The global nano calcium carbonate market is expected to reach USD 9.65 billion by 2024, according to a new report by Grand View Research, Inc. Rising demand for nano calcium carbonate owing to increasing product usage in the end use industries including inks and pharmaceuticals on account of its superior dispersion properties is expected to drive the demand over the forecast period.
Rising trend of people moving to urban centers in emerging regions including Asia Pacific and the Middle East is expected to drive the market over the next eight years. Surging application scope in the paper industry pertaining to increasing usage of the product in paper processing is expected to drive the demand over the next eight years.
Growing technological shift of paper industry from acid to alkaline-based process is expected to fuel the market over the forecast period. Building & construction accounted for over 25% of the market in terms of revenue in 2015.
The growth is accounted by increasing use of the product in building materials such as sealants and adhesives to improve the thermal expansion & resistance and improved workability. This, in turn, is likely to drive the market demand over the next eight years.
Further key findings from the report suggest:
- The global nano calcium carbonate market demand in terms of volume was around 19 million tons in 2015 and is expected to cross 40 million tons by 2024, recording a CAGR of 8.7% from 2016 to 2024.
- Plastics is expected to be the fastest growing application segment registering a CAGR of around 9% from 2016 to 2024 accounting for over 20% of total market volume in 2015. Growing product demand in the plastics industry on account of its improved stability, easy processing, wear resistance and low-cost availability is likely to fuel the demand over the next eight years.
- Rubber industry is expected to register a CAGR of over 8.3% from 2016 to 2024. Growing application scope of nano calcium carbonate in rubber processing industry on account of its ability to improve the toughness, hardness, and wear resistance of acrylonitrile-butadiene-styrene (ABS) rubber is likely to fuel the growth over the forecast period.
- Others segment include applications in automotive, inks and pharmaceuticals. This segment is expected to grow at a CAGR of 8.9% from 2016 to 2024. Growing use of adhesives and sealants in the automotive industry to join various metal and material substrates in the vehicle body fabrication coupled with rising R&D activities to improve the overall vehicle performance is likely to drive the demand for nano calcium carbonate in the automotive industry over the forecast period.
- Asia Pacific accounted for a significant market share of over 40% in 2015. Cost effective manufacturing owing to cheaper raw material availability and indigenous production is expected to drive the growth. The region is also projected to witness a CAGR of 8.4% over the forecast period.
- The industry is moderately fragmented with the presence of a large number of prominent market participants across the globe. Some leading companies operating in the global market include Specialty Minerals Inc., Imerys Performance Minerals, Omya, Enping Yueyi Chemistry Industry Co.,Ltd, Fujian Sanmu Nano Calcium Carbonate Co.,Ltd, and Mittal Enterprises (ShengdaTech, Inc.). Yuncheng Chemical Industrial Co., Ltd. has been specializing in manufacturing nanometer colloidal calcium carbonate, precipitated calcium carbonate as well as basic magnesium carbonate and gymnastic chalk & powder. In 2013, the company ended the strategic alliance with Jia Dah Chemical Industrial Co., Ltd. and started to market and distribute calcium carbonate directly to its customers.