Carbonate Marketby Type (Dimethyl, Propylene, Ethylene, Glycerol, 1, 2-Epoxydodecane, 1, 2-Hexadecene, Styrene, Epichlorohydrin, and Others), Application Type (Solvent, Catalyst, Electrolyte, Additive, Cleaner, and Others), and End User Type (Cosmetics & Personal Care, Paints & Coatings, Pharmaceuticals, Textile, Energy & Power, Polymer, and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
Carbonate Market by Type (Dimethyl, Propylene, Ethylene, Glycerol, 1, 2-Epoxydodecane, 1, 2-Hexadecene, Styrene, Epichlorohydrin, and Others), Application Type (Solvent, Catalyst, Electrolyte, Additive, Cleaner, and Others), and End User Type...
"The global carbonate market was estimated at US$ 3.5 billion in 2021 and is expected to grow at a CAGR of 7.1% during 2022-2028 to reach US$ 5.3 billion by 2028."
The term ‘carbonate” is an ion of the salt or ester of carbonic acid, with an anionic formula CO3. It can also refer to the act of making a substance carbonate or charging it with carbon dioxide. In geology, carbonates are a class of minerals that are formed out of the combination of calcium and magnesium with carbonic acid.
Trends influencing the market for carbonates include rising demand for petrochemicals, especially the use of dimethyl carbonate, which is used for solvents and electrolytes in lithium-ion batteries. Carbonate usage in the paint and coating industries and in the textile and pharmaceutical industries also fuels market growth. Moreover, the rise in awareness of sustainable and ecological products and services in different industries has boosted the consumption of carbonates since they are green solutions to chemical products. The market is mainly divided by type, application, end use and region; out of all these segments, the glycerol segment generates the most revenue.
Rising Demand for Eco-Friendly Products: Stakeholders’ awareness regarding environment-friendly products and the usage of sustainable materials is driving the global carbonates market, especially glycerol carbonates due to its multiple applications and low impact on the environment.
Expanding Applications: Carbonates are extensively employed in industries such as paints and coatings, cosmetics, pharmaceuticals, and energy storage. These sectors are especially growing in the emerging market and are responsible for the carbonate market’s growth.
Technological advancements in production techniques and industries that rely on carbonates are expanding new markets across industries like portable electrical devices and batteries that utilize carbonate salts as electrolytes in lithium-ion batteries.
New laws controlling the emission of VOCs have prompted manufacturers to use carbonates in solutions and coatings because of their safety in comparison to other chemical compounds.
Key Players
Some of the key players in the global carbonate market include:
The carbonate market is highly competitive with the presence of several players operating in the market. FMC Corporation, Albemarle Corporation, Solvay S.A., BASF SE, Evonik Industries AG, Eastman Chemical Company, NOVACAP SAS, Weifang YaxingChemical Co., Ltd., Zhejiang Jinke Chemicals Co., Ltd., and Jost Chemical Co. These companies focus on strategic collaborations, mergers and acquisitions, and product innovations to expand their market presence and gain a competitive advantage. For instance:
In June 2021, FMC Corporation announced the expansion of its lithium hydroxide production capacity in North America to meet the increasing demand for electric vehicle batteries.
In November 2020, Solvay S.A. announced the launch of a new eco-friendly sodium bicarbonate product, Solvay Sodium Bicarbonate EcoSafe, to meet the growing demand for sustainable chemicals.
The competitive landscape of the carbonate market is expected to remain highly competitive, with players focusing on product innovation and expansion to gain a competitive advantage.
Note: The above list does not necessarily include all the top players of the market.
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Segment Analysis
Application Trends
The market is segmented into solvents, catalysts, electrolytes, additives, cleaners, and others. Carbonates such as propylene carbonate and ethylene carbonate are commonly used as solvents for a range of applications, including in the electronics industry, coatings, and in the production of plastics.
End User Trends
The market is segmented into Cosmetics & Personal Care, Paints & Coatings, Pharmaceuticals, Textiles, Energy & Power and Polymer. Carbonates such as glycerol carbonate and propylene carbonate are used in producing various cosmetics and personal care products such as lotions, creams, and hair care products.
Regional Insights
The Asia-Pacific region is expected to be the fastest-growing market for carbonates, driven by the increasing demand from the construction and agriculture industries. Other key markets for carbonates include North America and Europe.
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Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Carbonate Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s carbonate market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
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The term ‘carbonate” is an ion of the salt or ester of carbonic acid, with an anionic formula CO3. It can also refer to the act of making a substance carbonate or charging it with carbon dioxide. In geology, carbonates are a class of minerals that are formed out of the combination of calcium and magnesium with carbonic acid.
Some of the key players in the Global Carbonate Market include Albemarle Corporation, Anmol Chemicals Group, BASF SE, Chemtura Corporation, Clariant AG, Empower Materials Inc., Evonik Industries AG, FMC Corporation, Huntsman International LLC, Kowa Company Ltd., LyondellBasell Industries Holdings B.V., Novacap, ReactChem Co. Ltd., Shandong Lixing Chemical Co. Ltd., Sigma-Aldrich Corporation, SMC Global, Solvay SA, TOAGOSEI Co. Ltd.
The Asia-Pacific region is expected to be the fastest-growing market for carbonates, driven by the increasing demand from the construction and agriculture industries. Other key markets for carbonates include North America and Europe.
