Lime Market: Infrastructural Needs to Support Rapid Urbanization Generates Demand for Lime By 2024

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%.

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.

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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.

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.

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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.

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