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| Global Carbonate Market Size |
Carbonates such as sodium bicarbonate, potassium bicarbonate and sodium
carbonate find widespread applications in personal care products owing to their
deodorizing, pH balancing and antimicrobial properties. They are commonly used
in formulations of toothpastes, deodorants, shampoos, face washes and other
products. The increasing demand for natural and organic personal care solutions
is driving the aadoption of carbonates as they allow manufacturers to formulate
products without toxic chemicals.
The global
Carbonate Market is estimated to be valued at US$ 183.76 Bn in 2024 and is expected to exhibit a CAGR of 14.% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The increasing popularity of natural ingredients in personal care products has
accelerated the usage of carbonates in recent years. They are preferred over
other synthetic alkalizing agents owing to their natural origin. Growing
consumer awareness about ingredients and shift towards eco-friendly products
has boosted the demand for carbonate infused personal care products.
Manufacturers are innovating new formats such as powders, brushes and sticks to
offer carbonates for localized application on skin and hair. Stimulated by
their effectiveness and growing product repertoire, the carbonate market is
expected to witness lucrative opportunities over the forecast period. However,
price volatility of raw materials may pose challenges.
Segment
Analysis
The global carbonate market is dominated by the bicarbonate sub-segment. Sodium
bicarbonate or baking soda enjoys widespread use across a variety of industries
like food & beverage, pharmaceuticals, personal care, metal processing
among others. Its excellent buffering and alkalizing properties make it
suitable for use as an acidity regulator, dental and household cleaner. It also
helps improve digestion when consumed. With such diverse industrial and
consumer applications, sodium bicarbonate accounts for over 40% share of the
overall carbonate market size.
Key Takeaways
Global
Carbonate Market Size is expected to witness high growth over the
forecast period of 2024-2031.
Regional
analysis: The Asia Pacific region dominates the carbonate market currently and
is expected to maintain its leading position during the forecast years as well.
This can be attributed to high consumption of carbonates like sodium
bicarbonate in industries such as pharmaceutical, food & beverage and
personal care where demand is growing steadily. Countries like India and China
are major contributors to the regional market growth due to their large
population base and rapid industrialization.
Key players
operating in the carbonate market are bioMérieux, Inc., INOVIQ, Bio-Rad
Laboratories, Inc., Abbott, Becton, Dickinson and Company, Merck KgaA, QIAGEN,
Thermo Fisher Scientific Inc., CENTOGENE N.V., PerkinElmer Inc., and Siemens
Healthcare Private Limited. Consolidating their market presence through
partnerships, expansion of production facilities and new product launches will
be the focus areas for key companies to gainedge over competition.
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