Global Lime Market to be Driven by Growing Construction Industry in the Forecast Period of 2021-2026
The new report by EMR titled, ’Global Lime Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global lime market assessing the market based on its segments like type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 47 Billion
- Forecast CAGR (2021-26): 4%
- Forecast Market Size (2026): USD 59.5 Billion
In terms of development, Asia Pacific is the most productive area. In the coming years, the area is expected to maintain its healthy growth rate. It is one of the most rapidly expanding lime industries. The rapidly growing construction industry in the area, especially in China and India, is boosting the lime industry. The growing demand for hydrated lime is being fueled by the booming construction industry. The steel industry in the area is also experiencing substantial growth, which is driving up demand for lime. The Chinese government and private companies’ increased investments in the building and infrastructure industries have boosted demand for the product.
Industry Definition and Major Segments
Lime is a white caustic alkaline substance made up of calcium oxide that is produced by heating limestone and combining it with water to create a large amount of heat and quicklime.
The following are the different types of the product:
- Quick Lime
- Hydrated Lime
The product finds its application in the following sectors:
- Metallurgical Applications
- Chemical and Industrial
- Construction Applications
Metallurgical applications represent the dominant application sector, accounting for 37% of the product’s applications globally.
The report also covers regional market like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The rising construction industry around the world is driving the global lime industry. The construction industry is rapidly expanding, especially in developing economies such as India and China. The expansion is aided by the rising economies of the countries and their increasing populations. To meet the population’s housing demand, the area is seeing an increase in construction activity. Recent anti-dumping tariff policies in the United States, as well as new regulations in China, are affecting the steel industry, which would help the lime industry expand. The demand for lime is also being driven by the growing steel industry. Hydrated lime is used to protect steel products from corrosion and impurities.
Key Market Players
The major players in the market are Lhoist Group, Carmeuse Group, Graymont Limited, Mississippi Lime Company, Nordkalk Corporation, Ognyanovo K JSC, and Sigma Minerals Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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