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.
·
The lime
market in Asia Pacific is estimated to expand at a CAGR of ~ 6% during
the forecast period, led by growth in metal manufacturing and construction
industries in the region.
·
The
emission of air pollutants such as sulfur dioxide, carbon monoxide, and nitrogen
oxide during the production of lime leads to environmental hazards. This is
estimated to hamper the demand for lime due to the rise in the implementation
of stringent environmental norms, primarily in North America and Europe.
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.
·
Lime is
an excellent alkali that can neutralize natural and industrial acids. This can
lead to the creation of neutral solid wastes, which are easy to dispose.
Furthermore, lime treatment cleanses wastewater, and allows it to return to its
natural environment. Lime treatment can be employed in residential sewage and
industrial wastewater. Thus, increase in awareness about wastewater treatment
is anticipated to fuel the demand for lime during the forecast period.
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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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Asia Pacific Expected to Remain Highly Lucrative
Region of Global Lime Market
·
In terms
of value, Asia Pacific accounted for ~ 65% share of the global
lime market in 2018.
·
Constant
demand for lime in the metal manufacturing industry owing to ongoing industrial
development activities in China, India, and ASEAN countries is driving the
demand for lime.
·
Increase
in construction activities due to rapid urbanization is also anticipated to
propel the demand for construction materials during the forecast period. This,
in turn, is projected to boost the lime market.
·
Surge in
wastewater management owing to rise in awareness about water pollution among
end users is augmenting the demand for cleaning agents in Asia Pacific. This,
in turn, is likely to fuel the demand for lime in the region.
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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.
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The
sustainability aspects have dramatically changes the raw material sourcing
strategies for many businesses in the lime market. Players have
become more responsible toward reducing or managing the waste, are adopting
material informatics equipped with artificial intelligence (AI), and adopting energy-efficient
production processes in order to maximize returns on invested capital.
Regulations,
both region-specific and global, have made massive influence on the
microeconomics of the materials and chemicals sector. Governments are intent on
promoting the reduce the carbon footprint of the entire chemical and materials
manufacturing. As a result, forward-looking organizations in the lime market are
fervently looking for ‘green’ or low-carbon footprint processes across the
entire the value chain. The trend has gained huge momentum from the growing
awareness among customers of the affects that chemicals have on the ecology and
environment.
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