Lime Market
Lime Market Study by Quick Lime and Hydrated Lime for Agriculture, Building Materials, Mining & Metallurgy, and Water Treatment from 2024 to 2034
Analysis of Lime Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Lime Market Outlook (2024 to 2034)
The global lime market size has been forecasted by skilled analysts at Fact.MR to rise from a value of US$ 48.05 billion in 2024 to US$ 61.5 billion by 2034-end, at a CAGR of 2.5% (2024 to 2034).
Lime is a highly versatile material that is primarily composed of calcium oxides and hydroxides. Quicklime is majorly derived from rocks and minerals like limestone or chalk, which are highly rich in calcium carbonate. These raw materials are further cut, crushed, pulverized, and chemically altered by the lime suppliers in the market according to their needs.
Lime has a decent heat tolerance capacity of around 40 °C, making it viable for a spectrum of applications. Versatility of lime allows it to be applied across diverse fields including the environmental, metallurgical, construction, chemical, and industrial sectors, among others. Lime is used in the steel manufacturing process to remove impurities such as silica, phosphorus, and sulfur to get refined steel with good quality standards. These steel rods and bars are then substantially used in the construction sector.
In construction, lime is utilized for soil stabilization in various projects such as roads, dams, building foundations, and other construction sites. Over recent years, there has been a notable increase in the use of lime, presenting opportunities for suppliers to collaborate with construction professionals and stakeholders to expand their presence in the sector. This strategic approach has enabled lime manufacturers to broaden their network and establish a stronger foothold in the market.
Lime functions as an additive in the production of metals and is a significant component in plaster and mortar. When incorporated as a supplement in asphalt, lime enhances cohesion, prevents aging, and reduces stripping. These factors are contributing to the expansion of the lime market size. Key players in the industry continuously seek to expand their networks and maintain market dominance, thus contributing to the lime market growth.
| Report Attributes | Details |
|---|---|
| Lime Market Size (2024E) | US$ 48.05 Billion |
| Forecasted Market Value (2034F) | US$ 61.5 Billion |
| Global Market Growth Rate (2024 to 2034) | 2.5% CAGR |
| Canada Market Growth Rate (2024 to 2034) | 3% CAGR |
| China Market Value (2034F) | US$ 13.53 Billion |
| North America Market Share (2024E) | 28.6% |
| East Asia Market Share (2034F) | 38.4% |
| Key Companies Profiled |
|
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Which Lime Market Trends are Suppliers Capitalizing On?
“Increasing Adoption of Sustainable Construction Practices”
Lime has become an integral component in the construction sector, valued for its versatility and eco-friendly attributes. These characteristics are boosting demand for lime in construction. Adoption of sustainable construction practices further augments the demand for lime due to its eco-friendly properties. This presents opportunities for suppliers to align their offerings with the needs of this segment. Construction projects often use diverse materials such as metals, concrete, bricks, and sand.
“Extensive Use of Lime in Chemical Industry”
Lime finds widespread application in the chemical industry, as it serves as a fundamental ingredient in the production of various compounds, including calcium hypochlorite, sodium alkalis, cyanamide, citric acid, petrochemicals, propylene glycol glycerin, magnesia, and many other products.
Utilization of lime across diverse materials such as paper, paint, ink, plastic, and rubber is growing. In the paper industry, lime acts as a bleaching agent and causticizing agent, and is used to produce precipitated calcium carbonate (PCC) for internal consumption. These applications present new opportunities for lime suppliers to expand their reach and strengthen their presence in the market.
Which Factors are Hindering Market Growth?
“Reduced Efficacy of Lime Resulting from Carbonation Reaction”
Carbonation is a chemical reaction where carbon dioxide reacts to form carbonates, bicarbonates, and carbonic acid. This reduces the effectiveness of lime in various applications. The abrasive nature of the material and its tendency to form clumps is a hindrance to limestone processing. To address this, a drying process is commonly employed to precondition limestone rock.
This pre-treatment adds to abrasiveness and necessitates the use of heavy-duty rotary dryers capable of handling such abrasive materials. Manufacturers are focusing on tackling this challenge and searching for alternative processes to incorporate lime.
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Country-wise Evaluation
Which Aspects Make the United States a Key Market for Lime Suppliers?
“Widespread Use of Lime in Expansive Mining Industry”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 9.85 Billion |
| Growth Rate (2024 to 2034) | 2.9% CAGR |
| Projected Value (2034F) | US$ 13.15 Billion |
The United States has some of the world's most valuable mineral resources, including copper, graphite, iron, lithium, lead, and coal. These minerals are inputs for various industries.
Lime plays a crucial role in the mining industry. Lime and limestone products are used extensively in various extraction processes such as coagulation, flotation, and recovery. Lime is beneficial as a cost-effective reagent for pH control during the flotation process in mining operations. Lime acts as a pH modifier and helps in the process of selective flotation of major sulfide minerals. These properties create lucrative opportunities for lime suppliers to collaborate with the mining industry.
Why are Lime Suppliers Interested in China?
“Rising Infrastructure Development Activities Boosting Use of Lime Slurry”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 9.98 Billion |
| Growth Rate (2024 to 2034) | 3.1% CAGR |
| Projected Value (2034F) | US$ 13.53 Billion |
China has a population of billions, and this vast amount of population requires large infrastructure for activities such as schools, colleges, offices, parks, and commutation structures. Lime is one of the most economically versatile minerals known, and thus construction workers have been using lime products for ages in various types of construction activities such as soil stabilization for roads and building foundations for structures. Lime helps in improving cohesion and preventing the aging process of buildings.
Lime slurry has proven to be beneficial as a mortar in masonry projects and finds application in plastering. Lime serves as an additive in asphalt, enhancing its cohesion and resistance against stripping processes.
Category-wise Insights
Which Type of Lime is Widely Utilized across Industries?
“Widespread Preference for Hydrated Lime”
| Attribute | Hydrated Lime |
|---|---|
| Segment Value (2024E) | US$ 26.62 Billion |
| Growth Rate (2024 to 2034) | 2.3% CAGR |
| Projected Value (2034F) | US$ 33.64 Billion |
Hydrated lime, which occupies a significant lime market share, is a colorless, dry, and crystalline powder manufactured using the process of slaking. Hydrated lime is a mild alkali mainly used for removing acid gases in energy plants, glass manufacturing facilities, cement mills, and incineration plants.
The most popular use of hydrated lime remains in steel manufacturing where its main purpose is to remove all kinds of impurities. Hydrated lime is also used in the construction sector to raise the pH levels of soils. This process is often called soil sweetening.
Know thy Competitors
Competitive landscape highlights only certain players
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Competitive Landscape
Key players in the lime market such as Carmeuse, Lhoist, Nordkalk, and Imerys have majorly used strategies to invest and increase their production units, resulting in their soaring dominance in the market.
They are focusing on identifying potential roadblocks to their growth and staying vigilant about new market entrants and recent developments, like mineral fillers, shaping the evolving trends in the lime market.
- In 2018, Mississippi Lime increased its production capacity for hydrated lime in West Virginia to provide its customers with cost-effective and high-performance solutions.
Key Segments of Lime Market Research
-
By Product Type :
- Quick Lime
- Hydrated Lime
-
By Application :
- Agriculture
- Building Materials
- Mining & Metallurgy
- Water Treatment
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
What is the size of the lime market in 2024?
The global lime market is placed to reach US$ 48.05 billion in 2024.
At what rate are the sales of lime approximated to increase?
Sales of lime are evaluated to increase at a CAGR of 2.7% from 2024 to 2034.
What is the forecasted valuation of the market for 2034?
The lime market is forecasted to reach US$ 61.5 billion by 2034.
Who are the leading manufacturers of lime in the market?
Prominent players in the market are Carmeuse, Lhoist, Nordkalk, and Imerys.
What share of the global market does East Asia account for?
Easy Asia currently accounts for 36.5% share of the global market.
What are the projected sales for lime in Japan?
Sales of lime in Japan are projected to reach US$ 5.49 billion in 2024.
Lime Market