The calcium carbonate market in North America is likely to undergo a significant transformation in the foreseeable future. The primary factor influencing the industry landscape in the region is the extensive use of the product for a wide range of applications across several revenue-generating end-use verticals. Due to its high brightness, unique white pigment, and light scattering properties, calcium carbonate is vastly used as an inexpensive filler and coating pigment across plastics, paper, and paints & coating industry. In consequence, the increasing demand for wooden architects and other aesthetic products will propel the North America calcium carbonate industry forecast.
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North America has witnessed a significant rise in construction, renovation, and remodeling projects over the last few years, driven by strong economic growth, rapid urbanization, and ongoing industrial development. Calcium carbonate plays a critical role in the construction sector as a building material and an ingredient in cement. The product is used across the pharmaceutical industry as an effective dietary supplement, phosphate binder, antacid, or base material for medicinal pills.
It can als be found as an active ingredient in food products like toothpaste, baking powder, dry-mix dessert mixes, wine, and dough. Besides, the proliferating use of the compound in animal feed, water, and waste management and to meet the packaging requirements across the food and beverages industry will increase the calcium carbonate market share in North America.
As per the latest report by Global Market Insights Inc., the North America calcium carbonate market size may exceed USD 15 billion by 2027.
Explained ahead are some noteworthy trends boosting the calcium carbonate industry forecast in North America.
Strong economic growth across the U.S.
The calcium carbonate industry in the U.S. may exhibit significant growth trends due to the expansion of the construction industry in the region. This can further be attributed to the rising disposable incomes, industrial development, and escalating requirement for residential and commercial spaces.
As per Forbes, the U.S. per capita income registered a growth of nearly 13% and reached $53,504 in 2020 from $47,414 in 2015.
These optimistic scenarios, coupled with the growing awareness of personal wellbeing, increasing healthcare spending, improving healthcare infrastructure, and rapidly expanding pharmaceutical industry, will boost the North America calcium carbonate market outlook.
Increasing product demand from pharmaceutical application
Calcium carbonate is an easily available and effective dietary supplement used across several medicinal applications. The product abides by FDA mandates and is highly prescribed by medical professionals to promote the healthy development of human bones, nervous system, heart, and muscles.
The outbreak of the COVID-19 pandemic in 2020 substantially raised healthcare concerns among people and escalated the fund allotment by administrative bodies. Further, increased involvement of major industry players in several research and development projects to manufacture advanced medication and the easy accessibility and affordability of the product will help the industry gain a strong foothold.
The growing popularity of ground calcium carbonate
Ground calcium carbonate or limestone has been gaining considerable traction for the last few years. The product is used as a pigment or filler across several industries, including plastics, paper, inks, rubber, paints, coatings, cosmetics, pharmaceuticals, and construction.
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Due to its nutritional benefits, it is extensively used as an animal feed additive. Besides, its cost-effective nature and low hardness level makes it ideal to be used as an abrasive for iron, glasses, bronze, enamel, steel, and ceramics. It is imperative to state, therefore, that the widely expansive application avenues of the product will augment the sales of the North America calcium carbonate market in the years to come.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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