Asia Pacific Emerging as Prominent Region in Growing Carbonate Market
SWOT Analysis
Strengths: Wide applications in various industries such as paper, paints & coatings, plastics make it a viable option. It is a natural mineral giving it an ecological advantage over synthetic products.
Weaknesses: High production and transportation costs. Quantity and quality of deposits varies highly across regions.
Opportunities: Growing construction activities in developing nations provide new opportunities. Use of calcined products in water treatment presents avenues.
Threats: Stringent mining regulations can restrict production. Substitute products pose competition.
Key Takeaways
The Global Carbonate Market Size is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing consumption in end-use industries. The market size for 2020 was US$ 3.5 billion.
Regional analysis: Asia Pacific region dominated the market and is expected to grow at fastest pace owing to rapid industrialization and construction activities in China and India. China has abundant deposits and accounts for over 50% of global production.
Key players analysis: Key players operating in the carbonate market include Omya Group, Huber Engineering Materials, Franklin Minerals, and Imerys S.Apresence among several others. Omya Group is a leading global producer of industrial minerals headquartered in Switzerland. Huber Engineered Materials is a major supplier of natural mineral products based in the United States.
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