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The lime market is estimated to increase by 36.7 MTPA between 2022 and 2027. The size of the market is forecast to grow at a CAGR of 3.78%. The market is expected to grow due to several key factors. Firstly, the construction sector's anticipated expansion is expected to drive demand for limestone as a primary building material. Secondly, there is a heightened focus on wastewater recycling, making the use of limestone in this process increasingly important. Additionally, the adoption of lightweight machinery across various industries is contributing to the market's growth. However, challenges persist, including environmental concerns arising from limestone mining, potential health risks associated with hydrated limestone variants, and logistical obstacles related to distribution. Despite these challenges, the market's growth potential remains significant, particularly in sectors such as construction, manufacturing, and water treatment.
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The market share growth by the hydrated lime segment will be significant during the forecast period. Hydrated variant is formed by the reaction of calcium oxide with water. The material can be in the form of either dry hydrate or a paste which is called slurry, depending on the amount of water used. The market is primarily driven by the rapid growth in water treatment infrastructure.
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The hydrated segment showed a gradual increase in the market share of USD 123.59 MTPA in 2017 and continued to grow until 2021. Hydrated variant is the primary ingredient used in treating acidic impurities and restoring the potential hydrogen (pH) balance of water. With the growth in population and the rising scarcity of freshwater resources, several countries are investing significantly in domestic and industrial wastewater treatment and recycling. Developed economies, too are investing significantly in industrial wastewater recycling facilities and implementing stringent policies to ensure that industrial and municipal facilities comply with the respective wastewater treatment regulations. Also, the market is expected to grow steadily during the forecast period due to the increasing application of this material in the agricultural sector and the production of sugar from sugar cane and sugar beet, especially in rapidly emerging economies in Asia and Africa. Several countries, such as Australia, India, and Ethiopia, are encouraging the use of this material for soil stabilization and crop yield maximization. Hence, the growing emphasis on agriculture is expected to aid the growth of the global hydrated market during the forecast period.
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APAC is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China was the leading producer and exporter in APAC. The rapid growth of several industries has resulted in high demand for ferrous and non-ferrous metals such as steel, aluminum, and copper in the country. The various applications of this material in ferrous and non-ferrous metal production and the growth in metal production in the country were the key growth drivers in APAC.
Moreover, this is essential in the manufacturing of sugar, one byproduct of which is ethanol. The demand for ethanol is increasing globally as it is used to power fuel cells and produce biodiesel. The increasing initiatives for green fuel by the governments in the region have increased the demand for ethanol, which, in turn, will drive the growth of the regional market during the forecast period.
The market is witnessing significant growth, driven by diverse industrial applications and rising demand in various sectors. Calcinor, a prominent player, is actively contributing to market expansion. It is derived from calcination processes like blast furnaces, and finds extensive use in industries such as mining, metallurgy, and water treatment. Its versatile applications range from agriculture to construction materials. Key derivatives like quicklime and hydrated variant serve pivotal roles in water treatment, food processing, and pharmaceuticals. It is a crucial ingredient in pickles, juice processing, cosmetics, and essential oils. Moreover, its significance in the energy industry and its role as a carbon dioxide absorbent underline its multifaceted utility. As it continues to be an essential component in various sectors, the market is poised for sustained growth.
Further, the market plays a crucial role across various industries including agriculture, pharmaceuticals, and cleaning products. Lime producers, such as Calcinor, are key players in supplying lime-based ingredients essential for juice processing, essential oil extraction, and blast furnace operations. The World Steel Association acknowledges lime's importance in steel production, while the World Health Organization highlights its applications in the environmental and healthcare sectors. With its high oil content, lime is extensively used in pharmaceutical and cleaning industries for its antibacterial properties. The lime market continues to expand globally, driven by increasing demand from diverse sectors and ongoing innovations in lime production and applications across industrial and consumer markets. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is witnessing significant growth, driven by the increasing focus on wastewater recycling. Hydrated variant plays a crucial role in various industrial and municipal wastewater treatment plants, serving as both a coagulant and a flocculant. This application has become paramount amidst growing concerns about industrial pollution and inadequate wastewater treatment practices. Stringent regulations imposed by countries like China, the US, and Western European nations further propel the demand in wastewater treatment and recycling efforts.
Additionally, the depletion of natural freshwater resources due to population growth has heightened the importance of wastewater recycling. Countries such as the US and Canada are enforcing strict regulations, with initiatives like the Water Infrastructure Finance and Innovation Act (WIFIA) program, aimed at improving water treatment infrastructure. This focus on wastewater treatment and recycling is expected to drive the growth of the global market in the forecast period.
Growing emphasis on energy efficiency is a major trend in the market. In the last few years, developed markets such as the US and countries in Western Europe have witnessed a rise in focus on eco-friendly production and industrial carbon footprint minimization. The production has traditionally been a carbon-intensive process. However, with developed countries such as Germany and the UK focusing on becoming low-carbon economies, several production plants in these countries are undergoing modernization to ensure energy efficiency and minimize fuel emissions.
For instance, Europe, through its 2050 low-carbon economy target, expects to achieve greenhouse gas emission cuts of 80% by 2050. With the adoption of modern technologies in machinery to optimize processes such as limestone grinding and cooling, the material kilns are expected to become highly energy-efficient during the forecast period.
Health hazards associated with hydrated lime are a major challenge impeding the market growth. This finds applications in several industries, such as food and beverage and paper. However, the Material Safety Data Sheet (MSDS) for hydrated material holds a rating of 1-3, indicating its hazardous nature. Overexposure to hydrated variant may severely damage skin and eyes; additionally, it may lead to lung damage, choking, loss of consciousness, and death in extreme cases. Therefore, safe storage equipment is required for material transport during production, which increases the overall production costs.
According to the US National Institute for Occupational Safety and Health (NIOSH), accidental ingestion of the material can cause severe throat and body pain, vomiting, blood in the stool, and a rapid decrease in blood pressure. Also, the material may affect blood pH levels and result in organ failure. Therefore, the health hazards associated with the material may limit its application in key end-user industries during the market forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Afrimat Ltd. - The company operates under multiple segments including construction materials, and industrial minerals among others, with a high focus on construction materials. The company under this segment?offers products such as aggregates, concrete-based products, and contracting operations. The company's key offerings include lime such as Unslaked Lime, Agricultural Lime, and more.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "MTPA" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
North America Lime Market - North America Lime Market by Product and Geography - Forecast and Analysis
Lime Oil Market - Lime Oil Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, UK, China, Germany, Japan - Size and Forecast
Mexico Lime Market - Mexico Lime Market by Product and Distribution channel - Forecast and Analysis
The market is thriving, driven by a myriad of factors encompassing diverse industries and applications. Calcinor, a prominent player, contributes significantly to the sector's growth, leveraging its expertise in lime production. From blast furnaces to water-stressed areas, lime finds extensive use in various sectors such as mining & metallurgy, food processing, cosmetics, and agriculture. Key raw ingredients like quick lime play a vital role, catering to industrial demands worldwide. Lime's tangy flavor enhances dishes like ceviche and guacamole, while its presence in drinks and confectionery adds zest. Moreover, lime offers potential health benefits, with applications in skincare solutions and nutrition, owing to its rich vitamin C content and antioxidants. Its role in water purification, soil treatment, and crop outcomes underscores its significance in promoting environmental sustainability and agricultural productivity. As global trade flourishes, lime continues to be a sought-after substrate, contributing to diverse industries and ensuring a healthy balance in various ecosystems.
The market spans a diverse array of industries, from construction to healthcare, owing to its versatile applications. Essential for steel production, lime plays a vital role in adjusting soil pH, enhancing water retention, and preventing erosion in agriculture. Its presence is also prominent in the food and beverage sector, where it's utilized in juice processing, pickling, and as a flavor enhancer. Moreover, lime's significance extends to the cosmetic industry, offering benefits in skincare solutions and cosmetics due to its citric acid content and collagen-boosting properties. With its multifaceted utility across various sectors and global demand, lime stands as a crucial commodity influencing industries worldwide, from energy to manufacturing.
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Lime Market Scope |
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Report Coverage |
Details |
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Page number |
155 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.78% |
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Market growth 2023-2027 |
36.7 MTPA |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.5 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 59% |
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Key countries |
US, China, India, Japan, and Germany |
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Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Afrimat Ltd., Brookville Manufacturing, Cape Lime, Carmeuse Coordination Center SA, Cheney Lime and Cement Co., Cornish lime Co., CRH Plc, Graymont Ltd, Lhoist SA, Lime Group Australia, Linwood Mining and Minerals Corp, Minerals Technologies Inc., Mississippi Lime Co., Niki Chemical Industries, Nordkalk Corp., Ognyanovo K AD, Pete Lien and Sons Inc, Sigma Minerals Ltd., United States Lime and Minerals Inc., and PPC Ltd. |
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Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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