According to a new report, published by KBV research, The Global Carbonate Market size is expected to reach $6.4 billion by 2030, rising at a market growth of 6.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,830.2 Kilo Tonnes, experiencing a growth of 5.5% (2019-2022).
The Catalysts segment is anticipated to have a CAGR of 7.8% during (2023 - 2030). They provide a stable matrix for the active catalytic species, facilitating reactions in which the catalyst and reactants are in different phases. Additionally, carbonate-containing supports can contribute to the stability of the catalyst. The carbonate matrix may help maintain the structural integrity of the catalytic species, enhancing the durability and lifespan of the catalyst.
The Paints & Coatings segments is leading the Global Carbonate Market by End Use in 2022 thereby, achieving a market value of $1.6 billion by 2030. Carbonates, such as calcium carbonate, are commonly used as fillers and extenders in paint formulations. They enhance volume, improve opacity, and contribute to the mechanical properties of coatings, reducing the need for more expensive pigments. The addition of carbonates can influence the rheological properties of paint formulations, enhancing their viscosity and flow characteristics. This contributes to better application properties, ease of spreading, and improved coverage during coating.
The Ethylene segment is experiencing a CAGR of 7.7% during (2023 - 2030). The primary use of ethylene is as a raw material for the production of polyethylene, one of the most widely used plastics globally. The growing demand for plastics in various industries, including packaging, is a major driver for increased ethylene demand. Ethylene is a crucial component in the production of various packaging materials, including films, bottles, and containers. The rising demand for packaged goods is propelling the growth of the ethylene segment.
Full Report: https://www.kbvresearch.com/carbonate-market/
The Asia Pacific region dominated the Global Carbonate Market by Region in 2022 thereby, achieving a market value of $2.7 billion by 2030, growing at a CAGR of 7.3 % during the forecast period. The North America region is experiencing a CAGR of 6.2% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 6.5% during (2023 - 2030).
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By End Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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