Carbonate Minerals Market Report

In the agriculture sector, carbonate minerals including anhydrous carbonates and barium carbonate are widely utilized for crop care. A common alternative used to balance soil acidity and provide calcium for plant nourishment is calcium carbonate. Calcium carbonate and dolomite are appropriate for a variety of agricultural uses, including as pH regulation, conditioners and fillers for fertilizers, and animal feed compositions. Governments utilize large expenditures on agricultural initiatives and investments since it is one of the best methods to increase environmental sustainability while also promoting agricultural productivity. The Agriculture and Food Research Initiative (AFRI), a project of the United States Department of Agriculture, aims to enhance human nutrition, assure food security, and prepare the next generation of agricultural workers.

The Canadian government gave the Canadian Federation of Agriculture (CFA) a total of US$ 560,000 in 2020 to assist them in establishing the Canadian Agri-Food Sustainability Initiative. In accordance with IBEF by 2025, Inc42 predicts that the Indian agriculture sector will grow to a value of US$ 24 Bn. The sixth-largest food and grocery market in the world is in India, where 70% of sales are made through retail. In accordance with First Advance Estimates for FY 2022–23 (Kharif alone), the nation's total output of food grains is predicted to be 149.92 Mn tonnes. The demand for carbonate minerals will rise in line with the expanding agriculture sector, driving the carbonate minerals market during the forecast period.

Carbonate is utilized in a variety of applications, including cement and plaster in building and construction, tensile strength enhancers, swimming pool aggregators, and because it uses less water and reduces cracking. The demand for fillers from the cement industry is constantly increasing. A growing number of new construction projects, particularly in BRICS nations, are being funded by the infrastructure sector's expansion, which is raising demand for carbonate minerals. The need for rural housing and the government's intense focus on infrastructure development is likely to generate a 12% YoY growth in cement output in India in FY22, according to IBEF. By FY 2027, the demand for cement in India is anticipated to reach 419.92 MT. India has extensive limestone resources of excellent quality and quantity, which offers the cement sector tremendous expansion potential.

According to Crisil Ratings, increasing investment in housing and infrastructure projects would likely cause the Indian cement sector to build 80 million tonnes (MT) of capacity by FY24, the greatest amount in the previous ten years. The requirement for more sophisticated and superior carbonate minerals will increase significantly as the building and construction industry expands. This is anticipated to stimulate demand for carbonate minerals and encourage producers to increase their output and supply of the mineral.

The COVID-19 pandemic has lowered demand for construction, vehicles, paint, and coatings, which has impacted the calcium carbonate industry. Other factors affecting the market include supply chain instability, a slowdown in raw material production, sluggish trade movement, and these factors. The demand for calcium carbonate is closely related to a number of sectors experiencing economic uncertainties, including the automobile, paper, plastics, and building and construction sectors. However, the pandemic increased demand for the carbonate minerals from the pharmaceutical and food and beverage industries. Government regulations are becoming more prevalent, which is limiting industry expansion. Although carbonate minerals have unique properties and are used in many different sectors, the market is being constrained by strict limits on the CO2 emissions they create. 

March 2021 - Huber Engineered Materials acquired the manufacturing and business assets of Nutri Granulation in March 2021 from IMCD NV, a Dutch distributor of specialist chemicals and additives. Nutri Granulation manufactures food-grade and USP calcium carbonate granules for the pharmaceutical, food, over-the-counter, and nutritional sectors.
In June 2020, Minerals Technologies and Phoenix Paper agreed to rebuild and run a 35,000-tonne-per-year satellite PCC facility in the United States in order to assist in the manufacturing of higher-value grades.

AGSCO Corp., Carmeuse, Blue Mountain Minerals, Carmeuse Lime & Stone Company, Greer Limestone Company, Gulshan Polyols Ltd., ILC Resources, Imerys,  GCCP Resources, J.M Mineral Technologies, Mississippi Lime, Mountain Materials, Inc., NALC, LLC, Omya, Parchem Fine & Specialty Chemicals, The National Lime & Stone Company, United States Lime & Minerals Inc., GLC Minerals, LLC, Huber Corp., LafargeHolcim, Midwest Calcium Carbonates are some of the prominent market players operating in the carbonate minerals market.

Asia Pacific dominated the global market and contributed more than one-third of global revenue. Due to increasing investments in the industrial and infrastructure development sectors, it is projected that the area will continue to grow at a higher single-digit CAGR.

North America was the second-largest regional market. Despite the pandemic's catastrophic effects on the area, the market's end-use industries have started operating at a lower capacity due to the increase in consumer demand. A good indicator for the industry is the increased demand for products like adhesives and paper from sectors like medical, packaging, and DIY. For instance, Huntsman Corporation bought Gabriel Performance Products (Gabriel) from Audax Private Equity in January 2021. A developer of specialized epoxy curing agents and additives for the sealants, coatings, composites, and adhesives end industries, Gabriel is a North American specialty chemical company.

In terms of revenue, the U.S. led the North American market, and it's expected that trend will hold during the forecast period. Companies are working to increase their manufacturing capabilities and increase their presence in the nation in response to the increasing demand for products in the region. For instance, Anglo Pacific Group PLC stated in March 2020 that it had entered into a financing arrangement with Incoa Performance Minerals LLC to finance the development of infrastructure related to calcium carbonate in the Dominican Republic.