The global Limestone Market is forecast to reach USD 9.98 Billion by 2027, according to a new report by Reports and Data. Amongst the main drivers of the global limestone market is the growing demand from the construction sector. In the construction industry, calcium carbonate is used as a building material, lime aggregate for road construction, an ingredient for cement, and as a starting material for the preparation of builder’s lime by combustion in a furnace.
Currently, more than 2 million metric tons of lime are used each year in the construction of roads, dams, and to improve the soil on construction sites. The use of lime quickly improves the condition of the soil during construction and also adds long-term improvements to soil properties. The health risks associated with calcium carbonate can hinder the market growth. The growing demand for brighter and larger paper is the primary driver of the preference for limestone in the paper industry. Growing demand for paper packaging and tissue products is expected to stimulate the market in the Asia-Pacific region.
The COVID-19 impact:
The COVID-19 pandemic is expected to have a massive downward impact on the global Limestone market in 2020, the reason being the halt in the industrial production in segments that were responsible for the significant demand in market share terms in 2019. After the pandemic, however, trends discussed in the study of the global market do hold ground.
Also, supply chain disruptions and production shutdowns have resulted in a downgraded outlook for the pulp and paper industry, which is a significant market segment for the Limestone market. The halt in the construction activities could have lasting effects. While the industry expects things to return to near normal state well before the end of 2020, negative demand shock caused by the crisis is likely to last.
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Key participants include Tarmac, Lhoist, Schaefer Kalk GmbH & Co. KG., CARMEUSE, Fels-Werke GmbH., Elliot Stone Company, Inc., Graymont Limited, Atlantic Minerals Limited, LafargeHolcim, and Sumitomo Osaka Cement Co., Ltd, among others.
Further key findings from the report suggest
- The increase in construction activity in emerging economies, as well as infrastructure development initiatives, are driving the market growth. A diverse application of limestone in end-use industries and its advantages such as durability, high strength, corrosion resistance, and easy availability of limestone increase the penetration of the world market. However, the health risks associated with calcium carbonate can hamper the market growth.
- The industrial application of lime in the production process of various FMCG products such as toothpaste, cosmetics, sugar, and in other predicts like glass, floor tiles, paper, and pharmaceuticals have been a significant market driver.
- Environmental regulations aimed at reducing greenhouse gas release, combined with increased awareness of global warming, can have a critical impact on the market in the coming years. In the cement industry, the manufacture of clinker produces a substantial amount of carbon dioxide. It has been reported that the cement industry alone emits a significant amount of carbon dioxide into the atmosphere. The lime, iron, and steel manufacturing industries are other relevant sources of carbon dioxide emissions.
- The North America region is valued for a substantial share of the limestone market. Increased construction activities and the reconstruction of infrastructures such as highways, bridges, and buildings in the United States are expected to stimulate market demand.
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For the purpose of this report, Reports and Data have segmented into the global Limestone market on the basis of Type, Application, End-Use Industry, and Region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- High-Calcium Limestone
- Magnesian Limestone
Application Outlook (Revenue, USD Billion; 2017-2027)
- Industry Lime
- Chemical Lime
- Refractory Lime
- Construction-based Lime
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
- Paper and Pulp
- Water Treatment
- Agriculture
- Plastics
- Building and Construction
- Food and Beverage
- Steel Manufacturing
- Others
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Furthermore, the research study gives additional insights into the companies’ regional presence through extensive regional analysis. The regional analysis covers the key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The regional analysis segment covers detail about the market share held by each region along with the prospective growth opportunities and revenue generation. The report also offers a projection of the growth rate for each region in the entirety of the forecast timeline. It also offers a country-wise analysis to impart a better understanding of the industry.
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