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%.
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.
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.
Global Lime Market: Overview
Lime is derived from heating limestone. Lime has basically two product type: quick lime and slaked lime. Manufacturing of lime involves several processes such as pulverizing, crushing, hydrating, and heating. Lime is used in various industries such as chemical, metallurgical, construction, environmental, agriculture, etc. It is used as flux in steel manufacturing to remove impurities such as sulfur, silica, and phosphorus. Lime is one of the key raw materials used in construction. Due to its anti-stripping and binding properties it is highly preferred in construction industry.
Global Lime Market: Drivers and Trends
Rising construction industry is therefore expected to propel the lime market during the forecast period. Demand for lime is projected to increase significantly in the next few years owing to the rise in demand for lime in chemical intermediated segment. It is used in the production of various chemicals including calcium carbide, sodium alkali, citric acid, cyanimide, and petrochemicals. Increase in Demand in Wastewater Treatment is also anticipated to boost the overall market of lime during the forecast period. Asia Pacific dominates the lime market in terms of production and demand. Countries such as China, India, and Japan, are expected to be the key consumers of lime. Europe is the second largest consuming region. Air pollution is one of the major factors expected to hamper the lime market during the forecast period. Also, availability of alternatives materials is anticipated to adversely affect the lime market in the next few years.
This report analyzes and forecasts the market for lime at the global and regional level. The market has been forecast based on volume (Million Tons) and revenue (US$ Mn) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global lime market. It also covers impact of these drivers and restraints on demand for lime during the forecast period. The report also highlights opportunities in the lime market at the global and regional level.
Global Lime Market: Research Methodologies
The report includes detailed value chain analysis, which provides a comprehensive view of the global lime market. Porter’s Five Forces model for the lime market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein product type and end-use are benchmarked based on their market size, growth rate, and general attractiveness.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, European Lime Association, International Lime Association , USGS Mineral Information, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Global Lime Market: Segmentation
The study provides a decisive view of the global lime market by segmenting it in terms of product type (Quick lime, Slaked lime & others) and end-use such as chemical intermediates, metallurgical, construction, environmental, and others (agriculture, glass, paper and pulp, etc.). These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for lime in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of lime for 2015 and estimated market size for 2016 with forecast for the next eight years. The global market size of lime has been provided in terms of volume and revenue. Market volume has been defined in Million tons, while market revenue is in US$ Mn. Market numbers have been estimated based on product type and end-use of lime. Market size and forecast have been provided in terms of global, regional, and country level markets.
Key Players Mentioned in the Report are:
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
The report comprises profiles of major companies operating in the global lime market. The global lime market is highly fragmented. Key players include Carmeuse, Graymont, Lhoist, Mississippi Lime, Cheney Lime & Cement Company, Pete Lien & Sons, Inc., Cape Lime (Pty) Ltd, Nordkalk, Linwood Mining & Minerals Corporation, Sigma Minerals Ltd., Valley Minerals LLC, United States Lime & Minerals Inc., Cornish Lime, Brookville Manufacturing and Minerals Technologies amongst other manufacturers. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global lime market has been segmented as follows:
Lime Market: Product Type Analysis
- Quick Lime Lime
- Slaked Lime
Lime Market: End-use Analysis
- Chemical Intermediates
- Others (agriculture, glass, paper and pulp, etc.)
Lime Market: Regional Analysis
- North America
- Rest Of Europe
- Asia Pacific
- Rest Of Asia Pacific
- Latin America
- Rest of South America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA