Limestone Market for Agriculture (Product Type - Normal and Granular/Palletized) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025
Press Release :
Global Limestone Market for Agriculture: Snapshot
A copious number of local and international players makes the global limestone for agriculture market highly fragmented in nature. In order to stay ahead of the curve, players are seen adding to their production capacities, particularly in fast-expanding, populated economies of China and India, where demand is high and labor and land is cheap. Big companies are also banking upon mergers and acquisitions to increase their geographical outreach.
At the forefront of driving demand for limestone for agricultural sector is the thrust on sustainable means of farming worldwide, in order to feed the ever-growing population. It helps to neutralize excess acidity in soil, which may be caused by acid rain and thus make the condition favorable for the growth of crops or plants.
As per a report by Transparency Market Research, the global limestone market for agriculture will likely clock a CAGR of 6.1% during the period from 2017 to 2025. Rising at this pace, the market which was worth US$321.4 mn in 2016 is projected to become worth US$545.7 mn by 2025.
Powdered Limestone Command Greater Market Share due to Lesser Price
Depending upon the product type, the two broad segments of limestone for agricultural purpose are powdered and granular or palletized. Of the two, the powdered limestone, which is also known as normal, dominates in terms of market share on account of its myriad advantages. First, on account of their small size, normal limestone can be broken down easily and thus the neutralization process can be initiated faster. It can be spread more effectively on the soil surface, as compared to palletized or granular form of limestone, which is applied to a limited space and is unable to spread and break down easily due to its compact shape and size. In addition, powdered limestone costs less than the granular form and does not require expert knowledge for application.
Vast Swaths of Arable Land Make Asia Pacific Dominant Market
From a geographic standpoint, Asia Pacific dominates the global market for limestone in agriculture. This is because savvy manufacturers have been focusing on expanding their business in the region of Southeast Asia, to tap into the considerable opportunities it provides. This is because of the massive tracts of arable land and the rising awareness about using nontoxic compounds such as limestone for agriculture. The major share of agriculture in a nation’s economy in the region along with the growing demand for food is expected to help its overall market register maximum CAGR of 6.9% from 2017 to 2025. Rising at this pace, the revenue in the market is expected to reach US$294.13 mn by 2025.
North America trails Asia Pacific vis-à-vis market share. The use of limestone in agriculture is projected to rise in the two regions because of the non-toxic nature of the product and its affordable price. It is a preferred product for neutralizing the pH of soil. While the market in North America is expected to rise at a CAGR of 5.6% in the forecast period to pull in a revenue of US$104.98 mn by 2025, the market in Europe is predicted to expand at a CAGR of 4.2% to rake in a revenue of US$82.71 mn by 2025.
Some of the key players in the global limestone market for agriculture are Nordkalk Corporation, Minerals Technologies Inc., Leiths (Scotland) Ltd., and Sibelco.
Global Limestone Market for Agriculture: Overview
Limestone is a form of sedimentary rock, which is formed due to pressure. It generally contains 50% of calcite, which is a form of calcium carbonate. It is made up from different sources. It is used in wide range of applications such as construction, agriculture, glass and steel making and many more. In agriculture, it serves the purpose of neutralizing the pH of soil. The neutralization value of limestone depends on factors such as texture, size and shape of the limestone. Unlike other chemicals, it can be applied on the soil surface at any time of the year.
For agricultural purpose, limestone is available in normal (i.e. powdered) form or in the granular or palletized form. The use of normal limestone is comparatively more in agriculture since it can be easily applied on the soil surface and gets broken down easily due to its fine particle size, hence accelerating the speed of activity and increasing its effectiveness as compared to the limestone available in the palletized form.
The limestone market for agriculture is well developed in Asia Pacific, followed by North America. Various developments in the agricultural industry coupled with rising awareness regarding the use of limestone instead of harmful chemical fertilizers is a major driving factor for the growth of the overall market.
The report estimates and forecasts the limestone market for agriculture on the global and regional levels. The study provides forecast between 2017 and 2025 based on volume (million tons / kilo tons) and revenue (US$ Bn / US$ Mn) with 2016 as the base year. The report comprises an exhaustive value chain analysis for each of the segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the limestone market for agriculture along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the limestone market for agriculture market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of limestone market for agriculture and global average price trend analysis.
The report includes Porter’s Five Forces Model to determine the degree of competition in the limestone market for agriculture. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and regions have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for limestone for agriculture between 2017 and 2025.
Global Limestone Market for Agriculture: Segmentation
The study provides a comprehensive view of the limestone market for agriculture by dividing it into products and geography segments. The products have been segmented as normal and granular/palletized. These segments have been analyzed based on historic, present, and future trends.
Regional segmentation includes the current and forecast consumption of limestone market for agriculture in North America, Europe, Asia Pacific, Middle East & Africa and South America. Market segmentation includes demand for consumption in all the regions individually.
Global Limestone Market for Agriculture: Competitive Analysis
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Nordkalk Corporation, Minerals Technologies Inc., Leiths (Scotland) Ltd, and others. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
Global Limestone Market for Agriculture: Research Methodology
Secondary research sources that were typically referred to include, but were not limited to, company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ Raw Material literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
The limestone market for agriculture has been divided into the following segments.