The global precipitated calcium carbonate market size was valued at USD 11.71 billion in 2023. The market is expected to expand from USD 11.82 billion in 2024 to USD 17.31 billion by 2032, exhibiting a CAGR of 4.9% over the study period.
Precipitated Calcium Carbonate (PCC) is a versatile chemical compound created through the reaction of calcium hydroxide and carbon dioxide. The growing demand for the product from several sectors for different applications is poised to bolster the market expansion.
Precipitated Calcium Carbonate (PCC) is a synthetically processed form of calcium carbonate produced by calcining limestone, resulting in finely ground and ultra-pure calcium carbonate crystals. PCC has become a versatile material, finding applications across various industries, including paper, plastics, pharmaceuticals, construction, paints and coatings, and personal care products. The global market for PCC has experienced significant growth due to its wide applicability, coupled with increasing demand for environmentally friendly and high-performance materials.
Fortune Business Insights™ provides this information in its research report, titled “Precipitated Calcium Carbonate Market, 2024-2032”.
List of Key Players Mentioned in the Report:
Mineral Technologies (U.S.)
Imerys S.A. (France)
Mississippi Lime (U.S.)
M. Huber Corporation (U.S.)
ILC Resources (U.S.)
Omya International AG (Switzerland)
CANADA Chemical (Canada)
GLC Minerals (U.S.)
Segmentation:
Common Deployment of Industrial Grade in the Rubber Industry to Foster Segment Expansion
In terms of type, the market is bifurcated into industrial grade and pharmaceutical grade. The industrial grade segment secured the largest share in 2023. The common utilization of industrial grade in industries, including paints & coatings, rubber, construction materials, adhesives, plastics, and paper manufacturing, is augmenting the segment growth.
Paper Segment Led Due to Ability of Product to Enhance Paper Attributes
With respect to application, the market is classified into adhesives & sealants, inks, paints & coatings, plastics, paper, pharmaceuticals, rubber, and others. The paper segment occupied the largest precipitated calcium carbonate market share in 2023. The product can improve paper attributes as a filler by boosting bulkiness, brightness, and opacity, enhancing uniformity and printing quality. This factor is propelling the paper segment expansion.
From the regional perspective, the market is categorized into Asia Pacific, Latin America, the Middle East & Africa, North America, and Europe.
Report Coverage
The research report offers a comprehensive coverage of the key driving and restraining factors affecting the market growth. In addition, it offers vital insights into the COVID-19 pandemic impact, the latest trends, and notable industry developments. Other aspects of the report include the strategic measures taken by top companies to stand out from the competition.
1. Sustainability and Eco-friendly Solutions
The shift towards more sustainable and environmentally friendly products is influencing the PCC market. Many companies are focusing on developing PCC production methods that are less energy-intensive and reduce carbon emissions. In addition, the trend towards using renewable materials in packaging and construction is increasing the demand for PCC as a substitute for traditional materials.
2. Technological Advancements in PCC Production
Technological improvements in the production of PCC, particularly through the use of carbon capture and storage (CCS) technologies, are helping to reduce the environmental footprint of PCC manufacturing. These innovations are expected to lower production costs and improve the quality of PCC, making it more attractive to various industries.
3. Rising Demand in Emerging Markets
Emerging economies in Asia-Pacific, such as China, India, and Southeast Asian countries, are witnessing rapid industrial growth and urbanization. This is leading to increased demand for paper, plastics, construction materials, and pharmaceuticals, driving the demand for PCC in these regions. The rising middle class in these countries is also boosting the consumption of personal care and consumer products, further fueling market growth.
Information Source: https://www.fortunebusinessinsights.com/precipitated-calcium-carbonate-market-105287
Drivers and Restraints:
Inclination Toward Green Production Methods to Impel Market Growth
The market is witnessing the growing adoption of green production methods to reduce environmental impact throughout the manufacturing process. In addition, closed-loop water systems are being used by players to reduce the consumption of water and discharge wastewater while encouraging environmental sustainability and efficient resource deployment. Thus, these factors are boosting the precipitated calcium carbonate market growth.
However, the fluctuations in the price of raw materials may hinder market expansion for precipitated calcium carbonate.
Regional Insights:
Asia Pacific Leads in the Global Market Due to Surging Consumer Goods Production
In 2023, Asia Pacific was valued at USD 6.42 billion in 2023 and holds the dominating position in the market. This can be credited to the rising production of industrial products, automotive components, and consumer goods, which is slated to bolster the product demand in manufacturing processes.
North America market for precipitated calcium carbonate is anticipated to observe significant growth in the coming years. The expansion of the pharmaceutical industry owing to rising healthcare expenditure and an aging population is escalating the regional growth.
Competitive Landscape:
Leading Companies Emphasize Agreements to Expand Their Product Line
The precipitated calcium carbonate market is witnessing the implementation of many competitive strategies, such as product innovations, capacity expansions, and mergers and acquisitions to strengthen their position. Many companies are also focusing on entering agreements for the expansion of their product lines.
Key Industry Development:
April 2023: Minerals Technologies Inc. unveiled three long-term PCC supply agreements. This move is poised to broaden the company’s specialty additives product line in India and China.