Pune, India, June 03, 2021 (GLOBE NEWSWIRE) -- The global lime market size is expected to showcase considerable growth by reaching USD 51.04 billion by 2028 while exhibiting a CAGR of 2.6% between 2021 and 2028. Fortune Business Insights in its report, titled, “Lime Market, 2021-2028.”, observes that the market stood at USD 41.93 billion in 2020. Factors such as the rising steel industry and the implementation of stringent regulations regarding environment protection will boost the demand for the product in the forthcoming years.
According to the World Health Organization (WHO), by 2025, half of the global population is estimated to be residing in water-stressed areas. Therefore, the increasing demand for the product to treat contamination of water owing to stringent UN and US EPA regulation is expected to propel the market growth.
COVID-19 has resulted in several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies globally, several manufacturing facilities have been at a standstill with limited operational activities. However, a collective effort from the government and the industries to bring the economy back is expected to boost the market growth during the forecast period.
List of the Companies Profiled in the Lime Market:
- 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 (UK)
- Other Key Players
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Market Segmentation:
Based on type, the market is bifurcated into quick and hydrated lime. Additionally, on the basis of application, the market is classified into agriculture, building material, mining & metallurgy, water treatment, and others.
Based on application, the agriculture segment is expected to hold a considerable global lime market share in the forthcoming years. According to a report by the University of California, adding calcium hydroxide in a ratio of 1 – 2.3 ton per acre improves the presence of calcium and regulates the pH of agricultural soil. Therefore, the increasing adoption of the product is expected to drive the segmental growth that held a market share of about 3.4% in 2020.
Lastly, based on the region, the market is segregated into Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.
What does the Report Provide?
The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. The report further provides insights into the regional analysis covering different regions, contributing to the market growth. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point analysis to obtain information about the current trends and industry developments that will drive the market growth between 2021 and 2028.
DRIVING FACTORS:
Rising Demand for Steel to Aid Growth
According to the World Steel Association, steel production has witnessed considerable expansion from 1,606.3 million metric tons in 2016 to over 1,869.9 million metric tons in 2019, while growing at a steady CAGR of 5.2% between 2016 and 2019.
The increasing demand for steel products globally from the construction sector is anticipated to favor the product’s demand during the forecast period. Moreover, the growing automotive sector that requires a significant quantity of steel is expected to boost the global lime market growth in the forthcoming years.
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REGIONAL INSIGHTS:
Asia-Pacific – The region stood at USD 27.34 billion in 2020 and is expected to hold the highest position in the market in the forthcoming years. This is owing to the increasing focus on infrastructure development in countries such as India in the region.
North America - According to the Mineral Commodity studies by the U.S. government, in 2019, around 18 million tons of lime was produced in the U.S. The increasing focus on developing advanced infrastructure and the high demand from manufacturing industries will boost the demand for the product in the region between 2021 and 2028.
COMPETITIVE LANDSCAPE:
Investment in R&D by Key Players to Amplify Their Market Positions
The global market is consolidated by major companies striving to leverage the lucrative opportunities to maintain a stronghold. These companies are focusing on investments in R&D activities to develop advanced products to cater to the growing demand from the manufacturing and chemical sectors. Moreover, other key players are trying to maintain their presence by adopting strategies such as collaboration, facility expansion, and the introduction of new products that will contribute to the growth of the market in the forthcoming years.
Key Industry Development:
October 2019 - Graymont developed a new state-of-the-art production facility in Rexton, Michigan. The company reports that the new capacity will help to increase the production of a variety of products to cater to the prerequisites of the customers present across the Great Lakes area, U.S.
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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
- Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Lime Market
- 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 Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- 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
- By Type (Value and Volume)
TOC Continued…!
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High Strength Steel Market Size, Share & COVID-19 Impact Analysis, By Type (High Strength Low Alloy (HSLA), Dual Phase (DP), Transformation Induced Plasticity (TRIP), Martensitic (MS), and Others), By Application (Automotive; Building & Construction; Mechanical & Heavy Equipment; Rail, Aviation & Marine; and Others), and Regional Forecast, 2020-2027
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