"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Lime Market Size, Share & COVID-19 Impact Analysis, By Type (Quick Lime, and Hydrated Lime), Application (Agriculture, Building Material, Mining & Metallurgy, Water Treatment, and Others), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI104548

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global lime market size was valued at USD 40.07 billion in 2021. The market is projected to grow from USD 40.94 billion in 2022 to USD 49.17 billion by 2029, exhibiting a CAGR of 2.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market had exhibited a decline of 2.0% in 2020 as compared to 2019.


Lime is one of the largest chemicals consumed globally. It is a calcium-containing inorganic mineral composed of oxide and hydroxide compounds. Principal raw materials such as limestone and chalk are subjected to temperatures above 800⁰C in the calcination process, which breaks the carbonate compound into highly caustic calcium oxide or quicklime and releases carbon dioxide. The product is employed in large quantities as building and engineering resources, chemical feedstock, and sugar crystals refinement.


According to the National Lime Association, the primary application of the product is in steel manufacturing. It serves as a flux promoter and brings about the separation of impurities such as silica and phosphorus by slag formation. It is also added to the basic oxygen furnaces and electric arc furnaces.


The utilization of the product to treat wastewater and flue gases is gaining traction as it can capture impurities such as lead and SOx gases. With pollution control regulations getting stringent in countries such as the U.S., China, and India, the application of these products is expected to gain tremendous scope during the forecast period.


COVID-19 IMPACT  


Disruption in Mining of Limestone amid COVID-19 to Restrain Growth


Lime is a critical chemical for key end-use industrial applications such as metallurgy, construction, chemicals, and environmental. Therefore, many countries strive to ensure their supply is regulated despite the COVID-19 pandemic. However, the pandemic has led to a strict lockdown on mining and transportation of minerals. In countries such as China, India, and Brazil, the product’s supply chain was critically affected.


The irregular mining and transportation activities of the key raw material, limestone, led to an increase in the product's prices. This has further affected the already narrow margins of the manufacturers. Furthermore, the shutdown of end-use industries is likely to affect the overall demand for lime in the near future.


Manufacturers operating in the market carry out repair work on the kilns during the shutdown period. They further focus on the rising demand for environmental protection applications during the pandemic. With governments lifting the restrictions on activities such as construction and metal products manufacturing in the last quarter of 2020, the industry is expected to regain its old demand in the next couple of years.


LATEST TRENDS


Request a Free sample to learn more about this report.


Increasing Demand from Chemical and Manufacturing Industries to Propel Growth


Lime has proved to be a versatile chemical, with its application expanding in a myriad of industrial applications. While its primary application is in the metallurgy industry, it is experiencing high demand from the chemical and manufacturing industries. The product is employed in the chemical industry for manufacturing several vital chemicals such as sodium alkali, propylene glycol, calcium carbide, and cyanamide. It plays a significant role in manufacturing products such as citric acid, magnesia, and calcium magnesium acetate. Moreover, it is used to manufacture citrates, stearates, caseinates, phenolates, nitrates, and glycerin.


In manufacturing industries, the product has heavy demand from sugar, refractory, and paper manufacturers. In sugar refining, a hydrated product is essential for altering the pH of the sugarcane juice. The calcium hydroxide [Ca(OH)2] reacts with the impurities present in the juice, leading to the formation of insoluble organic compounds that can be easily separated. In refractory production, about 3% product solution is added during the fusion or sintering process to stabilize zirconium oxide production. On the other hand, in paper production, the product is used for controlling the whiteness of the paper by removing the impurities from the raw pulp.


Such a versatile application of calcium hydroxide in numerous industries shall be the key reason for product manufacturers to gain novel pathways in the near future that will favor the global lime market growth.


DRIVING FACTORS


Expansion of Steel Industry to Fuel Market Growth


Lime is primarily used in the production of steel. According to Calcinor, the steel industry is inconceivable without using this metal. The product is utilized in electric arc furnaces, AOD converters, and refining ladles. Amongst the various applications of the product in the steel industry, the following three are the key reasons behind the significant importance given to it in the industry:



  1. Finely ground product is added alongside limestone to convert ore to pig iron in a blast furnace.

  2. It is used as a fluxing means in electric arc furnaces and elementary oxygen furnaces. It helps remove impurities such as silica, phosphorus, and sulfur from the steel manufacturing process.

  3. It is also applied to enhance the refractory life in the furnaces.


The demand for steel products has surged significantly in past years due to the increasing efforts of governments in countries such as China, India, South Africa, and Brazil to build a strong infrastructure and residences for the rising population in these countries. According to the World Steel Association, steel production raised from 1.61 billion metric tons in 2016 to 1.87 billion metric tons in 2019, with a CAGR of 5.2% during 2016-2019. Therefore, the surging production of steel is the key driving factor for market growth.


Stringent Legal Framework for Environment Protection to Aid Market Growth


According to the World Health Organization (WHO), by 2025, half of the world’s population will be living in water-stressed areas. Contaminated water is a major transmission of diarrhea, dysentery, cholera, and typhoid. The World Health Organization (WHO) estimates that contaminated drinking water causes over 470,000 deaths each year. Therefore, to reduce the impact of polluted water, governments, and organizations such as the UN and U.S. EPA, have prescribed a legal framework concerning the quality standards for drinking water. Furthermore, industries are compelled to check their waste outlets to reduce their impact on the environment.


The hydrated product can change the acidity of industrial and mining wastewater and remove toxins such as phosphorus and nitrogen. Therefore, its usage in water treatment has gained tremendous traction. Similarly, quicklime is utilized to treat chimney gas from industries, power plants, and waste incinerators. It absorbs and neutralizes SOx emissions and thus, prevents the occurrence of acid rains. Due to these factors, the product demand is projected to be driven by stringent environmental conservation obligations.


RESTRAINING FACTORS


High Carbon Footprint of Product to Impede Growth


Limestone is primarily used to manufacture lime, where it is heated to form calcium oxide and carbon dioxide from calcium carbonate. The CO2 produced in the process is a greenhouse gas leading to numerous calamities and global warming that results in drastic consequences. Moreover, this production process is highly energy-intensive, which increases the overall carbon footprint of the industry.


Mild exposure to carbon dioxide has effects such as nausea, headache, and drowsiness. Moreover, heavy exposure can lead to breathing irregularity, confusion, elevated blood pressure, increased arrhythmia, and even death due to suffocation. Such effects on human and environmental health have been a key reason for consumers seeking alternative calcium hydroxide solutions.


SEGMENTATION


By Type Analysis


Quick Lime Segment to Remain Dominant Over Forecast Period


Based on type, the market is segmented into quick and hydrated lime.


Quick lime accounted for dominant lime market share due to the heavy demand from steel manufacturing. The use of such products in the manufacturing process of metals assists the separation of impurities in the form of slag. This improves the performance of metal and decreases steel brittleness.


Hydrated ones are primarily employed in the flue gas treatment or desulphurization process across several coal fire plants, glass & cement industries, and waste incinerators. It filters or catalyzes the particles emitted after combustion, including HCl, SOx, and NOx emissions. It is also utilized as a flocculant in water and sewage treatment, enabled by its low cost and extremely low toxicity. This is likely to favor the growth rate of the segment during the forecast period.


By Application Analysis


To know how our report can help streamline your business, Speak to Analyst


Mining & Metallurgy Segment to Hold Largest Share owing to Rising Steel Industry


Based on application, the market is segmented into agriculture, building material, mining & metallurgy, water treatment, and others.


According to the European Lime Association, the steel industry is the largest consumer of calcium hydroxide and currently utilizes more than 35% of the product produced worldwide. It is used to beneficiate copper ore and make alumina and magnesia in aluminum and magnesium manufacture. Calcium hydroxide is extremely important for uranium extraction and recovery of gold and silver from its ores by reducing impurities in the slag. Moreover, it is also utilized to increase the soil's stability over the mines to reduce the impact of vibrations, strengthening the mining & metallurgy segment.


Lime is used in the agricultural industry to improvise the soil pH to support high crop yield. It further improves the physical structure of soil by reducing the surface crusting, diminishing erosion, and enhancing water withholding capacity. Usage of calcium hydroxide improves water percolation and root penetration, supporting the crops to negate environmental and climatic changes, including floods and drought. It also improves the pesticide effectiveness and nutrient availability for the crops. A report by the University of California recommends adding calcium hydroxide in a ratio of 1 – 2.3 tons per acre to improve the presence of calcium and regulate the pH of agricultural soil. Owing to all these factors, the segment's growth is projected to be noteworthy during the forecast period.


In the construction industry, the product is used in mortar and plaster owing to its superior plasticity, workability, and adhesion properties. The adoption of calcium hydroxide in masonry helps in the load-bearing properties of walls. Hence, the rising construction industry will drive the use of the product for building material applications. In addition to this, the product is utilized in the treatment of industrial and mining wastewater. With the pollution control regulations getting stringent in countries such as the U.S., China, and India, the need for the product is expected to grow for water treatment applications during the forecast period.


REGIONAL INSIGHTS


Asia Pacific Lime Market Size, 2021 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


Asia Pacific stood at USD 26.27 billion in 2021 and is expected to dominate the market during the forecast period. This dominance of the region is attributed to China, where the concentration of industries is very high. It is the leading country producing many metal products such as steel, aluminum, and gold. Furthermore, the focus of India and other Southeast Asian countries on infrastructure development in the region is going to be a vital factor behind the exponential growth of the market in the region. 


The market in North America is projected to expand in the next few years. The newly elected president, Mr. Joe Biden, promises infrastructural development as one of the focus areas in their development strategy. According to the Mineral Commodity studies by the U.S. government, in 2019, around 18 million tons of product was produced in the U.S., with around 28 companies operating in North America.


The production volume in Europe is approximately double compared of North America, with Russia leading the production with 11 million tons, in 2019, as per the European Industry Association. The region's growth is associated with the expansion of steel manufacturing and the surging automotive industry. Furthermore, the paper and plastic industries in the region have expanded their demand to treat wastewater and flue gases. This presents an excellent growth opportunity for the market players.


The utilization of calcium hydroxide is projected to grow in the Middle East & Africa due to its petrochemical industry usage. It is used in the production of many organic compounds, such as stearates and phenolates. Therefore, the market has obtained immense traction in the region. Also, high demand from the mining industry in Africa has been the key driver for market growth.


To know how our report can help streamline your business, Speak to Analyst


The expanding steel and construction sector in Latin America shall be the critical factor behind the growth of the market in the region.


KEY INDUSTRY PLAYERS


Prominent Companies Focus on Acquisition and Expansion Strategies to Maintain their Market Position


Acquisition and expansion are important competitive landscape strategies used by market-leading companies to maintain their positions. Mississippi Lime Company is one of the most prominent companies operating in the market. The company supplies high-calcium compounds and technical solutions for chemical manufacturing, construction, and other end-use industries. The company has over nine manufacturing sites, six dedicated distribution sites, and five MLDs trucking sites. To meet the customer’s demand for novel, high-quality hydrated lime, it has expanded its production capacity at its Weirton, West Virginia, and Verona, Kentucky sites in 2018.


LIST OF KEY COMPANIES PROFILED:



  • 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.)


KEY INDUSTRY DEVELOPMENTS:



  • May 2020 – Lhoist North America received a permit from the Texas Commission on Environmental Quality to construct a novel energy-efficient lime kiln at its facility in New Braunfels, Texas. The regulatory approval shall support the company's capacity expansion and help serve the customers in North America at a lower turnaround time.

  • March 2018 – Mississippi Lime Company increased the capabilities for the production of highly reactive hydrated lime (HRH) at their facility in Weirton, West Virginia. HRH provided customers with a cost-effective and high-performance solution that controls emissions such as sulphuric acid mist, SO2, and HCl. To cater to the growing demand, the company has planned capacity expansion.


REPORT COVERAGE


An Infographic Representation of Lime Market

To get information on various segments, share your queries with us



The global lime market research report provides detailed market analysis and focuses on crucial aspects such as leading companies, types, and applications. Also, it offers insights into key market trends and highlights vital industry developments. In addition to the factors mentioned above, the scope of the report encompasses various factors contributing to the market growth over recent years.


Report Scope & Segmentation


















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Volume (Million Tons); Value (USD Billion)



Segmentation



Type; Application; and Geography



By Type




  • Quick Lime

  • Hydrated Lime



By Application




  • Agriculture

  • Building Material

  • Mining & Metallurgy

  • Water Treatment

  • Others



By Geography




  • North America (By Type, By Application)

    • U.S. (By Type)

    • Canada (By Type)



  • Europe (By Type, By Application)

    • Germany (By Type)

    • U.K. (By Type)

    • France (By Type)

    • Italy (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Type, By Application)

    • China (By Type)

    • Japan (By Type)

    • India (By Type)

    • South Korea (By Type)

    • Rest of Asia Pacific (By Type)



  • Latin America (By Type, By Application)

    • Brazil (By Type)

    • Rest of Latin America (By Type)



  • The Middle East & Africa (By Type, By Application)

    • South Africa (By Type)

    • Rest of Middle East & Africa (By Type)





Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 40.07 billion in 2021 and is projected to reach USD 49.17 billion by 2029.

In 2021, the market value stood at USD 40.07 billion.

Registering a significant CAGR of 2.7%, the market will exhibit steady growth during the forecast period (2022-2029).

The mining & metallurgy application is expected to be the leading segment in this market during the forecast period.

The expansion of the steel industry is set to be the key factor in driving the market.

Carmeuse, Lhoist Group, and Graymont are the leading players in this market.

China held the highest share in the global market in 2021.

The increasing regulations for environmental protection and the growing demand for chemicals such as calcium carbide and cyanamide are likely to drive the adoption of the product in the forthcoming years.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Apr, 2022
  • 2021
  • 2018-2020
  • 227

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients

UBS
Iwatani
Citibank
Kpmg
Samsung

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X