Lime Market

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.
  • Carmeuse
  • Graymont
  • 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.