Pune, india, June 12, 2023 (GLOBE NEWSWIRE) -- According to a report published by Fortune Business Insights™, titled "Lime Market Size, Share, Trends and Forecast 2023-2029," the global market was valued at USD 40.07 billion in 2021 and is expected to grow at a CAGR of 2.7% during the forecast period, reaching USD 49.17 billion by 2029, with a projected value of USD 40.94 billion in 2022. Lime is increasingly being used to treat wastewater and duct gases, as it has the ability to contain contaminants such as lead and sulfur dioxide gases. This application is gaining momentum in the market.
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List of Key Players Mentioned in the Lime Report:
- Carmeuse (Belgium)
- Lhoist Group (Belgium)
- Graymont Limited (Canada)
- Mississippi Lime Company (U.S.)
- United States Lime & Minerals Inc. (U.S.)
- Afrimat (South Africa)
- Linwood Mining & Minerals Corporation (U.S.)
- Minerals Technologies, Inc. (U.S.)
- Cheney Lime & Cement Company (U.S.)
- Pete Lien & Sons, Inc. (U.S.)
- Cape Lime (Pty) Ltd. (South Africa)
- Sigma Minerals Ltd. (India)
- Valley Mineral LLC (U.S.)
- Cornish Lime (U.K.)
Competitive Landscape:
Significant Business-associated Declarations by Prime Players to Sway Market Prospects
Major corporations in the market often make significant announcements about new business activities, which can have either positive or negative impacts on the market. These players may acquire other companies, introduce new products, engage in collaborative deals, or form agreements with government institutions, among other actions.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 2.7% |
| 2029 Value Projection | USD 49.17 Billion |
| Market Size in 2022 | USD 40.94 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 227 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Lime Market Growth Factors | Increasing Demand for Product from Steel Industry to Augur Growth |
| Progression of Steel Sector to Trigger Market Growth |
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https://www.fortunebusinessinsights.com/lime-market-104548
Report Coverage:
Our reports are based on a thorough inspection method that focuses on providing accurate information. Our scholars utilize a data navigation technique to assist us in providing reliable estimates and analyzing global market trends in detail. Additionally, our analysts have access to various international and domestic sponsored records to present updated information, ensuring that stakeholders and business experts invest only in essential areas.
Segmentation:
The market is categorized by type into quick lime and hydrated lime. It is also divided by application into agriculture, building materials, mining and metallurgy, water treatment, and other sectors. The market is further segmented regionally into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints:
Progression of Steel Sector to Trigger Market Growth
Lime is primarily utilized in the steel manufacturing industry, as stated by Calcinor, which claims that the use of this metal is essential in steel production. The product is employed in electric arc furnaces, AOD converters, and refining ladles. The demand for steel products has increased significantly in recent years due to the growing infrastructure and housing needs of countries such as China, India, South Africa, and Brazil, driven by government policies to support their growing populations.
Limestone is the main source of lime, obtained by heating it to produce calcium oxide and carbon dioxide from calcium carbonate. The carbon dioxide generated during this process is a greenhouse gas that contributes to various environmental issues, including global warming with severe consequences. Moreover, this manufacturing process is highly energy-intensive, which adds to the industry's overall carbon footprint. These factors are expected to hinder the growth of the lime market.
Regional Insights:
Asia Pacific to Dominate Backed by Dominance of China in the Market
In North America, the market is driven by the construction and infrastructure development industries, especially in the United States and Canada. North America is anticipated to extend in the coming few years. The government officials here have promised infrastructural expansion as one of the determined zones in their expansion tactic.
Europe, the market is primarily driven by the steel and construction industries, with Germany being the largest consumer of lime products in the region. The increasing focus on sustainable construction practices is also expected to drive market growth in the region.
Asia Pacific stood at USD 26.27 billion in 2021 and is expected to dominate the lime market share during the forecast period. The rapid urbanization and infrastructure development in countries such as China, India, and Japan are expected to boost the market growth in the region.
The Latin America market is driven by the construction and agriculture industries, with Brazil being the largest consumer of lime products in the region.
Middle East & Africa, the market is primarily driven by the increasing demand for lime in the oil and gas industry, along with the growing construction and infrastructure development activities in the region.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries/Regions
- Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on the Impact of COVID-19 on the Global Lime Industry
- Supply Chain Analysis & Challenges Due to Covid-19
- Steps Taken by Government / Companies to Overcome This Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Global Lime Industry Analysis, Insights, and Forecast, 2018-2029
- Key Findings / Summary
- By Type (Value and Volume)
- Quick Lime
- Hydrated Lime
- By Application (Value and Volume)
- Agriculture
- Building Material
- Mining & Metallurgy
- Water Treatment
- Others
- By Region (Value and Volume)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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United States Lime Market to Reach USD 2.46 Billion by 2028
Calcium Carbonate Market Size, Share and Growth Report [2023-2030]
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