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 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.