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Global Lime Market – by Product, End Use, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)
Lime Market – Segmented by Product, End Use, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts, Competitive Intelligence, Company Profiles | MarkGenes
Lime is a white, caustic and alkaline substance which is a calcium-containing inorganic mineral in which oxides and hydroxides hold sway. Lime is used for agricultural purposes and also it has been used as the principal binder for mortars and plasters for many years. There are different types of lime such as quicklime, slaked lime, fat lime and hydraulic lime. The global lime market was USD 39.6 billion in 2018 and is estimated to reach USD 47.82 billion by 2025 registering CAGR of 2.73% during the forecast period.
Growth by Region
Asia Pacific region holds the largest market share of more than 70% due to the rising infrastructural development as well as increasing building and construction activities in the region. The region’s main intention is to satisfy the need of ever increasing population thus propelling the demand for lime during the forecast period. Meanwhile, the rise in demand for lime in the environmental segment is expected to boost the market for lime in Europe. While slow and steady growth in construction and the metallurgical segment in Europe is expected to hinder its growth. On the other hand, growth in chemical intermediates end-use segment is anticipated to be one of the key factors driving the market growth in North America. In the Latin American region, Spain and Argentina are considered to be the largest lime producing country and dominates the market share in exports.
Drivers vs Constraints
The global lime market is mainly driven by the rapid urbanization, industrialization and improved water treatment processes. Chemical industries are also slated to experience a wide growth in the near future, thus providing to be a catalyst for the global market. All these factors over the last few years have led to a steady upsurge in the market growth. However, the growth in the global lime market can be hampered by ever-increasing pollution problems due to harmful byproducts released after burning limestone and lime-based products for making quicklime. The emissions contain nitrogen oxide, sulphur dioxide and carbon dioxide which are hazardous and harmful to the environment.
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Industry Trends and Updates
Carmeuse, a Belgium mining company which produces lime and limestone has officially opened its new lime hydrator and is functioning currently in its Moha site located at Belgium. This new facility allows Carmeuse to increase its production capacity and transform lime into high-performance hydrate especially to meet the most stringent standards in the market, including those required in the food industry.
Lhoist, a Belgium based lime producer has expanded its territory and has invested RM 704 mn to build Asia’s biggest lime plant in Tapah, Perak located in Malaysia. The plant is currently functioning and produces a total of 650,000 tonnes of lime from its quarries.
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