Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Product Overview
The carbonate is a salt of carbonic acid. It is a polyatomic ion which has one carbon atom enclosed with three oxygen atoms. It is also referred as carbonate ester. Most of the salt of carbonates is insoluble in water. Carbonates are primarily used in the manufacturing of detergents, cements and ceramics. The carbonate salt generally decomposes on heating leaving oxide of metal. The organic carbonates are also known as carbonate esters. These carbonate esters are also used in the batteries and chemical industry. The most common types of carbonate are sodium carbonate, calcium carbonate, potassium carbonate, and iron carbonate.
Market Size and Forecast
The global carbonate market is anticipated to expand at a significant CAGR throughout 2018-2027. It is projected to reach significant market size by 2027. The increasing demand for the carbonate salt from various end-user industries is anticipated to increase the market size of the global carbonate market over the forecast period.
The global carbonate market can be segmented on the basis of type and end-user industries. On the basis of type, it is segmented into iron carbonate, sodium carbonate, potassium carbonate and calcium carbonate. Sodium carbonate is mainly used as a cleaning agent .It is also used as bleaching agent, fillers, solvents and solid separation agents. On the basis of end-use industries, it is sub-segmented into paints and coatings, detergents and cleaners, dyes and pigments, glass and ceramics, adhesives and sealants and paper and pulp. Paints and coatings sub-segment is anticipated to be the fastest growing sub-segment on the account of large scale usage of carbonate salts in the paints and coatings industry.
By region, global carbonate market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific is anticipated to hold the largest market share of global carbonate market on the account of rapid industrialization which increases the demand for the paints and coatings, detergents and cleaners, dyes and pigments in the region. This in turn leads to the rising demand for carbonate during the forecast period. North America is the second largest region for the global carbonate market on the account of upsurge in the demand for the various types of carbonate which include iron carbonate, sodium carbonate, potassium carbonate and calcium carbonate from various end-user industries in the region.CLICK TO DOWNLOAD FREE SAMPLE
Market Segmentation
Our in-depth analysis segmented the global carbonate market in the following segments:
By Type:
By End-Use Industries:
By Region
Global carbonate market is further classified on the basis of region as follows:
Growth Drivers and Challenges
The rising demand for various types of carbonate salts from different end-user industries is anticipated to be a major growth factor for the global carbonate market throughout the forecast period. The increasing demand for the carbonate salt from the paper and pulp industry, automotive and adhesives is anticipated to fuel the market growth of the carbonate globally. Additionally, the rising demand for the carbonate salts from the glass industry in order to manufacture various types of glass is anticipated to boost the demand for the carbonate salts. The increasing demand for the potassium carbonate from the food processing, dyes & pigments, cleaners and chemicals is anticipated to increase the demand for the carbonate salts during the forecast period.
However, the rising health concern related to various types of chemicals is anticipated to restraint the market growth over the forecast period.
Key Players
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