by Form (Sand, Stone); by Color (Green, White, Red, Orange, Brown, Grey, Yellow, Blue); By Application, (Fertilizer, Jewellery, Contaminated Water Treatment, Aquarium, Glass); By End User (Restaurants, Hospitals, Agriculture, Domestic places) - Global Historical Growth (2012-2016) & Future Outlook (2017-2027) Demand Analysis & Opportunity Evaluation
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Our in-depth analysis has segmented Aragonite Market into the following segments:
Global Aragonite Market is further classified on the basis of region as follows:
Government initiatives and wide range policies are anticipated to growth of the Aragonite Market during the forecast period. Aragonite sand is used in aquarium to stabilize the pH value of the water for the marine animals in aquarium. Further it helps to remove contaminated chemical particles from waste water such as zinc, cobalt, and lead during the water treatment process. These factors are expected to garner growth of the Aragonite Market in upcoming years.
Research and Development activities in fertilizer section are believed to open a gateway of opportunities for the companies entering into the business of Aragonite coating. It is used as alternative to fertilizer in agriculture field to enhance the soil properties which increases the soil fertility. Rising demand of the jewellery items and aquatic animals aquarium are the dynamic factor for the rapid growth of the Aragonite Market over the forecast period.
However, less availability of Aragonite in environment as compared to the other calcium carbonate minerals are expected to be the major restrain for the growth of the Aragonite Market
Global Aragonite market is expected to grow at highest CAGR in upcoming years. It is natural occurring polymorphic form of calcium carbonate like other minerals calcite and vaterite. Aragonite is used as secondary fertilizer which provides necessary nutrients to the soil, enhances the soil properties and soil fertility. Rising demand of the Aragonite in agriculture sector is the dynamic factor for the rapid growth of the Aragonite Market over the forecast period
In the regional market North America dominates the overall Aragonite market and will continue its controls over the forecast period. Global Aragonite Market is anticipated to grow at a significant CAGR during the forecast period. Presence of Aragonite sand at the seacoast in this zone, increasing quantity of reef aquarium at the high end of restaurants and domestic places are the some key factor which driving the growth of the Aragonite Market during the forecast period.
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Further, Europe government is giving more attention towards agriculture sector. Instead of fertilizer they encourage to use Aragonite to improve the soil fertility which is economic and less harmful to the environment. Rising demand of the aragonite in place of fertilizer is expected to be garner growth factor the Aragonite Market in upcoming years. Asia Pacific is also expected to grow at a significant pace in the upcoming period. Increasing the demand of the chemical used for the treatment of contaminated water and jewellery of gemstone is expected to positively impact the growth of the Aragonite Market over the forecast period. The market is mainly expanding on the back of the growth and expansion of fertilizer industries in the region.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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