Global Lime Market: Key Highlights
- In terms of value, the global lime market is anticipated to expand at a CAGR of ~6% from 2019 to 2027.
- Lime is recognized as a highly diverse ingredient for the downstream manufacturing industry. It is an essential ingredient in steel manufacturing.
- Based on product, the quicklime segment accounted for a major share of the global lime market in 2018, owing to the high consumption of quicklime in metal manufacturing applications.
- In terms of application, the metallurgical segment dominated the global lime market in 2018, due to its high consumption as a flux to remove impurities efficiently in the steel manufacturing industry, and rise in adoption in non-ferrous metal manufacturing operations.
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Flourishing Construction Industry and Rise in Application in Wastewater Management to Fuel Global Lime Market
- Lime is employed as an anti-stripping agent and binding agent in the building & construction industry. Furthermore, lime can be utilized for soil stabilization in road construction, and airfield and building foundations.
- Rise in public and private investments and governmental focus on establishing basic infrastructure in emerging economies such as China, India, and Brazil have boosted the construction industry in these countries. Improvements in the standard of construction and considerable renovation activities in developed countries of North America and Europe are augmenting the demand for lime. Thus, growth in the construction industry is positively impacting the lime market.
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Availability of Alternatives to Pose Significant Challenges to Lime Market
- Calcined gypsum, limestone, and magnesium hydroxide are the key alternatives to lime. Calcined gypsum can be employed in industrial plasters and mortars, while magnesium hydroxide can regulate the acidity of material, efficiently.
- Limestone can be used as a flux and sulfur removal agent. Furthermore, limestone is available at lower costs as compared to lime. Thus, the availability of alternatives is estimated to pose significant challenges to the global lime market.
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Global Lime Market: Competition Landscape
- The global lime market is highly fragmented, with the presence of a large number of local and global players. The top five players held 35% to 40% share of the global lime market share in 2018.
- Key players operating in the global lime market are Mississippi Lime Company, Minerals Technologies Inc., Carmeuse, Graymont, Lhoist India Pvt. Ltd, Cheney Lime & Cement Company, Linwood Mining & Minerals Corporation, Pete Lien & Sons, Inc., Cape Lime (Pty) Ltd, Sigma Minerals Ltd., Valley Mineral LLC, United States Lime & Minerals Inc., Cornish lime, and Brookville Manufacturing.
Global Lime Market: Segmentation
Lime Market by Product
- Slaked Lime
- Quicklime
Lime Market by Application
- Chemical Intermediates
- Metallurgical
- Construction & Environment
- Agriculture
- Glass
- Paper & Pulp
- Others (including Plastic)
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