Aragonite Market Size, Share, Trends, Growth 2030

Aragonite Industry Prospective:

The global aragonite market size was worth around USD 1.26 billion in 2022 and is predicted to grow to around USD 1.81 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.86% between 2023 and 2030.

The report analyzes the global aragonite 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 aragonite industry.

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Aragonite Market: Overview

Aragonite is a mineral form of calcium carbonate. Chemically, aragonite is similar to calcite which is another commonly used carbonate material. Aragonite is named after the Aragon region in Spain since it was first described in this location. In the orthorhombic crystal system, Argonite tends to crystallize and it typically forms prismatic, needle-like crystals or aggregates. The mineral is found in various geographical settings such as sedimentary rocks, hydrothermal veins, and as a product of biological processes. It is an important component of coral reefs, shells, and other forms of marine organisms’ skeletal structures. The majority of the organic reefs across the globe, including the Great Barrier Reef, are built from aragonite that is secreted by coral polyps. The distinguishing factor between calcite and aragonite is the crystal structure of the latter since it has a different arrangement of atoms leading to different physical properties. The aragonite industry deals with the extraction, production, and distribution of aragonite for several applications.

Key Insights:

• As per the analysis shared by our research analyst, the global aragonite market is estimated to grow annually at a CAGR of around 4.86% over the forecast period (2023-2030)
• In terms of revenue, the global aragonite market size was valued at around USD 1.26 billion in 2022 and is projected to reach USD 1.81 billion, by 2030.
• The aragonite market is projected to grow at a significant rate due to the growing application in end-user verticals
• Based on application segmentation, construction was predicted to show maximum market share in the year 2022
• Based on type segmentation, the stone was the leading type in 2022
• On the basis of region, Europe was the leading revenue generator in 2022

Aragonite Market: Growth Drivers

Growth in end-user verticals to drive market demand

The global aragonite market is projected to grow owing to the growing applications of the mineral in several end-user verticals. Some of the primary sectors include agricultural and construction industries. Aragonite has wide applications in agriculture where it is used extensively as a soil conditioner. It plays a crucial role in maintaining the pH levels of the soil while ensuring nutrient availability and enhancing soil structure. As the world is focusing on improving sustainable agricultural practices along with the growing need for higher crop yields and less damage, the demand for aragonite is likely to continue growing. Additionally, aragonite is also used to produce cement and concrete which are the basic raw materials required in the construction sector. Increasing population, rising demand for housing units, rapid urbanization, commercialization, and industrialization work together in pushing the applications of aragonite in the building & construction sector. Aragonite is used in this industry due to its highly improved strength and high calcium content.

Aragonite Market: Restraints

Limited availability of aragonite to impede market expansion.

Aragonite is available in limited quantities across the globe. The deposits for the mineral are highly limited when compared to other minerals such as limestone or calcite which typically boast of high availability. This leads to severe pressure on the supply chain of the mineral leading to a rise in prices. Furthermore, extensive extraction of aragonite from natural resources could lead to severe and irreparable implications for the environment. Typically, mining activities are known to lead to habitat destruction and disturbance to the ecosystem among other aspects. With the growing emphasis on environmental sustainability, the aragonite market players may face opposition from agencies working toward maintaining the ecosystem.

Aragonite Market: Opportunities

Growing investment in infrastructure development to provide higher growth opportunities

One of the key factors that could create more avenues for revenue in the aragonite industry is the growing investment toward infrastructure development worldwide. This includes undertakings by government and private agencies working toward residential and commercial construction projects. Certain properties of aragonite make it a highly valuable additive in the construction sector since it is known to improve the strength and durability of the final unit. In 2019, India witnessed an emphasis on large-scale infrastructure development projects worth INR 102 lakh crore and led by the National Infrastructure Pipeline (NIP) worth.

Aragonite Market: Challenges

Availability of substitutes and intense competition to challenge market growth

Aragonite faced dual competition. Since the mineral has limited availability, the internal competition is already intense due to companies trying to seize control over a restricted number of deposits. Additionally, there are multiple alternatives to aragonite that are gaining more demand. For instance, the construction sector is open to using limestone, calcite, and fly ash which are also used as credible additives. Such a type of dual competition is a major challenge for the aragonite industry players to overcome.

Aragonite Market: Segmentation

The global aragonite market is segmented based on application, type, and region.

Based on application, the global market segments are construction, aquariums, agriculture, and gemstone cutting. The industry registered the largest application in the construction sector in 2022 due to its ability to produce highly durable and stronger concrete. Factors such as infrastructure projects, residential and commercial construction, along with the need for sustainable building materials are the main reasons for higher segmental growth. Furthermore, aragonite is used in aquariums, especially in saltwater tanks where it is utilized as a substrate or sand bed. It provides a natural habitat for marine organisms. As the popularity of aquariums is growing along with the need for a natural-looking setup, greater segmental demand for aragonite is expected. The Chimelong Ocean Kingdom, one of the largest aquariums in the world uses 13 million gallons of water.

Based on type, the global aragonite market divisions are stone and sand. The highest demand was for the aragonite stone in 2022 due to its higher application in the construction sector. Aragonite stone is also known as aragonite rock. It is crushed and processed to produce aggregate materials that are used during the production of cement and concrete. Aragonite sand is more commonly used in the aquarium sector and is sought after for its fine texture, natural appearance, and ability to provide a suitable substrate for marine organisms. On the Mohs scale, aragonite showcases a hardness of 3.5 to 4

Recent Developments:

• In June 2020, Eyewitness News reported that a proposed multi-million dollar project that deals with the mining and extraction of aragonite at the Morgan Bluff location in Andros faced severe opposition from environmentalists and some regional populations. The proposed project aims at the development of a massive air-sea manufacturing/commercial park but it would require aragonite harvesting from the Joulter Cays Sand Bank area
• In February 2023, The Government of India announced the launch of KhananPrahari. It is a mobile application and was launched alongside one web app Coal Mine Surveillance and Management System (CMSMS). With the use of the application, people can report unauthorized coal mining in the country for the government to take necessary actions

Aragonite Market: Report Scope

Aragonite Market: Regional Analysis

Europe to register the highest growth during the forecast period

The global aragonite market is expected to witness the highest growth in Europe due to high deposits of aragonite in Spain and some reserves in France. The mineral was first discovered in Spain and since then it has been heavily researched to understand and discover more caves rich with aragonite. Furthermore, the increasing application of the mineral in growing sectors such as construction and building could also act as a driving factor.

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North America is anticipated to grow at a significant rate due to high deposits of aragonite in Utah. However, the region of Aragonite in Utah has now become a ghost town. The regional growth is expected to be limited due to the growing pressure from environmentalists that are opposing irresponsible mining and harvesting of aragonite across the globe.

Growth in Asia-Pacific is expected to be the result of rising infrastructure development projects along with rapid urbanization and a growing focus on aquaculture.

Aragonite Market: Competitive Analysis

The global aragonite market is led by players like:

• CARMEUSE
• Omya AG
• Lhoist Group
• Minerals Technologies Inc.
• Mississippi Lime Company
• Minerals Technologies Inc.
• Carmeuse Group
• Graymont Limited
• Longcliffe Quarries Ltd.
• Esseco Group
• Nordkalk Corporation
• Maruo Calcium Co. Ltd.
• Fimatec Ltd.
• Marmiro Stones
• Specialty Minerals Inc.
• Cales de Llierca S.A.
• Reade International Corp.
• Aremco Products Inc.
• Chalet Stone
• Eco-Block
• Chemical Lime Company.

The global aragonite market is segmented as follows:

By Application

• Construction
• Aquariums
• Agriculture
• Gemstone Cutting

By Type

• Stone
• Stand

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa