CARBONATE MARKET ANALYSIS

Carbonate MarketSize and Trends

The global carbonate market size is expected to witness a substantial rise in the coming future, and register a significant CAGR over the forecast period (2019 - 2027).

Market Overview

Carbonates are diester derivatives of carbonic acid or carbon dioxide, formed through condensation with hydroxyl compounds. The inorganic carbonates are salts of carbonic acid containing carbonate ions, as well as ions of metals such as calcium or sodium. Inorganic carbonates are key constituents in dolomites and limestone, and also consist of hard parts of marine invertebrates. The most common types of carbonates that have industrial applications are potassium carbonate (K2CO3), iron carbonate (Fe2CO3), calcium carbonate (CaCO3), and sodium carbonate (Na2CO3). These carbonates are widely used in end use industries such as dyes and pigments, paints and coatings, food manufacturing, paper and pulp, detergents and cleaners, adhesives and sealants, and glass and ceramics among others.

Market Dynamics

The demand for carbonates is driven by industrial applications such as ceramics, detergents, smelting, and cement among several others. Moreover, increasing demand for calcium carbonates from the paper and pulp industry are propelling growth of the market. Rapidly expanding sectors such as building and construction and automotive are also expected to facilitate demand for carbonates over the forecast period. Demand for sodium carbonates from the chemical industry has increased in the past few years, specifically in processes such as water treatment, desulfurization of flue gas, coal treatment, and brine treatment. Strict regulations centered which require dechlorination of wastewater have increased demand for sodium carbonates. Utilization of calcium carbonate as a source of calcium in agricultural lime and animal feed is expected to benefit demand for the carbonates market in general. Furthermore, calcium carbonate is in huge demand in the construction industry as fixing material for arrange of products such as ceramics, concrete, paving, renders and so on.