Lime Market - Global Industry Assessment & Forecast
- 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
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 38.5 Billion|
|Revenue 2028:||USD 44.3 Billion|
|Revenue CAGR (2022 - 2028):||2.4%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
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The Global Lime Market was valued at USD 38.5 Billion in 2021 and is projected to reach a value of USD 44.3 Billion by 2028. The Global Market is anticipated to grow by exhibiting a Compound Annual Growth Rate (CAGR) of 2.4% over the forecast period.
Produced from limestone, Lime is a high-volume, low-cost commodity mineral primarily utilized as a chemical ingredient. Lime is predominantly alkaline and is composed of numerous calcium compounds. Lime is made using several procedures, including crushing, pulverizing, heating, and hydrating. The method varies depending on the desired result and application. The process of turning raw limestone into Lime is known as the Lime cycle. In recent times, there is a rapid rise in urbanization. As a result, a significant demand for infrastructural upgrades is resulted and this is attributable to this increased urbanization. In addition, the rise in the middle class and its expendable cash boost new construction activities in emerging nations. These factors are highly promoting the growth of the Lime Market. This factor has, in turn, prompted intervention from both public and commercial parties at the national and international levels for enhanced infrastructure and export opportunities to adjacent nations.
Lime Market Size, 2021 To 2028 (USD Billion)
Additionally, Lime producers have shifted to modern kilns. This shift guarantees efficient crushing, quarrying, and screening to improve Lime usage in several applications. These include building & construction and road construction. The Lime is used for stabilizing clay soils in addition to the applications mentioned above, which is responsible for the significant demand for Lime in the mining industry. The expanding steel industry is another factor driving the demand for Lime. Steel objects are protected from corrosion and impurities using hydrated Lime. It serves as a covering for the goods and helps to balance the acidity of the slag. As a result, the steel industry's development directly affects the product industry's growth. The rising usage of Lime in metallurgical processes like steel manufacturing is driving the industry's expansion. With the help of this substance, aluminum and magnesium are also produced. Furthermore, among other applications, Lime is widely used to purify non-ferrous metals like gold, silver, aluminum, and metal ores.
The Lime Market is segmented based on Product Type, Application, and Region. Based on Product Type, the market is further bifurcated into Quick Lime, Hydrated Lime. Furthermore, based on the Application segment, the market is further divided into Agriculture, Building Materials, Mining & Metallurgy, Water Treatment, and Other Applications.
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Based on Product Type:
The expanding steel industry is a significant factor driving the demand for Lime. Steel objects are protected from corrosion and impurities using Hydrated Lime. It serves as a covering for the goods and helps to balance the acidity of the slag. As a result, the development of the steel industry directly affects the development of the Lime industry. The rising usage of Lime in metallurgical processes like steel manufacturing further drives the industry's expansion. With the help of the Lime, aluminum and magnesium are also produced. It can purify non-ferrous metals like gold, silver, aluminum, and other metal ores. All the factors mentioned earlier are significant factors in boosting the Hydrated Lime Market.
Based on Application:
In the Agricultural sector, Lime is used to improve the Potential of Hydrogen (pH) of the soil to support high crop yield. Minimizing surface crusting, lessening erosion, and increasing water-retentive capacity further enhance the soil's physical structure. Utilizing calcium hydroxide helps plants resist environmental and climatic disturbances, such as floods and drought, by improving water percolation and root penetration. Additionally, it increases the crops' access to nutrients and the efficiency of pesticides. Calcium Hydroxide is primarily added to increase the calcium content and control the soil's pH. All these factors are expected to contribute to the Agriculture segment's growth over the coming years.
Asia Pacific is Forecast to grow at the highest CAGR during the forecast period
Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. Lime has a significant market in the Asia Pacific since there are so many small-scale producers there. Lime is widely exported from China and India. Most Lime producers have merged their businesses to reduce production and operating expenses and boost sales. According to criteria like a company overview, financial overview, business plans, product portfolio, market segmentation, and recent advancements, each of these competitors has been profiled in the Lime Market research.
The key players in the Global Lime Market include- 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. and others.
Segmentation of the Global Lime Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
The global Lime valued at USD 38.5 Billion in 2020 and is expected to reach USD 44.3 Billion in 2028 growing at a CAGR of 2.4%.
The prominent players in the market are 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..
The market is project to grow at a CAGR of 2.4% between 2021 and 2028.
The driving factors of the Lime include
- Expansion of Steel Industry to Fuel Market Growth
Asia Pacific was the leading regional segment of the Lime in 2020.