USD 67.35 billion
Lime Market Size, Share, Growth Analysis, By Type(Quick Lime, Hydrated Lime), By Application(Agriculture, Building Material, Mining & Metallurgy, Water Treatment), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2259 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
64
|Figures:
75
Lime Market Insights
Lime Market size was valued at USD 67.35 billion in 2019 and is poised to grow from USD 72.31 billion in 2023 to USD 126.75 billion by 2031, growing at a CAGR of 7.3% in the forecast period (2024-2031).
One of the most common compounds used worldwide is lime. It is an inorganic mineral made up of oxide and hydroxide compounds that contains calcium. In the calcination process, which transforms basic raw materials like limestone and chalks into highly caustic calcium oxide or quicklime and releases carbon dioxide, temperatures above 8000C are applied to the materials. The product is used extensively as a building and engineering resource, as a chemical feedstock, and for the refinement of sugar crystals. Further, Citric acid, lime oil, lime juice, and other products that are used in domestic foods and duties all have lime as an ingredient. Because of this, there will be greater demand for lime. As a result, the Lime Market will be significantly influenced by the growing interest in lime's health advantages and cleaning applications.
Lime is used across a broad range of industries for a variety of applications such as agriculture, building material, mining & metallurgy, water treatment, and others. The National Lime Association claims that the production of steel is the product's main use. By promoting the development of slag, it acts as a flux promoter and separates impurities like silica and phosphorus. Additionally, it is added to electric arc furnaces and basic oxygen furnaces. Due to its ability to trap pollutants like lead and SOx emissions, the product is increasingly being used to treat wastewater and flue gases. Due to stricter pollution control measures in nations like the US, China, and India. Hence, the rising application of lime products is predicted to gain tremendous scope during the forecasted period.
US Lime Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Quick Lime
Fastest Growth
Quick Lime
Growth Rate
7.3% CAGR
Global Lime Market 2021-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
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Lime Market Segmental Analysis
The Global Lime Market is segmented based on Type, Application, and Region. Based on the Type, the market is segmented into quick and hydrated lime. Based on the Application, the Lime Market is segmented into agriculture, building material, mining & metallurgy, water treatment, and others. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Lime Market Analysis by Type
The Lime Market is divided into two types of lime: quick lime and hydrated lime. Due to the significant demand from the steel manufacturing industry, quick lime had the lion's share in the global lime market. The separation of impurities in the form of slag is aided by the use of such products in the manufacture of 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 particles released following combustion, such as HCl, SOx, and NOx emissions, are filtered or catalyzed. Due to its low cost and extremely low toxicity, it is also used as a flocculant in water and sewage treatment. This will probably benefit the growth of the segment.
Lime Market Analysis by Application
The Lime Market is divided into agricultural, building materials, mining & metallurgy, water treatment, and others. The steel industry is the major consumer of calcium hydroxide, consuming more than 35% of the material produced globally, according to the European Lime Association. It is used to produce alumina and magnesia for the production of aluminum and magnesium, as well as to beneficiate copper ore. By lowering contaminants in the slag, calcium hydroxide is crucial for the extraction of uranium and the recovery of gold and silver from its ores. Additionally, it is used to make the soil more stable over mines in order to lessen the influence of vibrations, strengthening the mining and metallurgy sector.
The product is utilized in mortar and plaster in the building sector because of its high flexibility, workability, and adhesive qualities. The use of calcium hydroxide in masonry improves the ability of walls to support their weight. Thus, the utilization of the product for building material applications will be driven by the expanding construction sector. Additionally, the product is used to treat wastewater from mines and industries. The requirement for the product is anticipated to increase for water treatment applications during the projected period as pollution control policies are stricter in nations like the US, China, and India.
Global Lime Market By Type, 2021 (%)
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Lime Market Regional Insights
During the projected period, the Lime Market is anticipated to be dominated by the Asia Pacific region. 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. In the upcoming years, the Lime Market in North America is expected to grow, attributing to the country’s major focus of its development strategy on infrastructure development.
The US government's Mineral Commodity surveys indicate that approximately 28 businesses were active in North America in 2019 and produced about 18 million tonnes of goods there. According to the European Industry Association, the production volume in Europe is around two times that of North America, with Russia leading the production with 11 million tonnes in 2019. The expansion of the steel industry and the booming automobile sector are both contributing factors to the region's growth. The region's paper and plastic sectors have also increased their demand for the treatment of flue gases and wastewater. For Lime Market participants, this creates a tremendous chance for growth.
Calcium hydroxide use is expected to increase across the Middle East and Africa due to its use in the petrochemical industry. Many organic compounds, including stearates and phenolates, are produced using it. As a result, the market has grown significantly in the region. High demand from the African mining sector has also been a major factor in the market's expansion. The key driver of the Lime Market expansion in the region will be the region's developing steel and construction industries.
Global Lime Market By Geography, 2021 - 2028
- Largest
- Fastest
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Lime Market Dynamics
Lime Market Driver
- Steel Industry Expansion to Drive Market Growth: Steel is primarily made with the help of lime. Without the use of this metal, the steel industry is unimaginable, claims Calcinor. The product is used in AOD converters, electric arc furnaces, and refining ladles. This product has many uses in the steel industry. For example, the use of finely ground product along with limestone to transform ore into pig iron in a blast furnace. It is used as a fluxing agent in electric arc furnaces and elementary oxygen furnaces are the main drivers behind the industry's significant importance accorded to it. Additionally, it aids in cleaning up impurities like silica, phosphorus, and Sulphur from the making of steel process. Additionally, it is used to lengthen the refractory life in the furnaces. Hence, this is likely to create a wide scope for the growth of the Lime Market in the upcoming years.
- Strict Environmental Protection Laws Helping the Market to Grow: The World Health Organization (WHO) predicts that by 2025, half of the world's population would reside in water-stressed places. One of the main ways that cholera, typhoid, cholera, and diarrhea are spread is through contaminated water. Over 470,000 deaths are reportedly caused annually by tainted drinking water, according to the World Health Organization (WHO). Governments and organizations like the UN and U.S. EPA have therefore established a legislative framework on the quality standards for drinking water in order to lessen the effects of polluted water. Additionally, in order to lessen their environmental impact, industries are required to audit their waste outlets. The hydrated product can reduce acidity and eliminate pollutants like phosphorus and nitrogen from mining and industrial effluent. As a result, its application in the treatment of water has greatly expanded. The treatment of chimney gas from factories, power plants, and waste incinerators also uses quicklime. It stops acid rain from happening because it collects and neutralizes SOx emissions. Due to these elements, it is anticipated that strict environmental conservation obligations would drive the product demand.
Lime Market Restraint
- Products with a High Carbon Footprint to Limit the Market Growth: When limestone is burned to create calcium oxide and carbon dioxide from calcium carbonate, it is mostly used to make lime. As a greenhouse gas, the CO2 created during the process causes a number of disasters and global warming, both of which have severe repercussions. Additionally, the energy-intensive nature of this production method raises the industry's overall carbon footprint.
Symptoms of mild carbon dioxide exposure include tiredness, headaches, and nausea. Additionally, prolonged exposure can cause respiratory problems, confusion, increased arrhythmia, high blood pressure, and possibly asphyxia death. Such negative impacts on the health of people and the environment have prompted many customers to look for alternative calcium hydroxide solutions.
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Lime Market Competitive Landscape
To maintain their market position, Lime Market players concentrate on acquisition and expansion strategies. Market-leading companies employ acquisition and expansion as crucial competitive strategies to hold onto their positions. One of the most well-known companies active in the Lime Market is Mississippi Lime Company. For the chemical production, construction, and other end-use industries, the company provides high-calcium compounds and technical solutions. The business operates more than nine manufacturing facilities, six exclusive distribution centers, and five MLD trucking facilities. It has increased its production capacity to suit the customer's need for innovative, premium hydrated lime.
Lime Market Top Player's Company Profiles
- Carmeuse
- Graymont Limited
- Lhoist Group
- Mississippi Lime Company
- United States Lime & Minerals, Inc.
- Mineral Technologies Inc.
- Nordkalk Corporation
- Valley Minerals LLC
- Cheney Lime & Cement Company
- Linwood Mining & Minerals Corporation
- Sigma Minerals Limited
- Minerals Technologies Inc.
- Calcinor S.A.
- LafargeHolcim Ltd
- Omya AG
- Imerys S.A.
- Sibelco Group
- Cimprogetti S.p.A.
- EuroChem Group AG
- Mississippi Lime Company (MLC)
Lime Market Recent Developments
- In May 2022, Air Liquide and Lhoist announced that both companies together will begin a ground-breaking decarbonization project for the French lime industry.
- In July 2021, as a component of SSAB's comprehensive research initiative in Finland, Nordkalk created fossil-free lime. In the initiative, SSAB will collaborate with commercial and academic partners to investigate various approaches and substitutes for producing steel without the use of fossil fuels.
Lime Key Market Trends
- Growing demand from the manufacturing and chemical industries drive the growth. With its use extending in a wide range of industrial applications, lime has shown to be a versatile chemical. Its principal use is in the metallurgical sector, but it is also in high demand from the manufacturing and chemical sectors. The product is used in the chemical industry to produce a number of important compounds, including calcium carbide, sodium alkali, propylene glycol, and cyanamide. It is crucial to the production of goods like citric acid, magnesia, and calcium magnesium acetate. In addition, it is employed in the production of glycerin, citrates, stearates, caseinates, phenolates, and nitrates. The product is in high demand from the paper, sugar, and refractory industries in the manufacturing sector.
- In order to change the pH of the sugarcane juice during sugar refining, a hydrated product is necessary. When the calcium hydroxide [Ca(OH)] combines with the contaminants in the juice, insoluble organic molecules are formed that are simple to separate. To stabilize the formation of zirconium oxide during the fusion or sintering process in the manufacture of refractories, approximately 3% product solution is added. On the other hand, the product is used to manage the whiteness of the paper during the paper-making process by eliminating contaminants from the raw pulp. The fact that calcium hydroxide can be used in so many different industries will be the primary driver of product makers' acquisition of novel distribution channels in the near future, which will support the global lime market.
Lime Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the use of lime in the steel industry is a major driver as it is used in AOD converters, electric arc furnaces, refining ladles, used with limestone to transform ore into pig iron in a blast furnace, as a fluxing agent in electric arc furnaces and elementary oxygen furnaces, etc. Moreover, the environmental laws are also helping this Lime Market to grow as the hydrated product (lime) can reduce the acidity and eliminate pollutants like phosphorus and nitrogen from mining and industrial effluent and therefore finds its use in processes like purification and pre-treatments.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 67.35 billion |
| Market size value in 2031 | USD 126.75 billion |
| Growth Rate | 7.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Lime Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Lime Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Lime Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Lime Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Lime Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Lime Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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