The global calcium carbonate market size is expected to reach USD 54.6 billion by 2027 registering a CAGR of 2.8%, according to a new report by Grand View Research, Inc. Calcium carbonate is a compound that is commonly found in rocks, such as limestone and dolomite.
Paints and Coatings - Second-largest Application Segment
Paints & coatings segment was the second-largest application segment. The product is used in several applications in the paints & coatings sector; it acts as an agent for reducing or enhancing gloss, as an extender, a rheology modifier, and as an additive for increasing density. Despite the many uses, the product demand was impacted in this application segment in 2020 owing to a halt in the manufacturing operations, which disrupted the entire production & supply chain of the paints & coatings industry.
The product is extracted by quarrying or mining and is further processed to form Precipitated Calcium Carbonate (PCC) or Ground Calcium Carbonate (GCC).
The product is extensively used in various applications including paper, paints & coatings, food, health-related products, and building & construction materials. The pandemic also impacted both the production and consumption of calcium carbonate.
The global market is highly competitive owing to the presence of numerous established players in the industry that are integrated across the value chain. The competitive scenario is intense for the market as major players have reported losses during the first half of 2020. For example, Mineral Technologies reported a loss of 14.44% and Imerys reported a loss of 15.3% in their revenue for Q2 2020.
Source: GVR