Lime Market - Global Industry Analysis 2024 | Research Report

Global Lime Market: Snapshot

Lime is an important element in civil engineering and construction materials. In chemical industry, lime is used as chemical reagent in the production of various chemicals. It is extensively used in the metallurgical industry and in numerous other downstream manufacturing industries including glass, and paper and pulp among others. Increase in usage of lime in the production of precipitated calcium carbonate is expected to drive the lime market during the forecast period. According to the research report, the global lime market was valued at US$44.84 bn in 2015 and is expected to be worth US$76.48 bn by the end of 2024. During the forecast period of 2016 and 2024, the global market is expected to surge at a CAGR of 6.2%.

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Quick Lime to Remain Popular Over Forecast Period

Based on type, lime can be classified as quick lime, slaked lime and others. Of these, quick lime held a prominent share and contributed more than 65% of the lime market in 2015 in terms of revenue. It is likely to remain dominant market during the forecast period, owing to its popularity of usage in metallurgical industry. However, increase in demand for lime in construction and environmental segment is anticipated to boost the demand for slaked lime during the forecast period. Slaked lime is forecasted to exhibit high CAGR of more than 5% by 2024.

Lime can be classified based on end-use such as chemical intermediates, construction metallurgical, environmental and other end-use. On the basis of end-use, metallurgical segment held a major share of more than 50% in 2015 and is likely to remain dominant segment for lime for next few years. However, construction segment is anticipated to be more lucrative segment for lime and is forecasted to exhibit high CAGR of more than 5% during the projected period. Rapid urbanization and revival in construction industry in regions like Asia Pacific and Middle East & Africa are the major drivers which is likely to contribute the demand for lime during the forecast period.

Asia Pacific Market Soars as Demand for Lime Increases with Rising Construction Activities

Rising infrastructural development and building & construction activities especially in Asia Pacific and Middle East region to satisfy the need of ever increasing population propel the demand for lime during the forecast period. Asia Pacific held the largest market share of more than 70% of the global lime market in 2015, in terms of volume. As this growth remains steady, the region is expected to retain its dominance during the forecast period. Rise in demand for lime in environmental segment is anticipated to boost the market for lime in Europe region during the forecast period. Growth in the chemical intermediates end-use segment is estimated to be one of the key factors driving the market in North America. Slow and steady growth in construction and metallurgical segment in Europe region is expected to slightly hinder the lime market in the region. Nevertheless, the global lime market is projected to expand impressively in developing regions during the forecast period.

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The global Lime market is highly fragmented with the major players dominating the global Lime market. Some of the key players operating in the global lime market are Carmeuse, Graymont, Lhoist, Mississippi Lime, Pete Lien & Sons, Inc., Cheney Lime & Cement Company, Cape Lime (Pty) Ltd, Linwood Mining & Minerals Corporation, Nordkalk, Sigma Minerals Ltd., Valley Minerals LLC, Cornish Lime, United States Lime & Minerals Inc., Minerals Technologies, and Brookville Manufacturing.

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