The global lime material market is expected to grow at a compound annual growth rate of 3.11% over the forecast period to reach a market size of US$112.430 billion in 2025 from US$93.557 billion in 2019. Lime is known as an inorganic calcium-containing mineral that is composed of hydroxide as well as oxides. It is also known as calcium oxide and it is formed by extensive burning of limestone minerals. It is also a product of coal seam fires. The mineral is widely popular in the construction, mining, water treatment, and agriculture sector. It is being used in construction and building techniques for thousands of years. There are a plethora of properties of this mineral, which makes it an attractive deposit. The resilience, durability, water-resistant and other multiple properties make the material extensively valuable for various industrial applications. Lime also has other complex and extensive qualities which include cohesion, air content, adhesion, setting time, bond strength, water content, and resistance to sulfates. These types of qualities and features vary with the construction and manufacturing stage, and the source of the lime ingredient also determines the level of quality and features. The market is mostly fragmented with the regional players have an imperative role in the overall growth.
The construction sector holds a major share in the Lime Market Growth. The material has been used in this sector for centuries as it was used in the construction and development of Masonry Mortars. The buildings especially mortar constructed with lime exhibit extensive and exponential strength and water-resistant qualities. The material is widely used in the development of plasters, improving their durability, strength, and overall lifespan. Hydrated Lime is widely popular in the construction sector as it is used in the construction of earthen dams, airfields, stabilization of soil, and others. Hydrated Lime enhance and modify the engineering properties and features of the soil especially workability and threshold. It also enhances the impermeability of soil. Other than hydrated lime, quick lime has made a major impact in the construction sector to parched soaked, and wet soil. This helps in the expansion and enhancement of the working surface. There has been a notable change in recent years, regarding the effects of lime in the soil. Clay soil witnessed a major change as these types of soil contain considerable plasticity. Lime alters the wet retention capacity and improves the overall stability of clay soil. There are certain steps and procedures required to ensure that there is an enhancement of longevity and shear strength of the soil, which makes it beneficial for building and construction activities. The global lime market will witness significant growth from the rise of the construction sector.
According to the International Organizing Committee for the World Mining Congresses, there has been a substantial rise in the overall production of minerals worldwide in recent years. The global mining production was around 17.7 Billion Metric Tons in the year 2019, with a rise of around 6.4 Billion Metric Tons since the beginning of this century. Asia Pacific Region accounted for 65.1% share in the total production followed by North America (15.3%), Europe (8%), Africa (5.5%), and the rest of the world. China, the USA, Russia, and Australia are four major mining nations with China accounting for 23% of the total share followed by the USA, Russia, and Australia. These four nations accounted for half of the global mining share. The global lime market will witness a surge with the growth of the mining sector as the material is extensively used to eliminate and remove impurities during the manufacturing process of steel, iron, gold, alumina, silver, lead and copper, and others. Lime Material plays an imperative role in the production of Non- Ferrous Metals such as aluminum, Germanium, and other related metals. It is used to treat and cure copper ore, recover gold from the metals, and extract uranium.
Lime Material is making a significant impact in the water treatment industry. Because of its cost-effective and alkaline properties, it is registering a demand in the making of impure drinking water. It is also used in the treatment of waster sludge and water. Most of the lime used, such as quick and hydrated lime is used to enhance the drinking water quality and the water, widely used by respective industries. Lime water can be purified, softened and the acidity can be removed by various treatments. The companies and organizations that have used lime water for water treatment properties stated that there has been an enhancement in the smell, color, and taste of the drinking water. The cloudiness gets removed and various types of infected organisms get eliminated. With the governments worldwide, are investing a considerable sum of capital into the purification of their water resources, the market will continue to register significant growth.
According to the data given by the United States Geological Survey in 2019, a total of around 18 million tons of hydrate and quick lime were produced in the United States. The total value of the production was around USD 2.4 Billion. There were about 28 companies which were a major producer of lime. Out of these 18 companies were engaged in commercialization and the other 10 companies were manufacturing and producing lime for the sugar companies. The market has widespread potential in the United States. The companies producing lime in the United States were operating 74 primary lime plants in the year 2019. Out of these 6 of the companies were operating hydrating lime plants. Major players have invested a considerable sum in the market as the top 5 major companies in the United States, accounted for 80% of total domestic lime production. The major lime-producing states in the United States in 2019 were Texas, Ohio, Missouri, Kentucky, Alabama, and the major markets were steelmaking, industrial and chemical applications such as glass, fertilizers, sugar refining, and others. Asia Pacific region holds a major share in the market and will register significant growth during the forecast period. China and India hold a major share in the market. China is the biggest producer of lime material worldwide, with the production of around 300 million metric tonnes in the year 2019. There are a plethora of companies operating in China and the market will grow at a decent rate in the coming years. India also holds a major share in lime production as it produced 16 million tonnes, in the year 2019. The reason for the growth of the market in the Asia Pacific region is due to the rising demand for better and finer quality minerals, in construction, mining, agriculture, and water treatment. The rise of the middle-class population in the region will also drive the overall market growth during the forecast period.
Frequently Asked Questions (FAQs)