The Global Carbonate Market size is expected to reach $6.4 billion by 2030, rising at a market growth of 6.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,830.2 Kilo Tonnes, experiencing a growth of 5.5% (2019-2022).
Carbonates, such as ethylene carbonate (EC) and propylene carbonate (PC), exhibit good electrical conductivity. This property is essential for efficient ion transport within the electrolyte, enhancing the overall performance of batteries. Consequently, the electrolytes segment would generate approximately 18.77% share of the market by 2030. Carbonates generally have a high dielectric constant, which is favorable for creating electrolytes with high capacitance. This characteristic is crucial for the energy storage capacity of electrochemical devices.
Activities related to construction serve as significant drivers for the carbonate market due to the extensive use of carbonate compounds, primarily calcium carbonate, in various construction materials and industrial applications. Calcium carbonate, a widely used compound, has extensive applications in construction. It is a key ingredient in producing construction materials such as cement, concrete, mortar, and asphalt. Hence, the growing construction activities propel the market demand. Moreover, Carbonate compounds are used extensively in producing polymers and composite materials in automotive and electronics manufacturing. Carbonate compounds use automotive components, including interior trim, bumpers, body panels, dashboards, and under-the-hood parts. Therefore, the proliferation of carbonate-based products within the automotive industry is propelling the expansion of the market.
However, the market relies on specific raw materials such as limestone for calcium carbonate or ethylene for some carbonate derivatives. Any fluctuations in the availability of these primary raw materials, pricing, or supply chain disruptions directly impact carbonate compounds' production costs and overall economics. Uncertainty regarding raw material costs can hinder strategic decision-making and capital allocation. Thus, the volatile nature of raw materials is impeding the growth of the market.
By Application Analysis
On the basis of application, the market is segmented into solvents, catalysts, electrolytes, additives, cleaners, and others. The solvents segment recorded the largest revenue share in the market in 2022. Carbonates, particularly certain types like dimethyl carbonate (DMC), are considered environmentally friendly solvents. They have low toxicity, low volatility, and are biodegradable, making them more sustainable alternatives to traditional solvents with higher environmental impact. Furthermore, carbonates possess good solvency power, allowing them to dissolve a wide range of substances. This characteristic makes them effective solvents in various applications, including paint stripping, cleaning, and as carriers in formulations for coatings and adhesives.
By End Use Analysis
Based on end use, the market is categorized into cosmetics & personal care, paints & coatings, pharmaceuticals, textile, energy & power, polymer, and others. The polymer segment witnessed a considerable growth rate in the market in 2022. Carbonates, especially calcium carbonate, are widely used as fillers and reinforcing agents in polymer formulations. They enhance the mechanical properties of polymers, including tensile strength, modulus, and impact resistance, while simultaneously reducing costs. The incorporation of carbonates can improve the thermal conductivity of polymers. This is beneficial in applications where heat dissipation is crucial, such as in electronic components and packaging materials.
By Type Analysis
Based on type, the market is divided into dimethyl, propylene, ethylene, glycerol, 1,2-epoxydodecane, 1,2-hexadecene, styrene, epichlorohydrin, and others. In 2022, the glycerol segment garnered the highest revenue share in the market. The significant expansion of glycerol across diverse industries, with its increasing applications in renewable energy, pharmaceuticals, cosmetics, and more, has notable implications for the carbonate market. Glycerol, with its multifaceted utility and sustainability attributes, plays a crucial role in the development of bioplastics and biodegradable materials.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated a substantial revenue share in the market in 2022. The promising outlook of the carbonate market in North America is driven by economic stability, advanced infrastructure, growth in key industries, innovation, sustainability initiatives, and a supportive regulatory environment. These factors position North America as a region with considerable potential for further expansion and development in the carbonate market.
Recent Strategies Deployed in the Market
- Jan-2024: LyondellBasell Industries Holdings B.V. has introduced eight novel product compounds within the CirculenRecover portfolio, aiming to assist clients in embracing circular practices for plastic packaging. These compounds facilitate the enhancement of recycled content utilization, effectively diverting more plastic from landfills or incineration.
- Dec-2023: Solvay S.A formed a partnership with Enowa, a subsidiary company of Neom, a energy and water company. Through this partnership Solvay aims to establish the world's first carbon-neutral soda ash production facility in NEOM, Saudi Arabia
- Jun-2023: Imerys S.A has successfully completed the acquisition of British Lithium Limited, a pioneering research and development company specializing in lithium exploration and the production of battery-grade lithium extracted from Cornish granite. This strategic move has led to the establishment of a joint venture between Imerys S.A and British Lithium, with the shared objective of establishing the United Kingdom's inaugural integrated producer of battery-grade lithium carbonate.
- Oct-2022: Solvay S.A entered into an agreement with Hastings Technology Metals Limited, an Australian rare earths company. The agreement involves a binding commercial offtake deal for 25,000 tonnes per annum of mixed rare earth carbonate (MREC) from Hastings' Yangibana rare earth project in Western Australia to Solvay's La Rochelle plant in France. This agreement aims to enable Solvay to enhance and upgrade its La Rochelle facility for producing separated rare earth oxides, catering to the permanent magnets market.
- Apr-2022: Imerys S.A has unveiled plans for the expansion and enhancement of its Sylacauga (AL) plant, with the primary goal of meeting the increasing demand for ground calcium carbonate products. The investment will focus on boosting manufacturing capacity and enhancing operational reliability, with the aim of nearly doubling the capabilities of existing equipment. The strategy involves the installation of new industrial machinery and the upgrading of plant automation systems to facilitate the alleviation of bottlenecks in crucial areas, ensuring alignment with the rising market demands.
List of Key Companies Profiled
- BASF SE
- Huntsman Corporation
- LyondellBasell Industries Holdings B.V.
- Empower Materials (Axess Corporation)
- Anmol Chemicals Private Limited
- Kowa Company, Ltd.
- Shandong Lixing Chemical Co. Ltd.
- Imerys S.A
- SMC Global
- Solvay SA
Global Carbonate Market Report Segmentation
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Solvents
- Catalysts
- Electrolytes
- Additives
- Cleaners & Others
By End Use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Paints & Coatings
- Cosmetics & Personal Care
- Pharmaceuticals
- Energy & Power
- Polymer
- Textile
- Others
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- Glycerol
- Dimethyl
- Ethylene
- Propylene
- 1,2-Epoxydodecane
- 1,2-Hexadecene
- Styrene
- Epichlorohydrin
- Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Carbonate Market, by Application
- 1.4.2 Global Carbonate Market, by End Use
- 1.4.3 Global Carbonate Market, by Type
- 1.4.4 Global Carbonate Market, by Geography
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- 3.3 Porter's Five Forces Analysis
Chapter 4. Strategies Deployed in Carbonate Market
Chapter 5. Global Carbonate Market by Application
- 5.1 Global Solvents Market by Region
- 5.2 Global Catalysts Market by Region
- 5.3 Global Electrolytes Market by Region
- 5.4 Global Additives Market by Region
- 5.5 Global Cleaners & Others Market by Region
Chapter 6. Global Carbonate Market by End Use
- 6.1 Global Paints & Coatings Market by Region
- 6.2 Global Cosmetics & Personal Care Market by Region
- 6.3 Global Pharmaceuticals Market by Region
- 6.4 Global Energy & Power Market by Region
- 6.5 Global Polymer Market by Region
- 6.6 Global Textile Market by Region
- 6.7 Global Others Market by Region
Chapter 7. Global Carbonate Market by Type
- 7.1 Global Glycerol Market by Region
- 7.2 Global Dimethyl Market by Region
- 7.3 Global Ethylene Market by Region
- 7.4 Global Propylene Market by Region
- 7.5 Global 1,2-Epoxydodecane Market by Region
- 7.6 Global 1,2-Hexadecene Market by Region
- 7.7 Global Styrene Market by Region
- 7.8 Global Epichlorohydrin Market by Region
- 7.9 Global Others Market by Region
Chapter 8. Global Carbonate Market by Region
- 8.1 North America Carbonate Market
- 8.1.1 North America Carbonate Market by Application
- 8.1.1.1 North America Solvents Market by Country
- 8.1.1.2 North America Catalysts Market by Country
- 8.1.1.3 North America Electrolytes Market by Country
- 8.1.1.4 North America Additives Market by Country
- 8.1.1.5 North America Cleaners & Others Market by Country
- 8.1.2 North America Carbonate Market by End Use
- 8.1.2.1 North America Paints & Coatings Market by Country
- 8.1.2.2 North America Cosmetics & Personal Care Market by Country
- 8.1.2.3 North America Pharmaceuticals Market by Country
- 8.1.2.4 North America Energy & Power Market by Country
- 8.1.2.5 North America Polymer Market by Country
- 8.1.2.6 North America Textile Market by Country
- 8.1.2.7 North America Others Market by Country
- 8.1.3 North America Carbonate Market by Type
- 8.1.3.1 North America Glycerol Market by Country
- 8.1.3.2 North America Dimethyl Market by Country
- 8.1.3.3 North America Ethylene Market by Country
- 8.1.3.4 North America Propylene Market by Country
- 8.1.3.5 North America 1,2-Epoxydodecane Market by Country
- 8.1.3.6 North America 1,2-Hexadecene Market by Country
- 8.1.3.7 North America Styrene Market by Country
- 8.1.3.8 North America Epichlorohydrin Market by Country
- 8.1.3.9 North America Others Market by Country
- 8.1.4 North America Carbonate Market by Country
- 8.1.4.1 US Carbonate Market
- 8.1.4.1.1 US Carbonate Market by Application
- 8.1.4.1.2 US Carbonate Market by End Use
- 8.1.4.1.3 US Carbonate Market by Type
- 8.1.4.2 Canada Carbonate Market
- 8.1.4.2.1 Canada Carbonate Market by Application
- 8.1.4.2.2 Canada Carbonate Market by End Use
- 8.1.4.2.3 Canada Carbonate Market by Type
- 8.1.4.3 Mexico Carbonate Market
- 8.1.4.3.1 Mexico Carbonate Market by Application
- 8.1.4.3.2 Mexico Carbonate Market by End Use
- 8.1.4.3.3 Mexico Carbonate Market by Type
- 8.1.4.4 Rest of North America Carbonate Market
- 8.1.4.4.1 Rest of North America Carbonate Market by Application
- 8.1.4.4.2 Rest of North America Carbonate Market by End Use
- 8.1.4.4.3 Rest of North America Carbonate Market by Type
- 8.2 Europe Carbonate Market
- 8.2.1 Europe Carbonate Market by Application
- 8.2.1.1 Europe Solvents Market by Country
- 8.2.1.2 Europe Catalysts Market by Country
- 8.2.1.3 Europe Electrolytes Market by Country
- 8.2.1.4 Europe Additives Market by Country
- 8.2.1.5 Europe Cleaners & Others Market by Country
- 8.2.2 Europe Carbonate Market by End Use
- 8.2.2.1 Europe Paints & Coatings Market by Country
- 8.2.2.2 Europe Cosmetics & Personal Care Market by Country
- 8.2.2.3 Europe Pharmaceuticals Market by Country
- 8.2.2.4 Europe Energy & Power Market by Country
- 8.2.2.5 Europe Polymer Market by Country
- 8.2.2.6 Europe Textile Market by Country
- 8.2.2.7 Europe Others Market by Country
- 8.2.3 Europe Carbonate Market by Type
- 8.2.3.1 Europe Glycerol Market by Country
- 8.2.3.2 Europe Dimethyl Market by Country
- 8.2.3.3 Europe Ethylene Market by Country
- 8.2.3.4 Europe Propylene Market by Country
- 8.2.3.5 Europe 1,2-Epoxydodecane Market by Country
- 8.2.3.6 Europe 1,2-Hexadecene Market by Country
- 8.2.3.7 Europe Styrene Market by Country
- 8.2.3.8 Europe Epichlorohydrin Market by Country
- 8.2.3.9 Europe Others Market by Country
- 8.2.4 Europe Carbonate Market by Country
- 8.2.4.1 Germany Carbonate Market
- 8.2.4.1.1 Germany Carbonate Market by Application
- 8.2.4.1.2 Germany Carbonate Market by End Use
- 8.2.4.1.3 Germany Carbonate Market by Type
- 8.2.4.2 Russia Carbonate Market
- 8.2.4.2.1 Russia Carbonate Market by Application
- 8.2.4.2.2 Russia Carbonate Market by End Use
- 8.2.4.2.3 Russia Carbonate Market by Type
- 8.2.4.3 UK Carbonate Market
- 8.2.4.3.1 UK Carbonate Market by Application
- 8.2.4.3.2 UK Carbonate Market by End Use
- 8.2.4.3.3 UK Carbonate Market by Type
- 8.2.4.4 France Carbonate Market
- 8.2.4.4.1 France Carbonate Market by Application
- 8.2.4.4.2 France Carbonate Market by End Use
- 8.2.4.4.3 France Carbonate Market by Type
- 8.2.4.5 Italy Carbonate Market
- 8.2.4.5.1 Italy Carbonate Market by Application
- 8.2.4.5.2 Italy Carbonate Market by End Use
- 8.2.4.5.3 Italy Carbonate Market by Type
- 8.2.4.6 Netherlands Carbonate Market
- 8.2.4.6.1 Netherlands Carbonate Market by Application
- 8.2.4.6.2 Netherlands Carbonate Market by End Use
- 8.2.4.6.3 Netherlands Carbonate Market by Type
- 8.2.4.7 Rest of Europe Carbonate Market
- 8.2.4.7.1 Rest of Europe Carbonate Market by Application
- 8.2.4.7.2 Rest of Europe Carbonate Market by End Use
- 8.2.4.7.3 Rest of Europe Carbonate Market by Type
- 8.3 Asia Pacific Carbonate Market
- 8.3.1 Asia Pacific Carbonate Market by Application
- 8.3.1.1 Asia Pacific Solvents Market by Country
- 8.3.1.2 Asia Pacific Catalysts Market by Country
- 8.3.1.3 Asia Pacific Electrolytes Market by Country
- 8.3.1.4 Asia Pacific Additives Market by Country
- 8.3.1.5 Asia Pacific Cleaners & Others Market by Country
- 8.3.2 Asia Pacific Carbonate Market by End Use
- 8.3.2.1 Asia Pacific Paints & Coatings Market by Country
- 8.3.2.2 Asia Pacific Cosmetics & Personal Care Market by Country
- 8.3.2.3 Asia Pacific Pharmaceuticals Market by Country
- 8.3.2.4 Asia Pacific Energy & Power Market by Country
- 8.3.2.5 Asia Pacific Polymer Market by Country
- 8.3.2.6 Asia Pacific Textile Market by Country
- 8.3.2.7 Asia Pacific Others Market by Country
- 8.3.3 Asia Pacific Carbonate Market by Type
- 8.3.3.1 Asia Pacific Glycerol Market by Country
- 8.3.3.2 Asia Pacific Dimethyl Market by Country
- 8.3.3.3 Asia Pacific Ethylene Market by Country
- 8.3.3.4 Asia Pacific Propylene Market by Country
- 8.3.3.5 Asia Pacific 1,2-Epoxydodecane Market by Country
- 8.3.3.6 Asia Pacific 1,2-Hexadecene Market by Country
- 8.3.3.7 Asia Pacific Styrene Market by Country
- 8.3.3.8 Asia Pacific Epichlorohydrin Market by Country
- 8.3.3.9 Asia Pacific Others Market by Country
- 8.3.4 Asia Pacific Carbonate Market by Country
- 8.3.4.1 China Carbonate Market
- 8.3.4.1.1 China Carbonate Market by Application
- 8.3.4.1.2 China Carbonate Market by End Use
- 8.3.4.1.3 China Carbonate Market by Type
- 8.3.4.2 India Carbonate Market
- 8.3.4.2.1 India Carbonate Market by Application
- 8.3.4.2.2 India Carbonate Market by End Use
- 8.3.4.2.3 India Carbonate Market by Type
- 8.3.4.3 Japan Carbonate Market
- 8.3.4.3.1 Japan Carbonate Market by Application
- 8.3.4.3.2 Japan Carbonate Market by End Use
- 8.3.4.3.3 Japan Carbonate Market by Type
- 8.3.4.4 South Korea Carbonate Market
- 8.3.4.4.1 South Korea Carbonate Market by Application
- 8.3.4.4.2 South Korea Carbonate Market by End Use
- 8.3.4.4.3 South Korea Carbonate Market by Type
- 8.3.4.5 Indonesia Carbonate Market
- 8.3.4.5.1 Indonesia Carbonate Market by Application
- 8.3.4.5.2 Indonesia Carbonate Market by End Use
- 8.3.4.5.3 Indonesia Carbonate Market by Type
- 8.3.4.6 Australia Carbonate Market
- 8.3.4.6.1 Australia Carbonate Market by Application
- 8.3.4.6.2 Australia Carbonate Market by End Use
- 8.3.4.6.3 Australia Carbonate Market by Type
- 8.3.4.7 Rest of Asia Pacific Carbonate Market
- 8.3.4.7.1 Rest of Asia Pacific Carbonate Market by Application
- 8.3.4.7.2 Rest of Asia Pacific Carbonate Market by End Use
- 8.3.4.7.3 Rest of Asia Pacific Carbonate Market by Type
- 8.4 LAMEA Carbonate Market
- 8.4.1 LAMEA Carbonate Market by Application
- 8.4.1.1 LAMEA Solvents Market by Country
- 8.4.1.2 LAMEA Catalysts Market by Country
- 8.4.1.3 LAMEA Electrolytes Market by Country
- 8.4.1.4 LAMEA Additives Market by Country
- 8.4.1.5 LAMEA Cleaners & Others Market by Country
- 8.4.2 LAMEA Carbonate Market by End Use
- 8.4.2.1 LAMEA Paints & Coatings Market by Country
- 8.4.2.2 LAMEA Cosmetics & Personal Care Market by Country
- 8.4.2.3 LAMEA Pharmaceuticals Market by Country
- 8.4.2.4 LAMEA Energy & Power Market by Country
- 8.4.2.5 LAMEA Polymer Market by Country
- 8.4.2.6 LAMEA Textile Market by Country
- 8.4.2.7 LAMEA Others Market by Country
- 8.4.3 LAMEA Carbonate Market by Type
- 8.4.3.1 LAMEA Glycerol Market by Country
- 8.4.3.2 LAMEA Dimethyl Market by Country
- 8.4.3.3 LAMEA Ethylene Market by Country
- 8.4.3.4 LAMEA Propylene Market by Country
- 8.4.3.5 LAMEA 1,2-Epoxydodecane Market by Country
- 8.4.3.6 LAMEA 1,2-Hexadecene Market by Country
- 8.4.3.7 LAMEA Styrene Market by Country
- 8.4.3.8 LAMEA Epichlorohydrin Market by Country
- 8.4.3.9 LAMEA Others Market by Country
- 8.4.4 LAMEA Carbonate Market by Country
- 8.4.4.1 Brazil Carbonate Market
- 8.4.4.1.1 Brazil Carbonate Market by Application
- 8.4.4.1.2 Brazil Carbonate Market by End Use
- 8.4.4.1.3 Brazil Carbonate Market by Type
- 8.4.4.2 Argentina Carbonate Market
- 8.4.4.2.1 Argentina Carbonate Market by Application
- 8.4.4.2.2 Argentina Carbonate Market by End Use
- 8.4.4.2.3 Argentina Carbonate Market by Type
- 8.4.4.3 UAE Carbonate Market
- 8.4.4.3.1 UAE Carbonate Market by Application
- 8.4.4.3.2 UAE Carbonate Market by End Use
- 8.4.4.3.3 UAE Carbonate Market by Type
- 8.4.4.4 Saudi Arabia Carbonate Market
- 8.4.4.4.1 Saudi Arabia Carbonate Market by Application
- 8.4.4.4.2 Saudi Arabia Carbonate Market by End Use
- 8.4.4.4.3 Saudi Arabia Carbonate Market by Type
- 8.4.4.5 South Africa Carbonate Market
- 8.4.4.5.1 South Africa Carbonate Market by Application
- 8.4.4.5.2 South Africa Carbonate Market by End Use
- 8.4.4.5.3 South Africa Carbonate Market by Type
- 8.4.4.6 Egypt Carbonate Market
- 8.4.4.6.1 Egypt Carbonate Market by Application
- 8.4.4.6.2 Egypt Carbonate Market by End Use
- 8.4.4.6.3 Egypt Carbonate Market by Type
- 8.4.4.7 Rest of LAMEA Carbonate Market
- 8.4.4.7.1 Rest of LAMEA Carbonate Market by Application
- 8.4.4.7.2 Rest of LAMEA Carbonate Market by End Use
- 8.4.4.7.3 Rest of LAMEA Carbonate Market by Type
Chapter 9. Company Profiles
- 9.1 BASF SE
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expense
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Partnerships, Collaborations, and Agreements:
- 9.1.6 SWOT Analysis
- 9.2 Huntsman Corporation
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segment and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 SWOT Analysis
- 9.3 LyondellBasell Industries Holdings B.V.
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expenses
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Product Launches and Product Expansions:
- 9.3.6 SWOT Analysis
- 9.4 Empower Materials, Inc. (Axess Corporation)
- 9.4.1 Company Overview
- 9.4.2 SWOT Analysis
- 9.5 Anmol Chemicals Private Limited
- 9.5.1 Company Overview
- 9.5.2 SWOT Analysis
- 9.6 Kowa Company, Ltd.
- 9.6.1 Company Overview
- 9.6.2 SWOT Analysis
- 9.7 Shandong Lixing Advanced Material Co., Ltd.
- 9.7.1 Company Overview
- 9.7.2 SWOT Analysis
- 9.8 SMC Global
- 9.9 Imerys S.A.
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Recent strategies and developments:
- 9.9.4.1 Acquisition and Mergers:
- 9.9.4.2 Geographical Expansions:
- 9.10. Solvay SA
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Partnerships, Collaborations, and Agreements:
- 9.10.6 SWOT Analysis
Chapter 10. Winning Imperatives of Carbonate Market