Enjoy complimentary customisation on priority with our Enterprise License!
The limestone market size is projected to increase by USD 33.79 billion, at a CAGR of 7.3% between 2023 and 2028. The market growth depends on several factors such as the rapid growth of the construction sector, the technological advancements, and the declining sources.
To learn more about this report, Request Free Sample
Limestone is a sedimentary rock that consists of calcium carbonate predominantly. This stone is one of the most abundant minerals on Earth and has a wide range of applications across various industries, such as construction, manufacturing, agriculture, and environmental remediation.
The magnesian limestone segment is estimated to witness significant gains during the forecast period. The magnesian primarily consists of a significant amount of magnesium carbonate. It is largely used in industries such as construction, agriculture, and glass. Magnesian is used as a primary aggregate material in construction projects, including road construction, building foundations, and concrete production. Its high strength and durability make it suitable for use as a base material in roads and highways, as well as for constructing buildings and structures.
Get a glance at the market contribution of various segments View the PDF Sample
The magnesian limestone segment was the largest segment and was valued at USD 39.89 billion in 2018. In addition, magnesian is also used in environmental remediation efforts, including water treatment and soil stabilization, in order to address environmental pollution and mitigate the impacts of industrial activities. Growing awareness of environmental issues and regulatory standards for pollution drives the demand for magnesian limestone. Such a wide range of applications of magnesian propels the growth of the segment. Moreover, the immense growth in major end-users of magnesian stone, such as construction and agriculture, is expected to further propel the growth of the segment in the market during the forecast period.
The construction segment is expected to grow significantly in the market. Limestone is used in construction in many ways. Blocks are used for purposes such as constructing buildings and stone cladding on walls. Due to its properties, such as thermal resistance, high strength, long durability, and resistance to corrosion, they are considered to be a highly suitable material for construction applications. Furthermore, advancements improve efficiency, productivity, safety, and sustainability in construction projects, increasing the growth of the construction industry. Therefore, rising industrialization and technological advancements in the construction industry are expected to drive the development of the construction segment in the market during the forecast period.
APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is poised to dominate the market, fueled by robust economic development and a booming construction sector. Rapid urbanization and infrastructure projects drive demand for such stones, especially in India, a key cement producer. Government initiatives like Smart Cities Mission and Housing For All bolster construction, further increasing the demand. Additionally, limestone's vital role in agriculture enhances its market expansion with rising agricultural activities and technological advancements. As a result, the market in APAC is projected to witness substantial expansion, supported by the region's evolving economic landscape and infrastructural developments.
The rapid growth of the construction sector is the key factor driving the market. Limestone's significance in construction, especially in mortar and plaster, propels the market's evolution. With increasing construction and renovation activities worldwide, driven by factors like residential sector expansion and emphasis on energy-efficient buildings in Western Europe and APAC, demand for limestone surges. Rapid urbanization in developing nations like China and India further boosts construction, elevating limestone demand. Consequently, the market is poised for significant growth, fueled by escalating construction endeavors.
Technological advancements is the primary trend in the market. Advanced technologies such as drone mapping, laser scanning, and automation are being deployed in the mining industry to optimize mining operations, enhance safety, and increase productivity. Also, the increasing adoption of automated mining equipment, such as autonomous haul trucks, drilling rigs, and excavators, enables remote operation, precision control, and real-time monitoring of mining activities, which helps increase productivity in the mining industry. Further, the emergence of advanced 3D modeling and visualization software enables visualizing mine layouts and optimizing resource extraction processes. Therefore, such technological advancements drive market expansion during the forecast period.
Declining sources is a major challenge impeding the market expansion. Overexploitation and extraction of limestone from existing quarries leads to the depletion of reserves over time. Moreover, most of the reserves are located away from their major consuming regions, such as APAC and Europe. Due to this, mining operations are considered economically impractical by calcium carbonate manufacturers. Furthermore, the major challenge for mining is that the public in many countries does not welcome such mining activities and plants in their respective regions. Thus, such a factor is expected to hinder market growth during the forecast period.
Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and result in market growth analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AMR Group, CRH Plc, GLC Minerals, Graymont Ltd, Gujarat Mineral Development Corp. Ltd., Holcim Ltd., Imerys S.A., Independent Limestone Co, Lhoist Group, Minerals Technologies Inc., Mississippi Lime Co., NEBCO Inc., Nittetsu Mining Co. Ltd., Omya International AG, Rajasthan State Mines and Minerals Ltd., SCHAEFER KALK GmbH and Co. KG, The National Lime and Stone Co., United States Lime and Minerals Inc., and Vulcan Materials Co.
The market analysis and report of 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.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. The market report focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting growth strategies.
Global Market Customer Landscape
The global limestone market thrives on its versatility, serving various industries and applications. Rich in calcium ions, limestone finds widespread use in construction, adorning luxury residential communities as wall cladding and for decoration purposes. It's indispensable in infrastructural activities, providing a sturdy base for roads and railroads. From Ferrero's Bloomington plant to production capacities overseen by the Environment Protection Agency (EPA), limestone plays a crucial role in ensuring compliance with clean water regulations like the Safe Drinking Water Law.
Municipal wastewater treatment plants rely on limestone for efficient operations. In the end-use segment, limestone's hues, ranging from brown to black, facilitate diverse applications in architecture and beyond. Its presence is vital in steel production, as it's used in furnaces for refining and manufacturing and lining converters in processes endorsed by the World Steel Association. In agriculture, limestone amends soil acidity, ensuring optimal conditions for crop growth, especially in regions prone to heavy rain and nitrogen fertilizers usage, contributing to sustainable farming practices.
|
Limestone Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
159 |
|
Base year |
2023 |
|
Historic period |
2017-2021 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 7.3% |
|
Market Growth 2024-2028 |
USD 33.79 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
7.0 |
|
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 55% |
|
Key countries |
US, China, Japan, Germany, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
AMR Group, Carmeuse Coordination Center SA, CRH Plc, GLC Minerals, Graymont Ltd, Gujarat Mineral Development Corp. Ltd., Holcim Ltd., Imerys S.A., Independent Limestone Co, Lhoist Group, Minerals Technologies Inc., Mississippi Lime Co., NEBCO Inc., Nittetsu Mining Co. Ltd., Omya International AG, Rajasthan State Mines and Minerals Ltd., SCHAEFER KALK GmbH and Co. KG, The National Lime and Stone Co., United States Lime and Minerals Inc., and Vulcan Materials Co. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.