Lime Market (Product: Quicklime and Slaked Lime; and Application: Chemical Intermediates, Metallurgical, Construction & Environment, Agriculture, Glass, Paper & Pulp, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
- Chemicals & Materials
- 227 Pages
Lime Market: Application in Construction and Steel Manufacturing Gaining Traction
Lime has been widely used in various building and construction techniques for more than 5,000 years. The durability, resilience, and water-resistant properties of lime make it an ideal material for construction activities, especially among those that involve using natural materials. Lime is one of the very few mineral derivatives that can be used to manufacture steel – a factor that has played an imperative role in its high uptake for steel manufacturing, thus, aiding the growth of the lime market, worldwide. While quicklime is extensively used as a flux agent to get rid of impurities in steel, slaked lime finds application across the construction sector around the world. The quicklime segment within the lime market, is thus, expected to account for three-fourth of the total share, and attain a market value of ~US$ 50 Bn at the end of the forecast period (2019-2027).
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Growing Adoption of Lime to Enhance Engineering Properties of Soil Being Observed
Lime is extensively used to modify and improve the engineering properties of soil, i.e. the load-bearing threshold and workability. Further, it also plays a critical role in improving the impermeability and workability of soil. Lime kiln dust and quicklime are being increasingly used across the construction sector to dry wet soil, which provides an enhanced working surface. Further, owing to its critical role in soil stabilization and modification, its demand for construction applications is projected to witness a 1.7x increase over the forecast period. Although lime can enhance the properties of all types of fine-grained soils, the most notable change can be witnessed in clay soils that have moderate to high plasticity.
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The application of lime in clay soil alters the moisture-retention capacity and simultaneously enhances the stability of the soil. However, it is critical to add the right quantity to the reactive soil to achieve the desired outcome. Soil stabilization ensures long-term durability and enhances the shear strength of the soil, making it favorable for construction and building activities. At the back of the growing demand for lime within the construction sector around the world, the global lime market is set to grow at a healthy pace over the assessment period.
Stringent Regulatory Framework Boosts Demand in Wastewater Treatment Processes
Wastewater treatment processes have garnered significant popularity in the past couple of decades, as biological and chemical contamination in water has emerged as a major concern for government authorities, industrial companies, and society as a whole. A majority of international and domestic industrial activities produce large volumes of wastewater that contains toxic chemicals. The adoption of lime for wastewater treatment is on the rise, as it modifies the pH and alkalinity in flocculation, biological treatment, and coagulation treatment processes. The demand for slaked lime in acid neutralization processes is witnessing an upswing, owing to its cost-efficiency and favorable chemical properties. Industrial wastewater is acidic in nature, and if left untreated, causes significant damage to the environment. To address this problem, stringent regulations pertaining to wastewater treatment and disposal are being introduced by governments across the world. Within the past few years, a notable rise in government investments toward industrial and sewage wastewater can be observed. Further, the growing adoption of highly-efficient and stable wastewater treatments has increased the demand for lime, thereby offering promising growth prospects for market players operating in the global lime market.
Stakeholders Turn toward Mergers & Acquisitions to Improve Footprint in Lime Market
Prominent and well-established participants in the lime market are focusing on improving their production capabilities to meet the growing demand for lime for wastewater treatment, soil modification, manufacturing of steel, and metallurgical applications, among others. In addition, companies are also aiming to expand their product portfolios to stay relevant in the current lime market landscape, by entering into strategic alliances with domestic players in regional lime markets.
For instance, Sibelco entered into an agreement with some of the leading companies in the lime market – Grupo Calidra and Graymont. Graymont revealed that, the acquisition of Sibelco’s operations in Malaysia, Indonesia, Australia, and the Philippines will enable the company to expand its presence across the Asia Pacific region, where, ~547,500 tons of lime is expected to be sold in 2027.
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Analysts’ Viewpoint of Global Lime Market
The Asia Pacific region offers a plethora of opportunities for companies operating in the lime industry, owing to significant rise in the number of construction activities in nations such as Indonesia, China, Malaysia, and India. Market players should target these regions to expand their presence in the current landscape, by focusing on enhancing the functional properties of their products. High adoption in metallurgical applications is expected to continue over the assessment period. Further, with an established regulatory framework pertaining to wastewater treatment in place across various regions across the world, the lime market is set to surpass the US$ 65 Bn mark by the end of 2027.
Global Lime Market: Highlights
- Lime is a chemical manufactured from calcium carbonate rocks such as limestone (CaCO3) and dolomite (CaCO3*MgCO3). Lime can be segregated, more specifically, into quicklime, which is calcium oxide (CaO) or calcium-magnesium oxide (Ca*MgO), and slaked lime (also called hydrated lime), which is produced by mixing its oxide forms with water.
- Lime is utilized as a chemical reagent in the production of several compounds, including calcium carbide, sodium alkali, citric acid, cyanimide, petrochemicals, magnesia, and propylene glycol glycerin. These chemicals, in turn, are used in the production of consumer goods such as glues, soaps, sugar cubes, and leather products.
- The presence of established construction and infrastructure industries in developing economies, such as China, India, and countries in GCC, backed by rising private and public investments, is anticipated to drive the demand for building materials, including slaked lime, in applications such as mortars, plasters, and cement in the near future.
- Moreover, slaked lime is utilized in the food & beverages industry due to its mild taste and low toxicity. Increasing demand for processed food led by increase in disposable income is anticipated to positively impact the demand for slaked lime across the globe during the forecast period.
- In terms of value, the global lime market is anticipated to expand at a CAGR of ~ 6% during the forecast period, and reach a value of US$ ~65.4 Bn by 2027.
- Among the products, the quicklime segment held a major share of the global market in 2018, due to its high usage in the production of iron, steel, paper, and pulp, as well as in the mining industry.
- Among the applications, the metallurgical segment accounted for a key share of the global lime market in 2018, owing to the efficiency of lime as a flux for the removal of impurities.
- However, the construction & environment segment is anticipated to expand at a rapid pace during the forecast period. Increase in construction activities across the globe and rise in the consumption of lime in wastewater treatment are likely to propel the segment in the global lime market during the forecast period.
- Asia Pacific was the leading region of the global lime market in 2018. The lime market in the region is estimated to expand at a significant CAGR from 2019 and 2027.
- Limestone, calcium gypsum, and magnesium hydroxide are substitutes for lime, which can be employed in various applications such as fluxing, agriculture, and sulfur removal. Furthermore, environment-related concerns about pollutants such as sulfur dioxide, carbon dioxide, and nitrogen oxides emitted during the production of lime are projected to hamper the global lime market during the forecast period.
High Demand for Lime in Metallurgical Applications
- The steel industry is a major consumer of lime. Around 50% of the total production of lime is consumed in the metal manufacturing industry. Lime is utilized as a flux for removing impurities such as silica, phosphorus, and sulfur. Industrial production of lime helps achieve quality steel, primarily in terms of purity required in modern steel applications.
- Lime plays a vital role in the production of non-ferrous metals as well. Lime can be utilized to treat copper ore; extract uranium; and recover gold as well as silver. Lime is employed in producing alumina and magnesia to manufacture aluminum and magnesium, respectively.
- Thus, increasing demand for steel and other metals from automotive and other manufacturing industries across the globe, including developing economies such as China, India, and Brazil, is anticipated to drive the demand for lime for use in metallurgical applications during the forecast period
Asia Pacific to Maintain Dominance in Global Lime Market
- In terms of value and volume, Asia Pacific constituted a prominent share of the global lime market in 2018. This can be ascribed to the constant demand for lime in construction activities in the region.
- Growth of end-use industries in Asia Pacific, such as building & construction, can be ascribed to rise in the population and increase in the disposable income of people in developing countries such as China, India, and Indonesia, during the forecast period.
- Furthermore, growth of the metal manufacturing industry led by the presence of established automobile and other manufacturing industries in these countries fuels the demand for lime in the region. Increasing number of water treatment plants led by favorable government initiatives is projected to drive the lime market in Asia Pacific during the forecast period.
- The lime market in Asia Pacific is projected to expand at a rapid pace during the forecast period. North America and Europe also held a considerable share of the global lime market in 2018. The lime market in these regions is likely to expand at a moderate pace during the forecast period.
Global Lime Market: Competition Landscape
- The report comprises detailed profiles of major players operating in the global lime market. The report also consists of a comparison matrix of the top two players operating in the global market along with application mapping for 2018.
- Prominent players operating in the global lime market are
- Mississippi Lime Company
- Minerals Technologies Inc.
- Lhoist India Pvt. Ltd
- Cheney Lime & Cement Company
- Linwood Mining & Minerals Corporation
- Pete Lien & Sons, Inc.
- Cape Lime (Pty) Ltd
- Sigma Minerals Ltd.
- Valley Mineral LLC
- United States Lime & Minerals Inc.
- Cornish lime
- Brookville Manufacturing
- The global lime market is fragmented in nature, with the presence of a large number of global as well as local players. Companies are primarily focusing on the development of products for emerging applications of lime, such as water treatment.
Lime Market – Scope of the Report
Transparency Market Research’s recent report on the lime market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the lime market analyzes the scenario for the period of 2019 to 2027, wherein, 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the lime market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape.
Report readers are able to make important decisions pertaining to their business with a wealth of information and exclusive lime market insights enclosed in the study. The lime market report also provides an in-depth understanding of key industry trends and developments undertaken by players in the lime market. This TMR report is divided into different sections that allow readers to gain an individual understanding of the global lime market.
This study also discusses the underlying trends and the impact of various factors that are driving the lime market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Forces Analysis, value chain analysis, and regulatory scenario of the lime market, in order to elaborate on the crucial growth tactics and opportunities for players contributing to the market.
Key Questions Answered in Lime Market Report
- How much revenue is the lime market expected to generate by the end of the forecast period?
- Which regions currently account for the maximum share of the global lime market?
- What are the indicators expected to drive the lime market?
- Which region is likely to be lucrative during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the lime market to expand their geographical presence?
- What are the major advancements in the lime market?
This report answers these questions about the lime market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Lime Market: Research Methodology
This TMR report on the lime market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competitive scenario of the lime market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the lime market arrived at predictions and estimations, and calculated the forecasts for the market.
The study on the lime market offers a holistic competitive value judgment, with the details of leading and emerging market players. The dashboard view of the competitors in the lime market report allows readers to understand their business and the strategies implemented by key players, along with their performance in the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the lime market, with the bottom-up and top-down approach.
This detailed assessment of the lime market, along with an overview of the landscape, is provided based on careful examination of the avenues related to this industry. Analysts’ conclusions on how the lime market is set to grow are based on carefully-vetted primary and secondary sources.
Lime Market: Segmentation
This report on the lime market provides information based on product, application, and region.