Summary: Some of the key players in the lime market such as Carmeuse (Belgium), Lhoist Group (Belgium), Graymont Limited (Canada), Mississippi Lime Company (U.S.), United States Lime & Minerals Inc. (U.S.), Afrimat (South Africa), Linwood Mining & Minerals Corporation (U.S.) and others.
The global lime market size is expected to showcase significant growth by reaching USD 49.11 billion by 2027 while exhibiting a CAGR of 2.3% between 2020 and 2027. The increasing demand for lime for several chemical applications in the chemical industry and the stringent legal framework for treating wastewater is attributed to the growth. Fortune Business Insights, in its latest report, titled, “Lime Market Size, Share & Industry Analysis, By Type (Quick Lime, and Hydrated Lime), Application (Agriculture, Building Material, Mining & Metallurgy, Water Treatment, and Others), and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 41.84 billion in 2019.
Suspension of Mining Activities to Disrupt Supply Chain amid COVID-19
The mining of lime is critical because of its prominence for end-user industrial applications such as construction, metallurgy, and chemicals. However, the lockdown imposed by several government agencies globally has led to the halting of several mining activities that disrupt the supply chain of the product. This is likely to lead to restricted market growth in the near future. However, the lifting of restrictions imposed on the mining and construction activities by the government while adhering to stringent social-distancing norms is expected to favor the market growth.
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Lime is primarily a calcium-oxide inorganic mineral adopted across several industrial applications such as refinement of sugar crystals, building roads, and chemical feedstock. It is further used as an additive in asphalt to improve cohesion and chemical manufacturing to produce calcium carbonate.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Stringent Environmental Protection Regulation to Promote Growth
According to the World Health Organization (WHO), about half of the total world population is likely to be residing in water-stressed areas by 2025. The growing incidence of contamination due to industrial waste effluents is leading to the transmission of several diseases such as cholera, diarrhea, typhoid, and others. Therefore, to reduce the impact of wastewater, government agencies have implemented stringent regulations to improve drinking water standards. This has led to the growing adoption of hydrated lime that aids in changing the acidity of wastewater and removes toxins such as nitrogen and phosphorus. Additionally, the surging demand for quicklime to manufacture vital chemicals such as sodium alkali, cyanamide, glycol, and others is expected to boost the global lime market growth in the forthcoming years.
Agriculture Segment Held 3.4% Market Share in 2019
Based on application, the agriculture segment held a market share of about 3.4% in 2019 and is expected to showcase considerable growth during the forecast period. This is ascribable to factors such as the growing demand for lime to improve the pH value of soil, leading to higher yields of superior quality crops across the globe.
Asia-Pacific to Remain at Forefront; China Holding Prominent Position in Steel Industry to Aid Growth
Among all the regions, Asia-Pacific is expected to remain dominant and hold the highest position in the global lime market during the forecast period. This dominance is attributable to China’s dominance in the steel industry that is boosting the demand for lime in the region. For instance, according to Radio Free Asia data, China is likely to dominate the global steel market amid the novel coronavirus backed by the production of over 92.2 million metric tons of crude steel in May 2020.
The market in Europe is expected to experience significant growth due to the rapid-paced expansion of steel manufacturing industries to support the region’s automotive sector between 2020 and 2027.
Industry Players Focus on Facility Expansion to Brighten Their Market Prospects
The global lime market is experiencing stiff competition from major industry players focusing on adopting organic and inorganic strategies to gain a competitive edge over their rivals. The expansion of facilities to expand their lime product portfolio and cater to the high demand from several industrial applications is likely to favor the market growth.
- October 2019 – Graymont announced the commencement of the new state-of-the-art production facility located at Rexton, Michigan. According to the company, the new capacity will increase the production of several lime and limestone products to cater to consumer demand across the Great Lakes area in the U.S.
List of the Companies Profiled in the Global Market for Lime:
- Carmeuse (Belgium)
- Lhoist Group (Belgium)
- Graymont Limited (Canada)
- Mississippi Lime Company (U.S.)
- The United States Lime & Minerals Inc. (U.S.)
- Afrimat (South Africa)
- Linwood Mining & Minerals Corporation (U.S.)
- Minerals Technologies, Inc. (U.S.)
- Cheney Lime & Cement Company (U.S.)
- Pete Lien & Sons, Inc. (U.S.)
- Cape Lime (Pty) Ltd. (South Africa)
- Sigma Minerals Ltd. (India)
- Valley Mineral LLC (U.S.)
- Cornish Lime (UK)
- Other Key Players
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