Vaterite Market Size 2023-2030 Global Industrial Analysis, Market Share, Top Key Players

Vaterite Market

The global vaterite market size was worth around USD 493.65 million in 2022 and is predicted to grow to around USD 712.56 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.26% between 2023 and 2030.

The report analyzes the global vaterite market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the vaterite industry.

Vaterite is a part of the hexagonal crystal system and is also known as mu-calcium carbonate. It is a polymorph modification of calcium carbonate, least stable in nature, and is produced when the reaction takes place between an aqueous solution of calcium chloride and carbon dioxide in the presence of ammonia.

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It is colorless, spherical in shape, and has a small diameter. Vaterite has higher solubility as compared to aragonite or calcite and occurs naturally in mineral springs, organic tissues, gallstones, and urinary calculi. Vaterite can be consumed owing to its antacid properties but over-consumption may be dangerous.

One of the distinctive features of vaterite is that it does not change the chemical or physical properties of the products to which they are added. This feature creates a lucrative market for vaterite. It is also used as a mineral filler to obtain a high level of humidity retention.

Global Vaterite Market: Growth Factors

Vaterite is highly used in the production of drugs, medicines used for regeneration, and a wide range of personal care products. This will generate a huge demand for vaterite in the market. Bioactive fillers are another major promising area for the growth of the vaterite market since vaterite promotes bioactivity through apatite formation in degradable polymers.

Demand for vaterite from the personal care and pharmaceutical industries will be driving the market growth. Vaterite is used as a calcium supplement in the nutraceutical industry and it is also used as a coating pigment for inkjet paper. These applications will further fuel the demand of the vaterite market. However, vaterite is a rare mineral in nature which will cause a hindrance to market growth.

Global Vaterite Market: Segmentation

The global vaterite market is segmented into its type of source, end-users, application, and geography. On the basis of the type of source, the market is divided into its synthetic and natural vaterite sources. Based on end-users, the market is segregated into pharmaceuticals, personal care, and paper and pulp industries. On the basis of application, the market is categorized into antacids, coating pigments, tissue regenerators, and coating applications. Based on geography, the market is diversified into Europe, the Middle East and Africa, Latin America, Asia Pacific, and North America.

Global Vaterite Market: Regional Analysis

The largest share of the vaterite market is held by North America. Growth of the market can be attributed to the economic development of this region especially in countries such as Canada and the U.S. North America is followed by Asia Pacific in its growth.

Countries such as China, Japan, Australia, New Zealand, and India are some of the major contributors to this region. Steady growth will be witnessed in the European regions. Latin America and the Middle East and African regions will also be contributing a considerable market share owing to the vaterite resources in the coming periods.

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