Press release
Limestone Market Expected to Hit $100.85 Billion by 2028 at 6.5% CAGR, Driven by Infrastructure and Environmental Trends
Limestone Market Report
Limestone Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $100.85 billion In 2028 At A CAGR Of 6.5%:
The limestone market size has grown strongly in recent years. It will grow from $73.28 billion in 2023 to $78.41 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to historical economic cycles and industrial growth, construction boom and infrastructure development, industrial applications, agricultural practices, architectural heritage and restoration.
The limestone market size is expected to see strong growth in the next few years. It will grow to $100.85 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to changing consumer preferences and design trends, infrastructure development projects, growth in construction industry, rise in cement production, environmental regulations and sustainable practices. Major trends in the forecast period include restoration and heritage preservation, interior design and decorative use, renewable energy and water treatment, global economic expansion, agricultural applications.
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Limestone Market Major Segments
The limestone market covered in this report is segmented -
1) By Type: Magnesian Limestone, High-Calcium Limestone
2) By Size: Crushed Limestone, Calcined Limestone (PCC), Ground Limestone (GCC)
3) By Application: Industry Lime, Refractory Lime, Chemical Lime, Construction-Based Lime
4) By End User: Paper And Pulp, Water Treatment, Agriculture, Building And Construction, Plastics, Food And Beverage, Other End-Users
Key Driver - Limestone Market Surges On Construction Boom
The increasing demand from the construction industry is driving the growth of the limestone market. The construction industry has surged after the pandemic as many construction projects were stuck due to lockdowns. Cement is manufactured using limestone as a raw material. Cement is an important element in the construction industry because it is used in various construction mixtures, such as manufacture of composite concrete block, to meet specific needs in holding building blocks. According to the U.S. Census Bureau report on monthly construction spending in 2022, the construction spending was expected to be $1,744.8 billion in April 2022, a 0.8% rise from the revised March 2022 estimate of $1,740.6 billion. Therefore, the increasing demand from the construction industry is propelling the limestone market.
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Prominent Trend - Product Innovation Surges In Limestone Market
Product innovations have emerged as a key trend gaining popularity in the limestone market. Major companies operating in the limestone market are developing innovative products to increase their profitability in the market. For instance, in June 2023, Holcim Group, a Philippines-based cement manufacturer launched Holcim Optimo. Holcim Optimo (PLC), a novel cement product, matches the strength of ordinary Portland cement (OPC) but slashes CO2 emissions by 10%. Infused with limestone additives, it maintains workability and durability, and seamlessly pairs with other additives like slag and fly ash. Tailored for substantial construction projects, Holcim Optimo aligns with Holcim Philippines' dedication to eco-friendly solutions, bolstering its innovative and sustainable product range amid rising green demand in the country.
Limestone Market Players
Major companies operating in the limestone market report are Mitsubishi Materials Corporation, Gulshan Polyols Ltd., Imerys S.A., Rock Chemical Industries Group (India) Pvt Ltd., Lhoist Group, Omya AG, RSMM Limited, Elegant Natural Stones Pvt Ltd., CARMEUSE & CIE, United States Lime & Minerals Inc., The National Lime & Stone Company, Sigma Minerals & Chemicals Ltd., Schaefer Kalk GmbH & Co KG, ss-industries, Chirag Minerals Pvt Ltd., Kerford Limestone Inc., Aditya StoneX Pvt Ltd., Jay Minerals Pvt Ltd., Agarwal Min Chem, Raj Associates, Indo Chemicals Pvt Ltd., Ryokolime Industry Co Ltd., Srinath Enterprises Pvt Ltd., Shree Sal Calnates India Pvt Ltd., Kunal calcium, Calspar India Ltd., Durga Lime Industries Pvt Ltd., AR Stone Craft, Krishna Mines & Minerals Ltd., Maharaja Stones Pvt Ltd., Zantat SDN Bhd., CAO Industries SDN Bhd., Uniko Calcium Carbonate Industry SDN Bhd., Kaolin International Pvt Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the limestone market in 2023. The regions covered in the limestone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Limestone Market Report Structure
3. Limestone Market Trends And Strategies
4. Limestone Market - Macro Economic Scenario
5. Limestone Market Size And Growth
…..
27. Limestone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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