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

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.