and other factors fuel the growth of the market in the
region.
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Major companies operating in the calcite
industry include Imerys S.A. (France), Omya AG (Switzerland), Minerals Technologies Inc.
(US), Huber Engineered Materials (US), and Gulshan Polyols Ltd. (India). These
companies account for a major share of the market.
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