Lime Market To Witness Huge Growth and Revenue Acceleration, Outlook, Insights forecast 2027
Global Lime Market:
Key Highlights
·
In terms of value, the global lime
market is anticipated to expand at a CAGR of ~6% from 2019 to 2027.
·
Lime is recognized as a highly diverse ingredient
for the downstream manufacturing industry. It is an essential ingredient in
steel manufacturing.
·
Based on product, the quicklime segment accounted
for a major share of the global lime market in 2018, owing to the
high consumption of quicklime in metal manufacturing applications.
·
In terms of application, the metallurgical segment
dominated the global lime market in 2018, due to its high
consumption as a flux to remove impurities efficiently in the steel
manufacturing industry, and rise in adoption in non-ferrous metal manufacturing
operations.
·
The lime market in Asia Pacific is estimated to
expand at a CAGR of ~ 6% during the forecast period, led by
growth in metal manufacturing and construction industries in the region.
·
The emission of air pollutants such as sulfur
dioxide, carbon monoxide, and nitrogen oxide during the production of lime
leads to environmental hazards. This is estimated to hamper the demand for lime
due to the rise in the implementation of stringent environmental norms,
primarily in North America and Europe.
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Flourishing
Construction Industry and Rise in Application in Wastewater Management to Fuel
Global Lime Market
·
Lime is employed as an anti-stripping agent and
binding agent in the building & construction industry. Furthermore, lime
can be utilized for soil stabilization in road construction, and airfield and
building foundations.
·
Rise in public and private investments and
governmental focus on establishing basic infrastructure in emerging economies
such as China, India, and Brazil have boosted the construction industry in
these countries. Improvements in the standard of construction and considerable
renovation activities in developed countries of North America and Europe are
augmenting the demand for lime. Thus, growth in the construction industry is
positively impacting the lime market.
·
Lime is an excellent alkali that can neutralize
natural and industrial acids. This can lead to the creation of neutral solid
wastes, which are easy to dispose. Furthermore, lime treatment cleanses
wastewater, and allows it to return to its natural environment. Lime treatment
can be employed in residential sewage and industrial wastewater. Thus, increase
in awareness about wastewater treatment is anticipated to fuel the demand for
lime during the forecast period.
Availability of
Alternatives to Pose Significant Challenges to Lime Market
·
Calcined gypsum, limestone, and magnesium hydroxide
are the key alternatives to lime. Calcined gypsum can be employed in industrial
plasters and mortars, while magnesium hydroxide can regulate the acidity of
material, efficiently.
·
Limestone can be used as a flux and sulfur removal
agent. Furthermore, limestone is available at lower costs as compared to lime.
Thus, the availability of alternatives is estimated to pose significant
challenges to the global lime market.
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Asia Pacific
Expected to Remain Highly Lucrative Region of Global Lime Market
·
In terms of value, Asia Pacific accounted for ~
65% share of the global lime market in 2018.
·
Constant demand for lime in the metal manufacturing
industry owing to ongoing industrial development activities in China, India,
and ASEAN countries is driving the demand for lime.
·
Increase in construction activities due to rapid
urbanization is also anticipated to propel the demand for construction
materials during the forecast period. This, in turn, is projected to boost the
lime market.
·
Surge in wastewater management owing to rise in
awareness about water pollution among end users is augmenting the demand for
cleaning agents in Asia Pacific. This, in turn, is likely to fuel the demand
for lime in the region.
Global Lime Market:
Competition Landscape
·
The global lime market is highly fragmented, with
the presence of a large number of local and global players. The top five
players held 35% to 40% share of the global
lime market share in 2018.
·
Key players operating in the global lime market are Mississippi
Lime Company, Minerals Technologies Inc., Carmeuse, Graymont, Lhoist India Pvt.
Ltd, Cheney Lime & Cement Company, Linwood Mining & Minerals
Corporation, Pete Lien & Sons, Inc., Cape Lime (Pty) Ltd, Sigma Minerals
Ltd., Valley Mineral LLC, United States Lime & Minerals Inc., Cornish lime,
and Brookville Manufacturing.
Global Lime Market:
Segmentation
Lime Market by
Product
·
Slaked Lime
·
Quicklime
Lime Market by
Application
·
Chemical Intermediates
·
Metallurgical
·
Construction & Environment
·
Agriculture
·
Glass
·
Paper & Pulp
·
Others (including Plastic)
Lime Market – Scope of the Report
Transparency
Market Research’s recent report on the lime market, with the help of a
comprehensive outlook, provides readers with an assessment of the global market
landscape. This study on the lime market analyzes the scenario for the period
of 2019 to 2027, wherein, 2018 is the base year. This report enables readers to
make important decisions with regard to their business, with the help of a
wealth of information enclosed in the study.
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This
TMR study on the lime market also provides data on the developments made by
important players and stakeholders in the market, along with a competitive
analysis. The report also provides an understanding of the strengths,
weaknesses, threats, and opportunities, along with the trends and restraints in
the landscape.
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