Global Lime Market: Analysis and Forecast 2022-2027
Lime Market by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices
The global lime market size reached a value of USD 40.5 billion in 2021. The industry is further expected to grow at a CAGR of about 3.3% in the forecast period of 2022-2027 to reach a value of USD 48.6 billion by 2027.
Like other industries, the COVID-19 impact negatively affected the global production of lime and disturbed its export and import activities, however, the increasing worldwide demand for lime by the growing construction industry primarily in the emerging countries along with the rising steel industry has helped the market growth of lime. The vital demand indicator is the highest category spender by are – Asia Pacific.
Lime: Market Definition and Segmentation
A significant chemical additive, lime, is largely utilised for various industrial purposes like chemicals, metallurgy, environmental, and construction. It is a low-cost commodity that is manufactured in enormous quantities. Lime is a calcium-containing inorganic mineral compound composed primarily of oxide and hydroxide. Lime is a versatile chemical that is widely utilised in the metallurgy industry and is gaining popularity in the chemical and manufacturing industries.
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The lime market industry report comprises segments by:
Type – Quick Lime and Hydrated Lime
Application – agriculture, building material, mining and metallurgy, water treatment, and others
Region-wise – North America, Europe, Asia Pacific, South America, and the Middle East and Africa
Snapshot of the Report
The regional markets for the industry can be divided into North America, Asia Pacific, Europe, South America, and the Middle East and Africa.
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The steel sector uses lime in the manufacturing procedure as a key component. There is an immense demand for steel products in the last few years due to the rising focus and involvement of the governments in China, India, Brazil, and South Africa to construct a strong infrastructure and residences for the growing population in these regions, therefore steel demand has become one of the primary drivers for the lime industry’s market growth at a global level.
Besides, toxic water consumption by millions of people around the world is resulting in major transmissible diseases like diarrhoea, cholera, and typhoid. Hence, governments and organisations such as the UN and US EPA, have laid down a legal structure to determine the quality standards for drinking water.
hydrated lime product helps in changing the acidity of industrial and mining wastewater and removes contaminants such as phosphorus and nitrogen therefore its usage in treating water has gained major footing.
Likewise, since quicklime product absorbs and neutralises SOx emissions and hence, prevents acid rains, it is used to clean chimney gas released by industries, powerplants, and waste incinerators. Hence, the rigorous environmental conservation requirements are expected to drive the demand for lime.
Category Insight by Region
During the forecast period, the Asia Pacific region is likely to lead the worldwide Lime market, mainly aided by its higher application in the industries in China. China is the leading country to manufacture various metal products such as steel, aluminium, and gold. Moreover, the rising emphasis on the development of infrastructure in both India and some parts of Southeast Asia is demonstrating as an important driver for the tremendous progress of the regional lime market.
Additionally, North American lime market is predicted to develop additionally in the upcoming years due to the release of new administrative policies to improve and expand the infrastructural activities. The manufacturing volume in Europe is almost two-fold in comparison to North America.
The main reason behind the region’s growth in the lime market is the development of steel production to meet the needs of the invigorating automotive industry. Adding further there is a great demand of lime arising from the paper and plastic manufacturing sectors as it is used to cure wastewater and duct gases delivering an outstanding prospect to grow for the industry players.
Best Procurement Practices
The global Lime Market by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of lime products across the globe, such as engagement models, contract terms, buyer, and supplier negotiation levers, among others.
Category Management Studies
Lime is produced from the key raw materials, limestone, and chalk when exposed to temperatures above 800 degrees Celsius during the calcination process, which breaks down the carbonate compound into highly corrosive calcium oxide or quicklime and releases carbon dioxide.
The manufacturing of lime comprises various processes such as crushing, pulverizing, heating, and hydrating and is called a lime cycle. The procedure for lime production varies according to the required product and application. The first product formed by the lime process is quicklime and hydrated lime is produced by adding water to the quicklime.
Key Supplier Profiles included in the Global Lime Market
The major players in the industry are Lhoist Group, Carmeuse Group, Graymont Limited, Mississippi Lime Company, Nordkalk Corporation, Sigma Minerals Limited, and Ognyanovo K JSC, among others.
Key aspects including capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market are covered in the industry report.
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