Market Insight-Global Carbonate Market Overview 2022
The Global Carbonate Market Size was estimated at USD 26780 million in 2021 and is projected to reach USD 30550 million by 2028, exhibiting a CAGR of 2.22% during the forecast period– Bossonresearch.com
Carbonates are salts of carbonic acids that are characterized by the presence of carbonate ions and polyatomic ions. Organic carbonates are mainly of two types such as linear and cyclic. Dimethyl, propylene, ethylene, glycerol, and styrene are types of carbonates that are used in applications such as solvents, catalysts, and cleaners.
The polarity and solubility of ethylene carbonate make it suitable to be used for applications such as electrolytes in lithium batteries, capacitor electrolytes, fiber processing agents, lubricants, and soil hardening agents. In addition, it can also be used in organic solvents, medical products, and as a basic raw material during organic synthesis reactions. The rise in concerns about sustainability and versatility of glycerol carbonates has enhanced demand for the product as it is used to valorize waste glycerol. In addition, several research and development activities have been carried out to expand the use of glycerol carbonate in industrial sectors. Glycerol carbonate constitutes hydroxyl group and 2-oxo-1,3-dioxolane, which enhances reactivity, making it suitable to be used in polymer and solvent applications. In addition, it can also be used in end-use sectors such as surfactant, cosmetics, and construction. All these factors collectively surge the demand for carbonate, thereby augmenting the global carbonate market growth.
According to Bosson Research, the Global Carbonate Market Size was estimated at USD 26780 million in 2021 and is projected to reach USD 30550 million by 2028, exhibiting a CAGR of 2.22% during the forecast period.
Figure Global Carbonate Market Size
Source: Bossonresearch.com, 2022
Segment Market Analysis by Type
Based on type, Calcium carbonate is the largest market segment,Calcium carbonate is a critical raw material for paper and plastics. The demand for paper is increasing in APAC as digital transformation is relatively slow. The economic growth witnessed in the developing countries of APAC has led to an increase in the use of paper packaging. China, India, and South Asian countries are the largest consumers of paper in the region. Moreover, the growth of the e-commerce industry in India and China has led to an increase in the demand for corrugated packaging solutions. Paper packaging is also used in industries such as food, healthcare, education & stationery, and personal care. All these factors are increasing the demand for paper in the region.
The plastic industry in APAC is also growing at a fast rate. The region is witnessing a high demand for plastics for various applications in packaging, automotive, construction, electrical & electronics, and other industries. The increasing use of plastics in these industries for multiple purposes, such as decreasing costs in packaging and construction industries, reducing weight in automotive parts, and as an insulator in electronic products, is driving the demand for calcium carbonate in APAC.
Key players in the Carbonate Market include:
Solvay
Church & Dwight
Natural Soda
Yuanxing
Tosoh
AGC
Yuhua
Tata
Qingdao Soda Ash
Shandong Haihua Group
Lianyungang Soda Ash
ETİSODA
Jinshan Group
Tangshan Sanyou
China Salt
Zhejiang Dayang
SQM
Albemarle
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