Selbyville, Delaware , July 04, 2024 (GLOBE NEWSWIRE) -- Calcite Market is estimated to be valued at USD 19.4 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
Rising utilization in the construction sector, particularly in applications, such as cement and concrete production will favor the industry growth. With the growing demand for sustainable building materials, the use of calcite is gaining traction. Moreover, innovations in calcite processing and its integration into eco-friendly construction practices are ongoing to enhance durability and reduce environmental impacts. This trend will highlight the evolving significance of calcite as a versatile and essential component in modern construction techniques and materials. As per the UN, the construction industry in India is projected to reach $1.4 trillion by 2025. This growth is increasing the demand for several materials essential in construction and infrastructure development, adding to the product uptake.
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Rising preference for coated calcium carbonate
Based on type, the calcite market from the coated calcium carbonate segment is expected to experience significant acceleration between 2024 and 2032. Coated calcium carbonate derived from calcite is increasingly utilized across various industries including plastics, paints, and pharmaceuticals. This is driven by its versatility and beneficial properties, such as enhanced durability and improved product performance. Moreover, R&D efforts will continue to optimize coated calcium carbonate formulations to meet the evolving market demands for eco-friendly and high-performance materials.
Growing demand in pharmaceuticals
The pharmaceuticals segment of the calcite market is anticipated to record substantial growth from 2024 to 2032. In the pharmaceutical space, researchers are combining calcite with various compounds to explore new medical applications. They are also studying its potential benefits in drug delivery systems as it acts as a stabilizing agent in formulations. Additionally, scientists are continuing investigations for anticipating breakthroughs in therapeutic uses and manufacturing processes. The ongoing research for focusing on harnessing the properties of calcite to enhance the efficacy and safety of pharmaceutical products will drive the segment growth.
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Europe to emerge as a lucrative market
Europe calcite market is estimated to attain substantial valuation by 2032 due to increasing utilization in water treatment applications, where it helps in neutralizing acidic water and balancing pH levels effectively. Multiple researchers are exploring its potential in agricultural applications across the region for enhancing soil quality and aid in nutrient absorption. Moreover, European industries are widely integrating calcite into advanced water purification technologies to improve environmental sustainability and water quality standards. Rising attention of agricultural researchers on investigating the role in sustainable farming practices and anticipating broader applications for enhancing crop yields and soil health will add to the regional product uptake.
Calcite Market Participants
Some of the prominent calcite industry players include ASEC Company for Mining, Columbia River Carbonates, Esen Mikronize A.S, Golden Lime Public Co. Ltd., Gulshan Polyol Ltd., Imerys S. A., J. M. Huber Corporation, Jay Minerals, Minerals Technologies Inc., Longcliffe Quarries Ltd., Mississippi Lime Company, and Omya AG, among others. These market players are engaging in acquisitions and partnerships to bolster their global presence. For instance, in July 2022, Omya Inc., acquired MK Minerals' agricultural prills assets. This strategic move helped integrate calcite resources for enabling Omya to expand its offerings for agricultural applications and meet the growing market demands effectively.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
