Lime being an important raw material used for chemical manufacturing finds profound application as metallurgical flux, in waste and water management, agriculture industry, pH control in industries, construction and others. Calcium oxide (CaO) is lime, which is produced through calcination of limestone including calcined limestone, ground limestone and hydrated limestone. Production of lime is a complex industrial process and delivers two product forms quicklime and hydrated lime.
The growth of lime market is primarily fuelled by recovering and new construction activities in emerging economies along with urbanization due to rise in disposable income of middle class, resulting in expansion, upgrading and huge demand for infrastructural improvements. This has in turn led to intervention from both private as well as public players’ at national and international levels for infrastructural improvement and improved export possibilities to neighboring countries. In addition, lime manufacturers have switched to modern kiln ensuring crushing, quarrying and screening in an efficient manner for improving usage of lime from building and construction to road building, where lime is used for clay soils stabilization along with significant demand for lime in mining industry. Globally, in developed countries there is indigenous production of lime as compared to less developed countries, characterized by limited lime production and distribution.
Based on the product type, lime market is categorized into quicklime and slaked/hydrated lime. In terms of revenue contribution, quicklime segment accounted for major share of the global lime market. It accounted for 84.7% market share in 2020. However, slaked/hydrated lime segment is anticipated to record the highest CAGR during the forecast period. Slaked/hydrated lime segment growth is attributed due to rise in demand from application such as flue gas desulphurization (FGD), waste water treatment, incinerators and water desalination, as usage of hydarted lime results in softening, improved hygiene during desalination of water and pH adjustment.
Based on end-use application, the lime market is segmented into building and construction, agriculture, waste-water treatment, paper production, and others (sugar production). Among these, mining and metallurgy accounted for major revenue share in the global market, capturing 36.7% share in 2020. Building and construction accounted as the second largest segment and accounted for 22.5% share of global lime market in 2016 and is expected to further increase during the forecast period. The market is driven by growing demand for lime in environmental and agricutlure sectors. By 2029, sugar production, paper production, and environment industries is anticipated to record significant growth.
By geography, the global lime market is categorized into regional markets viz., North America, Europe, Asia Pacific, Latin America, Middle East and Africa. In 2020, Asia Pacific was observed as the largest market for lime. Increase in both commercial and residential construction activities, rising advocation of government for infrastructure development, increasing mining activities for copper, zinc, nickel, gold, silver and aluminum are some of the factors bolstering lime market growth in this region.
The report titled “Global Lime Market - Growth, Future Prospects, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global lime market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on application, product type and cross-sectional study across different geographies. The report provides a prolific view on market dynamics such as market drivers, restraints and opportunities.
In-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global lime market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
The global lime market can be categorized on the basis of product type as:
On the basis of product type, the global lime market is segmented into quick lime and slaked/hydrated lime. Quick lime and slaked/hydrated lime are both calcium compounds and the main difference between them is their reactivity and chemical composition. In its hydrated state, calcium is known as calcium hydroxide (slaked/hydrated lime), and in its pure state it is known as calcium oxide (quicklime). Quick lime has heavy density and is more reactive than hydrated lime.
Quick lime is widely used in various industries as a catalytic agent. It is used in steelmaking to separate impurities from the molten steel. It also helps to separate sulfur from industrial smoke emissions. Quicklime is also used in paper industry, fiber glass making and metal refining industries. Hydrated lime is used with water, for lime slurry addition, water ph control, lime slurry mixes, soil rehabilitation and more. The hydrated lime finds its applications mainly into environmental purification, agriculture and construction sectors.
In 2020, quick lime accounted for the largest share of more than 80.0% of the total lime market by value. Whereas, hydrated lime is projected to be the fastest growing segment over a CAGR of 3.0% in terms of value from 2021 to 2029 due to its increasing demand from agricultural and environment sector.
The global lime market can be categorized on the basis of end use application as:
On the basis of end-use application, the global lime market is segmented into mining and metallurgy (iron, steel, nonferrous metal), building & construction, agriculture, environmental (flue gas desulfurization, sludge, animal, wastewater, hazardous wastes) and others (sugar production, paper production, etc.). In 2020, mining and metallurgy end-use application segment dominated the global lime market with 36.7% share by revenue followed by building & construction with 22.5% share.
Lime is an essential product in mining and metallurgy (iron, steel, nonferrous metal) sector. Lime functions as a purification agent by removing impurities such as aluminates, silicates, sulphur and phosphorous. Quicklime is used to improve the productivity of the sinter belt and it also protect refractories in steel industries. In building & construction industry, lime is used for various purposes such as in building foundations and fillings, for preparing mortar for bedding bricks and stones, as a cementing material in plaster, for white washing and color washing, etc. Lime is also used in soil treatment at civil engineering projects. Hydrated lime is used to improve the durability of asphalt in the construction.
Lime products also plays an important role in environmental protection. Lime products are used in water treatment to remove impurities. It is also use in flue gas treatment to neutralize acid gases such as sulphur dioxide, hydrogen chloride and hydrogen fluoride.
In 2020, Asia Pacific accounted for 65.54% share of the global lime market in terms of revenue. It also projected to maintian its dominance over the forecast period of 2021 to 2029. Rapid unbanization and large scale industrialization is the major factor driving the market growth. Furthermore, the demand for lime will increase strongly as demand for steel and construction uses will grow. China continues to lead consumption and production of lime, at about more than 65% of world totals. Followed by Asia Pacific, Europe is the another highly attractive market for lime and is projected to grow at a CAGR of 5.0% over the forecast period. The demand for lime in Europe increased in most of the major end use applications such as mining & metallurgy, building & construction, and environment.
The North America lime market is charaterized by high barriers to entry, which include an industry dominated by a few large scale manufacturers with nationwide distribution and supply networks. Latin America and Middle East & Africa is projected to witness growth in coming years due to increasing industrial activities and FDI investments.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Lime market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
