The global nano calcium carbonate market size is expected to reach USD 6,033.3 million by 2025, according to a new report by Grand View Research, Inc. expanding at a CAGR of 8.9% over the forecast period. Growth of construction industry is expected to be one of the key drivers for the market.
Nano calcium carbonate is used as a filler in the production of construction materials like adhesives & sealants, paints & coatings, and cement. The demand for aforementioned construction materials is triggered by the steady demand from new construction activities.
China, India, and the U.S. are likely to account for majority of the new construction projects globally. In 2018, China witnessed the construction of the maximum number of high-rise buildings as compared to any other country in the world. As per the statistics given by the Council on Tall Buildings and Urban Habitat (CTBUH), China accounted for nearly 61.5% of the construction of new high-rise buildings in 2018.
In the U.S., private house completion increased by 5.5% from April 2018 to April 2019. Thus, the growth of construction industry, especially in the above-mentioned nations, is likely to propel the demand for construction materials such as adhesives & sealants, paints & coatings, and cement, thereby, aiding the growth for nano calcium carbonate.
Nano calcium carbonate has the ability to decrease the overall volume formulation of rubber, which, in turn, reduces the cost of the final product. In addition, rubber manufactured using nano calcium carbonate offers good anti-bending capability, smooth surface, high tension resistance strength, and high anti-avulsion strength. Ascending demand for the product from rubber industry as an effective and cheap substitute to carbon black is expected to drive the industry over the forecast period.
The multinational companies are focusing on expansion and development of the product. In 2018, Minerals Technologies, Inc. developed a nano calcium carbonate product for automotive and construction applications. In addition, between 2017 to 2019, it has collaborated with various companies in India, China, and Malaysia to increase the production capacity of precipitated calcium carbonate for application in paper industry.
The nano calcium carbonate market is characterized by the presence of several small and medium-sized enterprises (SMEs) as well as multinational conglomerates. A majority of the SMEs including Shenyang Talc Chemical Co., Ltd. and Jiangsu XFNANO Materials Tech Co., Ltd are located in China and mostly cater to the regional market of South East Asia.
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Further key findings from the report suggest:
· In terms of revenue, plastics segment is anticipated to reach USD 2,210.5 million by 2025. The growth of plastics segment is attributed to the increasing demand from construction and packaging industries in China, India, and the U.S.
· Plastics application dominated the global industry with a revenue share of 34.2% in 2018
· In terms of revenue, building & construction segment is likely to observe a CAGR of 9.1% from 2019 to 2025. Developing countries such as India, Malaysia, Indonesia, and others are expected to drive the segment growth.
· Asia Pacific is anticipated to observe a highest growth rate of 9.4% in terms of revenue from 2019 to 2025
· North America is projected to witness a significant growth rate of 8.7%, in terms of revenue, over the forecast period. The steady growth in the construction activities in the U.S. is likely to positively influence the product demand
· The key companies are looking for expansion through inorganic growth strategies. For instance, in December 2017, Imerys acquired Micron-Ita Indústria e Comércio de Minerais Ltda. The acquired company is engaged in production of micronized ground calcium carbonate for polymer applications.
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Grand View Research has segmented the global nano calcium carbonate market report on the basis of application and region
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