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Lime Market Segmented By Quick Lime, Hydrated Lime Product in Agriculture, Building Material ,Mining and Metallurgy, Water Treatment
Lime is a high volume-low cost commodity mineral that is produced from limestone and mainly used as a chemical additive. Lime comprises several compounds of calcium and is primarily alkaline in nature. The production of lime involves several processes such as crushing, pulverizing, heating and hydrating. The process differs according to the desired product and application. The processing of raw limestone to form lime is called a lime cycle.
Basically, there are two types of lime available in the market, i.e. quicklime and hydrated lime, and both are used across several applications including cement manufacturing, metal processing, agrochemicals and pulp and paper processing, among others.
The global lime market is estimated to be valued at US$ 40.6 Bn by 2018 end and is expected to reach US$ 50 Bn by the end of 2026, expanding at a CAGR of 2.5% over the forecast period. The global lime market is anticipated to represent an incremental opportunity of US$ 9 Bn between 2018 and 2026.
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According to the International Organizing Committee for the World Mining Congresses, there has been significant growth in the production of minerals across the globe in the recent past. This can be mainly attributed to the increasing demand for ferrous and non-ferrous metals from several end-use industries such as automotive, construction, shipping and fabrication, among others as lime is mainly used to eliminate impurities during the manufacturing process of iron, steel, alumina, gold, silver, copper and lead, among other metals.
Attributing to developments in the metal industry, the demand for lime is anticipated to surge and the market is forecast to register healthy growth in the coming years. Another key factor that impacts the demand for lime is its increasing use in the manufacturing of precipitated calcium carbonate.
Precipitated calcium carbonate, owing to its high calcium content, is widely used in the production of paper, plastics, paints, rubber, calcium-based antacid tablets and multi-vitamin/mineral tablets, among others. Thus, this increase in the use of precipitated calcium carbonate, especially in polymer, paper and healthcare industries, is estimated to provide impetus to the growth of the lime market.
On the other hand, the increasing importance of lime alternatives such as limestone and magnesium hydroxide calcined gypsum is expected to impede the growth of the lime market. Along with this, less storage time is a major challenge faced by manufacturers in the lime market as the physical and chemical characteristics of lime change when it is stored for more than six months.
This can be attributed to the absorption of moisture and presence of carbon dioxide in the atmosphere, which make lime incompatible for use. Moreover, growing infrastructural development, coupled with rapid urbanization in developing regions, drives the global construction material market. This, in turn, is expected to surge the use of lime in cement for mortar and plaster formation.
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Get a Customized VersionFrom a regional viewpoint, the lime market is dominated by China in terms of production and consumption. The lime market in China is projected to witness relatively steady growth over the forecast period, which can be mainly attributed to the rising government and private sector investments in infrastructure development and growing mineral production.
The India lime market is estimated to register a healthy CAGR over the forecast period. In terms of production of lime, China and India accounted for around 68% of the global production in 2016 and are expected to remain the dominant regions over the forecast period. In terms of consumption, Europe and North America, together, are estimated to hold over 23% of the lime market in 2018.
Some of the players reported in this study of the global lime market include Adelaide Brighton Limited, Boral Limited, Sibelco Ltd., Wagners, Lime Group Australia, Shandong Zhongxin Calcium Industry Co., Ltd., Shanxi Jianqiang Active Lime Maufacturing Co., Valley Minerals LLC, Graymont Limited, Mississippi Lime Company, Pete Lien & Sons, Inc., Linwood Mining & Minerals Corp., Lhoist, Cheney Lime & Cement Company, United States Lime & Minerals Inc. and Carmeuse, among others.
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