by The Carbonate Market is estimated to be valued at US$ 3.5 Billion in 2020 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Carbonate refers to various salts and esters of carbonic acid. Calcium carbonate, sodium carbonate and potassium carbonate are some of the most common types of carbonates used across various end-use industries. Carbonates are widely used as pH regulators, leavening agents, flavors and as an acidity controller in food & beverage products. They also find applications in water treatment, fire extinguishers, solvents and in manufacturing of glass, cement and ceramic. The versatility and wide range of applications of carbonates have fueled their demand globally.
Market key trends:
The global carbonate market is primarily driven by its rising demand from the food & beverage industry. Carbonates like calcium carbonate, potassium carbonate and sodium carbonate are important ingredients used in the production of beverages, bakery products and processed foods. They are used as acidity regulators and leavening agents to control textures and rise activities. The growing consumption of packaged and processed food worldwide has significantly contributed to the increased uptake of carbonates. Furthermore, rising health-consciousness has boosted the demand for low-acid beverages like sodas which in turn is propelling the carbonate market growth. Sodium carbonate also finds extensive application in water treatment plants as a pH stabilizer and solubilizer. The growing urbanization and rising investment in water infrastructure development are fueling the demand for sodium carbonate.
Global Carbonate Market Is Estimated To Witness High Growth Owing To Increased Usage Of Carbonates In Food & Beverage Industry And Growing Construction Industry
The carbonate market is estimated to be valued at US$ 3.8 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Carbonates refer to a class of compounds containing the carbonate ion CO32-. The most common carbonate materials are limestone, calcium carbonate, sodium carbonate, potassium carbonate, and magnesium carbonate. Carbonate compounds are widely used in various end-use industries such as food & beverage, pharmaceuticals, construction, agriculture, and others. Carbonates act as neutralizing agents, leavening agents, pH stabilizers, and flavoring agents in food & beverage products.
Market Dynamics:
Increased usage of carbonates in the food & beverage industry is a major factor driving growth of the global carbonate market. Carbonates such as calcium carbonate, sodium carbonate, and potassium carbonate are widely used as ingredients in beverages, dairy products, bakery products, and others. For instance, calcium carbonate is used as an acidity regulator or alkalizer in the manufacturing of beer, wine, and fruit juices. Growing consumption of packaged food & beverages globally is favoring market growth. Additionally, expanding construction industry around the world is also contributing to the market growth. Carbonates such as calcium carbonate and dolomite are primary ingredients used in the manufacturing of cement and concrete.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
