Calcium Magnesium Carbonate Market - Forecast(2023 - 2028)

Calcium Magnesium Carbonate Market Overview

The Calcium Magnesium Carbonate Market size is projected to reach a value of US$3.1 billion by the end of 2027 after growing at a CAGR of 4.2% during the forecast period 2022-2027. Calcium magnesium carbonate (also known as dolomite limestone or ankerite) is a mineral composed of around 60% calcium carbonate and 40% magnesium carbonate that commonly forms in small clusters of rhombohedron-shaped crystals. It is used in a wide range of industries such as construction, paints & coating, medical, metallurgy, rubber and other industries. The expansion of calcium magnesium carbonate is primarily driven by its usage in the construction industry. In 2020, the surge in the COVID-19 pandemic negatively impacted construction activities as a result of the country-wise shutdown of construction sites, shortage of labor and the decline of the supply and demand chain all across the world, thus, temporarily affecting the growth of the global calcium magnesium carbonate industry. However, a steady recovery in new development and construction contracts has been witnessed across many countries around the world since 2021, which in turn, is driving the demand for calcium magnesium carbonate. For instance, according to recent insights from the World Cement, the global construction industry output increased by 5.7% in 2021. An increase in construction activities along with the surging demand from the rubber industry is expected to drive the growth of the Calcium Magnesium Carbonate Market size in the upcoming years. On the other hand, health hazards associated with the use of calcium magnesium carbonate may confine the growth of the market.

Calcium Magnesium Carbonate Market Report Coverage

The "Calcium Magnesium Carbonate Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Calcium Magnesium Carbonate Market.

Key Takeaways

• Powder form held the largest share in Calcium Magnesium Carbonate Market in 2021. Its wide range of characteristics, along with ease of storage and transportation made it stand out in comparison to other forms of calcium magnesium carbonate available in the market.
• The construction industry in Calcium Magnesium Carbonate Market held a significant share in 2021, owing to the increasing demand for calcium magnesium carbonate from the construction sector across the world.
• Asia-Pacific dominated the Calcium Magnesium Carbonate Market in 2021, owing to its increasing demand from the construction sector of the region. For instance, in October 2021, the MoC (Ministry of Construction) of Vietnam proposed around 266 residential housing projects across the country which are scheduled to be completed from 2022 to 2025.
• A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Calcium Magnesium Carbonate Market Report.

Figure: Calcium Magnesium Carbonate Market Revenue Share, By Geography, 2021 (%)

Calcium Magnesium Carbonate Market Segment Analysis – by Form

Powder form held a significant Calcium Magnesium Carbonate Market share of over 18% in 2021, owing to the range of characteristics and benefits it offers over other forms of calcium magnesium carbonate. For instance, calcium magnesium carbonate in powder form has better physicochemical stability along with higher surface hardness and density in comparison to other forms of calcium magnesium carbonate. This makes them ideal for use in applications involving the production of construction materials which include asphalt and concrete mixes, ceramics, iron & steel manufacturing and more. Moreover, calcium magnesium carbonate in powder form offers higher flexibility in compounding solids, longer shelf life and is easier to store and transport. Furthermore, the manufacturing of powder form is more economical and cost-effective. Hence, all of these benefits of powder form are driving its demand over other forms of calcium magnesium carbonate, which in turn, is expected to boost the growth of the market during the forecast period.

Calcium Magnesium Carbonate Market Segment Analysis – by End-use Industry

The construction industry held the largest Calcium Magnesium Carbonate Market share of over 25% in 2021, owing to the increase in construction activities across the world. For instance, in October 2021, the Ministry of Construction of Vietnam proposed VND 30 trillion (US$1.3 billion) credit package to build low-cost residential homes for workers. Likewise, another 278 building construction projects including 276,000 units with a total area of 13.8 million square meters are currently under development in Vietnam. All of these projects are scheduled to begin in 2022 and be completed by the end of 2025. Furthermore, recent insights from Construct Connect state that the U.S. government has funded around US$20 billion for the construction of a real estate and development project called One Central project in Chicago. The project is under the schematic design phase and currently undergoing construction in 2022.

Calcium magnesium carbonate (also known as dolomite limestone or ankerite) that commonly forms in small clusters of rhombohedron-shaped crystals are primarily used in the construction industry for the manufacturing of construction materials such as cement, asphalt, concrete mixes, bricks, adhesives & sealants and more, owing to its higher strength, surface hardness and density. They are also used in the production of ceramics that are further utilized in floor tiles, roof tiles, wall tiles, tableware, cookware and other similar applications of a building. Thus, such surging developments in the construction sector across the world are expected to increase the demand for calcium magnesium carbonate, owing to its above-mentioned usage. This is expected to expand the Calcium Magnesium Carbonate Market size during the forecast period.

Calcium Magnesium Carbonate Market Segment Analysis – by Geography

Asia-Pacific held a dominant Calcium Magnesium Carbonate Market share of over 30% in the year 2021. The consumption of calcium and magnesium carbonate is particularly high in this region due to its increasing demand from the construction sector. For instance, in August 2021, the construction of the airport terminal commenced in Rajkot, India. The airport will cover an area of 1,032 hectares, while its new terminals will be capable of handling 1,300 passengers at a time. The new airport is scheduled to be operational in 2023. Moreover, recent insights from Invest India state that there are around 115 future construction projects that are currently under the planning phase in India in 2022. The total investment in these construction projects is around US$11.63 million. It includes the construction of hotels, shopping complexes, office buildings and more. Furthermore, the government of China approved 695 building and construction projects with a total investment of 3 trillion yuan (US$471 billion) in January 2022.

In this way, an increase in such new building and construction projects in multiple countries across the region is expected to increase the demand for calcium magnesium carbonate for the manufacturing of construction materials such as cement, asphalt, concrete mixes, bricks, adhesives & sealants, ceramics and more. This is anticipated to propel the growth of the market during the forecast period.

Calcium Magnesium Carbonate Market Drivers

An increase in construction activities

Construction activities are considered to be the pillar of growth for a country and also play a major role in increasing the overall global economy. The factors such as urbanization and the rapid pace of development to aid the economic growth of the countries are driving the construction activities in multiple regions across the world. For instance, according to Volvo CE, the construction sector saw an increase in construction activities across multiple regions since the fourth quarter of 2020. South America saw an increase of 12%, Asia by 39%, Europe by 20% and China by 28% in 2020. Furthermore, YIT Corporation commenced the construction of numerous residential apartment building projects in Finland, the CEE countries and Russia in December 2021, with total investments of around EUR 200 million (US$236.5 million). The projects are scheduled to be completed by the end of 2023.

The properties of calcium magnesium carbonate such as good enduring resistance, higher strength, surface hardness and density make it ideal for use in the manufacturing of construction materials such as cement, asphalt, concrete mixes, bricks, adhesives & sealants, ceramics and more. Hence, an increase in global construction activities is expected to increase the demand for calcium magnesium carbonate, owing to its above-mentioned properties. This is anticipated to drive the growth of the market in the upcoming years.

Surging demand from the rubber industry

Calcium magnesium carbonate (also known as dolomite limestone or ankerite) that commonly forms in small clusters of rhombohedron shaped crystals is primarily in the rubber industry during its production in order to increase the volume of the rubber while improving the processability of the rubber. It is also used as a semi-reinforcement or reinforcement in order to adjust the hardness or softness of the manufactured rubber. For instance, according to the Gulf Petrochemicals and Chemicals Association (GPCA), the synthetic rubber industry is expected to grow by 5.5% by the end of 2022. It further states that the demand for synthetic rubber from industrial and consumer applications is expected to remain high in 2022. In 2019, the government of India launched its National Rubber (NR) Policy 2019, which aims at meeting the demand for 2 million tons of rubber production by 2030. Furthermore, recent insights from the European Tyre & Rubber Manufacturers Association (ETRMA) states that the major countries that produced synthetic rubber in 2020 were China with a share of 22%, followed by Europe with 14% and the USA with 13% respectively. In this way, such surging production from the rubber industry is expected to increase the demand for calcium magnesium carbonate, owing to its above-mentioned usage. This is expected to accelerate the growth of the Calcium Magnesium Carbonate Market in the upcoming years.

Calcium Magnesium Carbonate Market Challenges

Health hazards associated with the use of calcium magnesium carbonate may confine the market growth

Calcium magnesium carbonate is considered hazardous under EU Regulation (EC) No 1272/2008 and OSHA Hazard Communication Standard (29 CFR 1910.1200). According to OSHA, the legally permissible workplace exposure limit of calcium magnesium carbonate is 5mg/m3 (respirable fraction) over an 8-hour work shift. Prolonged exposure to calcium magnesium carbonate is known to cause severe skin burns and serious eye damage. Furthermore, in case of inhalation, it can be extremely destructive to the mucous membrane tissues and can also cause severe damage to the upper respiratory tract. In case of ingestion, it can cause acute toxicity in the body. In addition to this, severe cough, headache, nausea and shortness of breath are some of the common symptoms associated with prolonged exposure to calcium magnesium carbonate. Furthermore, it is considered to be hazardous to the aquatic environment as well and can cause long-term effects on aquatic life. Thus, such health hazards associated with the use of calcium magnesium carbonate may confine the growth of the global calcium magnesium carbonate industry during the forecast period.

Calcium Magnesium Carbonate Industry Outlook

Technology launches, acquisitions and increased R&D activities are key strategies adopted by players in the Calcium Magnesium Carbonate Market. The top companies in Calcium Magnesium Carbonate Market are:

1. Lhoist Group
2. Imerys
3. Liuhe Mining
4. Omya Group
5. Sibelco
6. Specialty Minerals
7. Cemex
8. Nordkalk
9. Beihai Group
10. E. Dillon and Company

Relevant Reports

Carbonate Minerals Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code: AGR 0353

Magnesite Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code: CMR 79231

Water Remineralization Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code: CMR 1058

For more Chemicals and Materials Market reports, please click here