Lime Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, India, Japan, Germany - Size and Forecast 2023-2027

Lime Market Forecast 2023-2027

The lime market is estimated to increase by 36.7 MTPA between 2022 and 2027. The size of the market is forecast to grow at a CAGR of 3.78%. Market growth hinges on various factors, notably the anticipated expansion of the construction sector, heightened emphasis on wastewater recycling, and widespread uptake of lightweight machinery across diverse industries. However, challenges loom, including environmental repercussions stemming from limestone mining, health risks linked to hydrated variants, and obstacles related to distribution.

What will be the size of the Lime Market During the Forecast Period?

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What is the Fastest-Growing Segment in the Market?

The market share growth by the hydrated lime segment will be significant during the forecast period. Hydrated variant is formed by the reaction of calcium oxide with water. The material can be in the form of either dry hydrate or a paste which is called slurry, depending on the amount of water used. The market is primarily driven by the rapid growth in water treatment infrastructure.

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The hydrated segment showed a gradual increase in the market share of USD 123.59 MTPA in 2017 and continued to grow until 2021. Hydrated variant is the primary ingredient used in treating acidic impurities and restoring the potential hydrogen (pH) balance of water. With the growth in population and the rising scarcity of freshwater resources, several countries are investing significantly in domestic and industrial wastewater treatment and recycling. Developed economies, too are investing significantly in industrial wastewater recycling facilities and implementing stringent policies to ensure that industrial and municipal facilities comply with the respective wastewater treatment regulations. Also, the market is expected to grow steadily during the forecast period due to the increasing application of this material in the agricultural sector and the production of sugar from sugar cane and sugar beet, especially in rapidly emerging economies in Asia and Africa. Several countries, such as Australia, India, and Ethiopia, are encouraging the use of this material for soil stabilization and crop yield maximization. Hence, the growing emphasis on agriculture is expected to aid the growth of the global hydrated market during the forecast period.

Which are the Key Regions for the Market?

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APAC is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

China was the leading producer and exporter in APAC. The rapid growth of several industries has resulted in high demand for ferrous and non-ferrous metals such as steel, aluminum, and copper in the country. The various applications of this material in ferrous and non-ferrous metal production and the growth in metal production in the country were the key growth drivers for the in APAC.

Moreover, this is essential in the manufacturing of sugar, one byproduct of which is ethanol. The demand for ethanol is increasing globally as it is used to power fuel cells and produce biodiesel. The increasing initiatives for green fuel by the governments in the region have increased the demand for ethanol, which, in turn, will drive the growth of the regional market during the forecast period.

Market Dynamics and Customer Landscape

The market is witnessing significant growth, driven by diverse industrial applications and rising demand in various sectors. Calcinor, a prominent player, is actively contributing to market expansion. It is derived from calcination processes like blast furnaces, finds extensive use in industries such as mining, metallurgy, and water treatment. Its versatile applications range from agriculture to construction materials. Key derivatives like quicklime and hydrated variant serve pivotal roles in water treatment, food processing, and pharmaceuticals. It is a crucial ingredient in pickles, juice processing, cosmetics, and essential oils. Moreover, its significance in the energy industry and its role as a carbon dioxide absorbent underline its multifaceted utility. As it continues to be an essential component in various sectors, the market is poised for sustained growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The market is witnessing significant growth, driven by the increasing focus on wastewater recycling. Hydrated variant plays a crucial role in various industrial and municipal wastewater treatment plants, serving as both a coagulant and a flocculant. This application has become paramount amidst growing concerns about industrial pollution and inadequate wastewater treatment practices. Stringent regulations imposed by countries like China, the US, and Western European nations further propel the demand in wastewater treatment and recycling efforts.

Additionally, the depletion of natural freshwater resources due to population growth has heightened the importance of wastewater recycling. Countries such as the US and Canada are enforcing strict regulations, with initiatives like the Water Infrastructure Finance and Innovation Act (WIFIA) program, aimed at improving water treatment infrastructure. This focus on wastewater treatment and recycling is expected to drive the growth of the global market in the forecast period.

Significant Market Trends

Growing emphasis on energy efficiency is a major trend in the market. In the last few years, developed markets such as the US and countries in Western Europe have witnessed a rise in focus on eco-friendly production and industrial carbon footprint minimization. The production has traditionally been a carbon-intensive process. However, with developed countries such as Germany and the UK focusing on becoming low-carbon economies, several production plants in these countries are undergoing modernization to ensure energy efficiency and minimize fuel emissions. 

For instance, Europe, through its 2050 low-carbon economy target, expects to achieve greenhouse gas emission cuts of  80% by  2050. With the adoption of modern technologies in machinery to optimize processes such as limestone grinding and cooling, the material kilns are expected to become highly energy-efficient during the forecast period.

Major Market Challenge

Health hazards associated with hydrated lime are a major challenge impeding the market growth. This finds applications in several industries, such as food and beverage and paper. However, the Material Safety Data Sheet (MSDS) for hydrated material holds a rating of 1-3, indicating its hazardous nature. Overexposure to hydrated variant may severely damage skin and eyes; additionally, it may lead to lung damage, choking, loss of consciousness, and death in extreme cases. Therefore, safe storage equipment is required for material transport during production, which increases the overall production costs. 

According to the US National Institute for Occupational Safety and Health (NIOSH), accidental ingestion of the material can cause severe throat and body pain, vomiting, blood in the stool, and a rapid decrease in blood pressure. Also, the material may affect blood pH levels and result in organ failure. Therefore, the health hazards associated with the material may limit its application in key end-user industries during the forecast period.

Key Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Lime Market companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Afrimat Ltd. - The company operates under multiple segments including construction materials, and industrial minerals among others, with a high focus on construction materials. The company under this segment?offers products such as aggregates, concrete-based products, and contracting operations. The company's key offerings include lime such as Unslaked Lime, Agricultural Lime, and more. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Brookville Manufacturing
• Cape Lime
• Carmeuse Coordination Center SA
• Cheney Lime and Cement Co.
• Cornish lime Co.
• CRH Plc
• Graymont Ltd
• Lhoist SA
• Lime Group Australia
• Linwood Mining and Minerals Corp
• Minerals Technologies Inc.
• Mississippi Lime Co.
• Niki Chemical Industries
• Nordkalk Corp.
• Ognyanovo K AD

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Hydrated lime
  • Quicklime

• Distribution Channel Outlook 
  • Offline
  • Online

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Market Analyst Overview

The market is thriving, driven by a myriad of factors encompassing diverse industries and applications. Calcinor, a prominent player, contributes significantly to the sector's growth, leveraging its expertise in lime production. From blast furnaces to water-stressed areas, lime finds extensive use in various sectors such as mining & metallurgy, food processing, cosmetics, and agriculture. Key raw ingredients like quick lime play a vital role, catering to industrial demands worldwide. Lime's tangy flavor enhances dishes like ceviche and guacamole, while its presence in drinks and confectionery adds zest. Moreover, lime offers potential health benefits, with applications in skincare solutions and nutrition, owing to its rich vitamin C content and antioxidants. Its role in water purification, soil treatment, and crop outcomes underscores its significance in promoting environmental sustainability and agricultural productivity. As global trade flourishes, lime continues to be a sought-after substrate, contributing to diverse industries and ensuring a healthy balance in various ecosystems.

The market spans a diverse array of industries, from construction to healthcare, owing to its versatile applications. Essential for steel production, lime plays a vital role in adjusting soil pH, enhancing water retention, and preventing erosion in agriculture. Its presence is also prominent in the food and beverage sector, where it's utilized in juice processing, pickling, and as a flavor enhancer. Moreover, lime's significance extends to the cosmetic industry, offering benefits in skincare solutions and cosmetics due to its citric acid content and collagen-boosting properties. With its multifaceted utility across various sectors and global demand, lime stands as a crucial commodity influencing industries worldwide, from energy to manufacturing.

Lime Market Scope
Report Coverage	Details
Page number	155
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 3.78%
Market growth 2023-2027	36.7 mn MTPA
Market structure	Fragmented
YoY growth 2022-2023(%)	3.5
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 59%
Key countries	US, China, India, Japan, and Germany
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Afrimat Ltd., Brookville Manufacturing, Cape Lime, Carmeuse Coordination Center SA, Cheney Lime and Cement Co., Cornish lime Co., CRH Plc, Graymont Ltd, Lhoist SA, Lime Group Australia, Linwood Mining and Minerals Corp, Minerals Technologies Inc., Mississippi Lime Co., Niki Chemical Industries, Nordkalk Corp., Ognyanovo K AD, Pete Lien and Sons Inc, Sigma Minerals Ltd., United States Lime and Minerals Inc., and PPC Ltd.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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