Major carbonate mineral producers investing extensively in PPE and automated mining systems to sustain regular operations during the coronavirus crisis, while mitigating health concerns for workers.
DUBAI, UAE / ACCESSWIRE / August 11, 2020 / Future Market Insights: The carbonate minerals market is anticipated to surpass a valuation of US$ 80 Bn during the period of projection between 2019 and 2029. The coronavirus pandemic has significantly impacted the carbonate minerals market. Mining operations in multiple countries have been temporarily suspended or limited. Further, uncertainties over lockdowns and potential resurgence of the contagion are likely to have an adverse impact on the short-term prospects of the carbonate minerals market.
“Carbonate minerals are have gained major interest in recent times, owing to potential applications in reversing climate change. Carbonate minerals can be used to sequester carbon dioxide in solid form in multiple industry verticals, which will generate highly lucrative opportunities in the industry,” says the FMI analyst.
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Carbonate Minerals Market – Key Takeaways
- Dolomite is gaining traction in the agriculture sector for niche applications as a soil stabilizer.
- Calcite remains an in-demand carbonate mineral owing to extensive applications in paper, plastic, and paint & coating production.
- Asia Pacific is a fast-growing market for carbonate minerals owing to recent upsurge in industrial and transport infrastructure investments from public and private bodies.
Carbonate Minerals Market – Driving Factors
- Wide ranging applications of carbonate minerals in multiple verticals including construction, paper, agriculture, coatings, feed, plastic, ceramics, and steel sustain market growth.
- Favorable government policies and investments towards infrastructure and industrial development help market players.
Carbonate Mineral Market – Key Constraints
- Environmental concerns associated with carbonate mineral mining activities holds back market growth.
- High processing and production costs for carbonate minerals limits adoption rates.
The Anticipated Impact of Coronavirus
The coronavirus pandemic has closed several carbonate mineral mines to close temporarily either owing to a shortage of workers or over health concerns of the workers. Remote monitoring, maintenance, and technical support will be critical to the functioning of the supply chain. The carbonate mineral market is likely to witness a steady resurgence towards 2021 as lockdown restrictions are relaxed, and industrial demand is back on the rise.
Explore the global carbonate minerals market report with 145 illustrative figures, 31 data tables and the table of contents. You can also find market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-309
Major manufacturers in the carbonate minerals market include but are not limited to Holding Toray Industries Inc., Mitsubishi Chemical, Solvay Group, Teijin Ltd., and SGL Carbon SE.
Manufacturers are largely displaying interest expansion of mining and production facilities to boost operations and meet growing end user demand. Research in sustainability is also gaining traction.
For example, Giga Metals has collaborated with the University of British Columbia to run a carbon dioxide sequestration program by turning silicates in mining facilities to carbonate minerals. Incoa Performance Minerals LLC has announced a US$ 110 million investment into the development of a carbonate mineral processing facility in the Gulf Coast. Northern Minerals has collaborated with Thyssekrupp Materials for a carbonate minerals pilot plant project in West Australia.
More About the Report
The FMI’s market research report offers detailed insights on carbonate minerals market. The market is scrutinized on the basis of mineral (calcite, magnesite, aragonite, smithsonite, and dolomite), source (natural and synthetic), and end use (food, paint, plastic & rubber, paper & pulp, building & construction, agriculture, and glass) across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa).
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