By 2028, Global Lime Market Will Surpass $44.3 Billion at 2.4% CAGR Growth: Says Vantage Market Research

WASHINGTON, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent analysis of the Global Lime Market finds that the increasing steel business is accelerating market growth. In addition, an increase in the construction and mining industries and growth in demand from chemical & manufacturing industries are likely to augment the development of the Global Lime Market during the forecast period. The Global Market revenue was valued at USD 38.5 Billion in 2021.

The Global Lime Market Size is forecast to reach USD 44.3 Billion by the year 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 2.4% during the forecast period; states Vantage Market Research, in a report, titled “Lime Market Size, Share & Trends Analysis Report by Product Type (Quick Lime, Hydrated Lime), by Application (Agriculture, Building Material, Mining & Metallurgy, Water Treatment, Other Applications), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Key Highlights from Report:

• The Quick Lime segment dominated the growth of the Lime Market in 2021 because of the significant demand from the steel industry. The separation of impurities in the form of slag is aided by using such products for manufacturing metals. Steel becomes less brittle as a result, and metal performs better. Hydrated ones are mostly used in waste incinerators, glass & cement factories, and coal fire plants' flue gas treatment or desulphurization processes.
• The Mining & Metallurgy segment dominated the growth of the Lime Market in 2021. According to the International Organising Committee for the World Mining Congresses, mineral production has increased significantly in recent years worldwide. This is primarily due to increased demand for ferrous and non-ferrous metals from various end-use industries such as automotive, construction, shipping, and fabrication, among others, as Lime is primarily used to eliminate impurities during the manufacturing process of iron, steel, copper, alumina, gold, silver, and lead, among other metals.
• Asia Pacific is predicted to mention the fastest growth of the Lime Market during the forecast period. China, where there is a very high concentration of industries, is credited for dominating the region. It is the top producer of several metal goods, including steel, aluminum, and gold. The focus on infrastructure development in the region by India and other Southeast Asian nations will also play a significant role in the market's rapid expansion.
  

List of Prominent Players in Lime Market:

• Adelaide Brighton Limited
• Boral Limited
• Sibelco Australia Ltd
• Omya Australia Pty Ltd.
• Lime Group Australia
• Wagners
• Agricola Mining Pty Ltd.
• Calcimo Lime & Fertilizers Pty Ltd
• CARMEUSE
• United States Lime & Minerals Inc.
• Cheney Lime & Cement Company
• Lhoist.
• Linwood Mining & Minerals Corp.
• Pete Lien & Sons Inc.
• Mississippi Lime Company.
• Graymont Limited.
• Valley Minerals LLC.
• Shanxi Jianqiang Active Lime Manufacturing Co.
• Shandong Zhongxin Calcium Industry Co. Ltd.
  

Market Dynamics:

Driver:

Increasing Steel Industry Worldwide to Drive the Market Growth

Lime Market provides advanced properties such as flexibility, good plasticity, resistance to moisture, low shrinkage, and so on, which raises its demand in various industries. The surge in the steel industry is driving the need for the Lime Market across the globe. Hydrated Lime Market has its use in providing steel products protection from corrosion and impurities in the form of a whitewash coating on steel products and neutralizing sulfuric acid in coke by-product plants. It is similar to a coating on the products that facilitates neutralizing the slag's acid. Hence, the growth in the steel industry is highly responsible for the Lime Market growth. Also, this product is used in the production of aluminium and magnesium. It has extensive applications in refining metal ores and non-ferrous metals such as gold, aluminium, and silver, among others. In addition, its escalating usage in the metallurgical application while producing steel propels the growth of the Lime Market.

Furthermore, the steel products demand has excellently increased in the past few years because of the rising determination of governments in regions like China, India, Brazil, and South Africa to construct a robust infrastructure and houses for the ever-increasing population base in these countries. Besides, Lime Market is broadly used in steel manufacturing as a flux to eliminate impurities such as phosphorus, sulfur, and silica. As a result, the growing demand for Lime Market in steel manufacturing is expected to drive the Lime Market in the coming years.

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Segment Analysis:

• Product Type
  • Quick Lime
  • Hydrated Lime
• Application
  • Agriculture
  • Building Material
  • Mining & Metallurgy
  • Water Treatment
  • Other Applications
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

The report on Lime Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• Historic Data, Estimates, and Forecast
• Company Profiles
• Global and Regional Dynamics

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Regional Analysis:

Asia Pacific Dominated the Global Lime Market

Asia Pacific is dominating the Global Lime Market and will continue to dominate during the forecast period. China and India are major contributors for Lime Market in the Asia Pacific. This region's dominance can be attributable to China, where the concentration of industries is extremely higher. Moreover, it is the most important country that manufactures numerous metal products like steel, gold, and aluminum. Furthermore, the focus of India and Southeast Asian regions on infrastructure development will be a major reason following the high growth of the Lime Market industry in this region. Also, the rapidly rising construction industry, the environmental regulations in China, and the stringent regulations by the Chinese government concerning the emissions by power plants and wastewater treatment plants are driving the regional Lime Market expansion. Besides, the mounting investment by the Chinese government and by private firms in the construction and infrastructure industries is fuelling the demand for the product in the region.

Recent Developments:

July 2021: Finland-based Nordkalk, a manufacturer of limestone-based products, developed fossil-free Lime Market as part of SSAB's extensive research project in Finland. In this project, SSAB will likely work with industrial and research partners to explore different solutions and alternatives to make fossil-free steel.

Key Questions Answered in The Report:

• Which region will show the fastest and highest growth in the near future?
• Which are the top five players and their weakness and strength of the Market?
• What will be the future innovation in the upcoming six years?
• Which application and product will lead the largest share of the Market?
• What are the growth drivers, restraints and challenges of the industry?
• What will be the CAGR and size of the Lime Market for the base year and forecast period?

This market titled “Lime Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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