The global carbonate minerals market is expected to reach USD 82.15 billion by 2028, at a CAGR of 8.28% from 2021 to 2028.

NEWARK, UNITED STATES, NEW JERSEY, November 2, 2021 /EINPresswire.com/ -- As per the report published by The Brainy Insights, the global carbonate minerals market is expected to reach USD 82.15 billion by 2028, at a CAGR of 8.28% from 2021 to 2028. The Asia-Pacific region emerged as the largest market for the carbonate minerals market with a market value of USD 13.92 Billion in 2020. The upsurge in construction spending is boosting the market growth in China, and India, continuous innovations in the mining technology in Japan are also grabbing huge stakeholders’ attention. The developing economies in the Asia Pacific region are focusing on the development of the infrastructure, which includes buildings, bridges, dams, road etc. So there is a big opportunity for the carbonate mineral market in the forecasting years in the region. Also, with rising disposable income in emerging economies, the property prices are also increasing. North America represents the fastest-growing carbonate minerals market owing to the growing consumer demand for organic carbonate minerals in the region.

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Key players operating in the market include Mineral Technologies, IMERYS Carbonates, Magnesita Refractories, Maruo Calcium, Carmeuse, Calcinor, Huber Engineered Materials, Lhoist North America, Mississippi Lime Company, and Great Lakes Calcium Corporation among others.

The minerals segment is divided into calcite, magnesite, aragonite, smithsonite and dolomite. The calcite segment held the highest market value of USD 16.48 Billion in 2020. This is due to its properties to improves the finishing characteristics of paper, including whiteness and gloss. Both calcite and smithsonite will continue to influence market revenues, but the calcite will grow twice of smithsonite in terms of value. The Source segment includes natural and synthetic. The natural segment accounts for 80.45% of the market share in 2020. However, the demand for synthetic carbonate minerals is going to increase in the forecasting period owing to the large scale consumption of paper in the FMCG sector.

The End User segment includes food, paint, plastic & rubber, paper & pulp, building & construction, agriculture and glass. The paper & pulp industry will remain the key consumer of carbonate minerals, where they are used as fillers or coatings on paper. As the end-user paper & pulp industry accounts for around 25.18% share of total consumption, market players should view it as their target customers. There is an immense utilization of carbonate minerals as components of binding agents in construction aggregates, and sandstone, the building & construction sector, this is also attracting high capital investment from manufacturers.

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The increasing number of government regulations are hampering the market growth. Though carbonate minerals have specific characteristics and have applications in various industries, however stringent regulations on CO2 emissions caused by carbonate minerals are acting as a restraint for the market.

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