Press release
Quicklime Market Is Expected To Grow At CAGR Of 4% In The Forecast Period Of 2023-2028
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.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Value (2020): USD 47 Billion
Forecast CAGR (2023-2028): 4%
Forecast Market Value (2026): USD 59.5 Billion
The increasing use of quicklime in the metal industry is fueling market expansion. It is largely employed in the steel sector due to its favorable properties during steel production. The usage of quicklime is increasing in response to the growing demand for better and clearer steel, which is propelling the quicklime industry forward.
Quicklime's corrosion resistance and high-temperature resistance make it appropriate for use as a clinker agent to remove impurities during steel manufacture. Because steel is one of the most extensively used alloys in a variety of important industries, demand for quicklime is also on the rise, boosting the industry's growth.
Furthermore, several research projects aimed at using zinc dust particles created during steelmaking are driving up demand for quicklime. The possibility of separating zinc by mixing its oxide with quicklime to facilitate the latter's decomposition for further application is boosting market expansion.
Quicklime Industry Definition and Major Segments
Quicklime, also referred to as calcium oxide, is a chemical substance made by heating limestone to a high temperature. It is cost-effective and has a variety of great features, including corrosion resistance, high permeability, and temperature resistance, which is why it is widely used in important industries like construction, metal, and mining.
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Based on Form, the market covers:
Large Lump Quicklime
Crushed or Pebble Quicklime
Ground Quicklime
Pulverized Quicklime
Others
Based on type, the market is divided into:
High Calcium Quicklime
Magnesium Quicklime
Dolomitic Quicklime
Others
Based on application, the market is categorised into:
Metallurgy
Building and Construction Materials
Water Treatment
Mining
Chemicals
Others
The major regional markets include:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Quicklime Market Trends
The usage of limes in non-ferrous metal mining is driving up demand for quicklime to improve metal temperature resistance and reactivity, promoting market growth. The activities of such metals are expanding as a result of the increased demand for elements such as copper, which is biodegradable. As a result, the usage of quicklime as a settling aid to maintain the alkalinity of copper ores is increasing, propelling the market forward.
Furthermore, the need for pH control in mining to avoid the loss of key metals and reagents is driving up demand for quicklime, which is propelling the market forward.
Quicklime's application in the electrolytic refinement of metals like copper is expected to boost the market growth. Quicklime's cost-effectiveness also makes it ideal for widespread use in a variety of industries, including construction and oil and gas. Quicklime's biodegradable and long-lasting qualities are expected to boost the industry's growth during the projection period.
Key Market Players
The major players in the market are Carmeuse Group, Mississippi Lime Company, Cape Lime (Pty) Ltd, Sigma Minerals Ltd, Nordkalk Corporation, among others.
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