Selbyville, Delaware, Oct. 13, 2021 (GLOBE NEWSWIRE) -- According to the latest research report by Global Market Insights Inc., the North America Calcium Carbonate Market was estimated at $9.5 billion in 2020 and is slated to exceed USD 15.5 billion by 2027, registering a CAGR of 7.5% from 2021 to 2027. The report delivers a detailed assessment of market size & estimations, drivers & opportunities, competitive scenario, wavering market trends, top winning strategies, and major investment pockets.
Calcium carbonate refers to a mineral typically used in the paper, plastics, and paint & coatings industries as a coating pigment and a filler. Due to its white color, the compound is utilized in the paper industry to give high brightness as well as light-scattering features to the final product. It also finds applications as a coating agent in plastics, wherein it can help extend the shelf life and reduce the final costs of polymers. Calcium carbonate has an excellent toughening effect on polymers and is filled in wood-plastic composites. As a result, several advantages of calcium carbonate in the manufacturing of different products are expected to drive the growth of the North America calcium carbonate market over the forecast period.
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Precipitated calcium carbonate is used extensively in dietary supplements and pharmaceuticals, which is likely to drive its demand over the following years. The precipitated calcium carbon type segment garnered a sizable revenue in 2020 and is projected to showcase considerable growth at approximately 8.0% CAGR through the study timeline.
Key reasons for North America calcium carbonate market growth:
- Soaring utilization in polymer manufacturing.
- Increasing usage in dietary supplements.
- Rising adoption in the paper & pulp industry.
- Surging product uptake in paint & coatings applications.
- Growing use as a filler in adhesives and sealants.
2027 forecasts show ‘animal feed’ retaining its dominance:
With respect to end-use, the animal feed segment is speculated to reach a valuation of around USD 420 million by 2027, progressing at a steady CAGR over the analysis period. Calcium carbonate, when used as a feed additive in animal nutrition, enhances the overall health of the animal. Notably, rising adoption of natural feed additives by feed manufacturers is set to propel the growth of the calcium carbonate market segment in the upcoming years. Moreover, the growing population in the region is boosting the growth of the meat industry, thereby bolstering the demand for feed additives. Soaring investments towards the meat and dairy sectors are also helping meat producers improve their output.
Canada to maintain top status in terms of revenue:
Based on country, the Canada calcium carbonate market was worth over USD 1.5 billion in 2020 and is calculated to observe notable expansion through the review period. The Canadian construction sector has seen massive growth in the past decade on account of mounting immigrations in the nation. With the burgeoning population, there has been an upsurge in commercial and residential building & infrastructure projects, viz., schools, roads, colleges, malls, hospitals, and so forth, which has increased the usage of adhesives and sealants, thereby improving product uptake. Additionally, growing geriatric population has impelled the requirement for calcium tablets & capsules, especially since these tablets relieve joint pain and do not have any side effects. Consequently, these factors are speculated to support product adoption in the country over the forecast timeline.
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Impact of COVID-19 pandemic on North America calcium carbonate market:
Following the COVID-19 outbreak, researchers and academicians focused on finding effective solutions to reduce the adverse impact of the infection. To that effect, a May 2020 study published in Gastroenterology found that supplementing calcium, such as with oral calcium carbonate, and albumin to keep their levels at normal values during the early stages of the COVID-19 infection could reduce the risk of severe illness and death. Subsequently, the growing prominence of calcium carbonate as a dietary supplement for lowering the mortality from the coronavirus disease has played a vital role in North America calcium carbonate market growth during the pandemic.
Some key companies in the North America calcium carbonate industry include Omya AG, Imerys, Mississippi Lime Company, Minerals Technologies Inc., and Newpark Resources, among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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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, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
