Lime Market Outlook

The global lime industry report extensively describes the critical segments, drivers, and constraints. This report also provides study about the competitive landscape, lime market trends and other important market features.

The global lime market size accounted for a value of around USD 40.5 billion in 2021. The market is further estimated to augment at a CAGR of around 3.3%. in the near timeframe of 2022-2027 to get to a value of USD 48.6 billion by 2027.

The global lime market demand is being aided by the expanding construction industry specifically in the emerging countries.  Along with this the rising steel industry has helped the industry to pick up its pace in the global market affecting the lime market price.

The lime market in Asia Pacific region is the major market and is the critical demand indicator in the industry report.

Industry Definition and Segmentation

Lime is manufactured from limestone and is primarily used as a chemical additive for important end-use industrial applications like metallurgy, construction, chemicals, and environmental. It is a low-cost commodity produced in a large volume.

It is a calcium-containing inorganic mineral compound of oxide and hydroxide that are mainly alkaline in nature. It is a multipurpose chemical that is widely used in the metallurgy industry and is witnessing a rise in demand in the chemical and manufacturing industry.

The lime market comprises segments by type (Quick Lime and Hydrated Lime), application (agriculture, building material, mining and metallurgy, water treatment, and others), and by region (North America, Europe, Asia Pacific, South America, and the Middle East and Africa).

Asia Pacific, North America, and Europe Regions are Driving the Lime Market Growth

The Asia Pacific has the key lime market, followed by North America and Europe. Lime is used as a critical element in the steel manufacturing process. There is an immense demand for steel products in the last few years due to the rising focus and involvement of the governments in China, India, Brazil, and South Africa to construct a strong infrastructure and residences for the growing population in these regions, therefore steel demand has become one of the primary drivers for the lime market development at a global level.

Besides, toxic water consumption by millions of people around the world is resulting in major transmissible diseases like diarrhoea, cholera, and typhoid. Hence, governments and organisations such as the UN and US EPA, have laid down a legal structure to determine the quality standards for drinking water.

The hydrated lime product helps in changing the acidity of industrial and mining wastewater and removes contaminants such as phosphorus and nitrogen therefore its usage in treating water has gained major footing. Likewise, since quicklime product absorbs and neutralises SOx emissions and hence, prevents acid rains, it is used to clean chimney gas released by industries, powerplants, and waste incinerators. Hence, the rigorous environmental conservation requirements are expected to drive the demand for lime, impacting the lime market price globally.

A large amount of carbon dioxide, one of the greenhouse gases, is generated during the production process of lime which results in global warming and various disasters. To add further, its product manufacturing is an extremely energy-concentrated process which in turn adds to the industry’s global carbon footprint.

Category Management Studies

Lime is produced from the key raw materials, limestone, and chalk when exposed to temperatures above 800 degrees Celsius during the calcination process, which breaks down the carbonate compound into highly corrosive calcium oxide or quicklime and releases carbon dioxide.

The manufacturing of lime comprises various processes such as crushing, pulverising, heating, and hydrating and is called a lime cycle. The procedure for lime production varies according to the required product and application. The first product formed by the lime process is quicklime and hydrated lime is produced by adding water to the quicklime.

Rising Demand from Chemical and Manufacturing Industries is Further Driving the Procurement of Lime

Lime finds its utilisation in a multitude of applications in numerous industry types. Even as it is used majorly in the metallurgy industry, it is facing soaring demand from the chemical and manufacturing industries. Several essential chemicals like sodium alkali, propylene glycol, calcium carbide, cyanamide, citric acid, magnesia, citrates, phenolates, and others are produced in the chemical industry by using the lime product.

Whereas, in manufacturing industries the chemical has huge demand from sugar, refractory, and paper producers. Hydrated lime is a critical product for the alteration of the pH of the sugarcane juice in the sugar refining process. Around 3 percent of the lime solution is included during the synthesis process to steady zirconium oxide production. Therefore, raising the worldwide lime market opportunities.

While the lime product is used for managing the whiteness of the paper by eradicating the contaminations from the raw pulp during the paper production method.

The industry’s regional markets for the industry can be divided into North America, Asia Pacific, Europe, South America, and the Middle East and Africa.

Lime Market Key Players

• Lhoist Group
• Carmeuse Group
• Graymont Limited
• Mississippi Lime Company
• United States Limes & Minerals Inc.
• Linwood Mining & Minerals Corporation
• Minerals Technologies Inc.
• Afrimat
• Sigma Minerals Limited
• Nordkalk Corporation
• Ognyanovo K JSC
• Cape Lime (Pty) Ltd.

Market Landscape

According to the lime market forecast, the market will regain its pre-pandemic demand in the upcoming years as the governments across the world are lifting the restrictions during the last few months of 2020, on various activities like the construction and production of metal products.

Quick lime is dominating the other segments in the lime industry because of its huge demand for steel manufacturing, while the hydrated lime is largely utilised in the flue gas treatment process across numerous coal fire plants, glass, and cement industries, and waste furnaces. It is also used as a flocculant for the treatment of sewage and water, facilitated by its low cost and exceptionally low toxicity. This in turn is leading to the advancement of the hydrated lime market.

Additionally, the steel industry is the largest consumer of calcium hydroxide and at present uses, more than 35 percent of lime is produced globally. Also, lime is used to produce copper ore, manufacture alumina, and magnesia that is further used in aluminium and magnesium.

It is an important compound used to improve the pH of agricultural soil to stimulate elevated crop harvest. It is used in mortar and plaster due to its high level of plasticity, workability, and adhesion properties and is used to treat industrial and mining water in the construction industry.

Moreover, due to the strong pollution control laws implemented by the governments in the United States, China, and India, the demand for lime to treat the water for consumption of people is growing at a higher speed.

Key Initiatives by Companies

• In May 2020, Lhoist North America got an added authorisation consent from the Texas Commission on Environmental Quality for building a new energy-efficient lime furnace at its New Braunfels, Texas facility which is helping the company to start the construction on the noteworthy extension at the facility.
• In December 2019, Graymont reopened its Charbon lime plant, situated in New South Wales which has about 10,000 tonnes of quicklime and 5,000 tonnes of hydrated lime storage capacity. The organisation is aiming to immediately reopen some 70,000 tonnes of quicklime and 50,000 tonnes of hydrated lime capacity at Charbon to meet the rising market demand. Such additions and steps will produce substantial indirect profits and employment prospects that would promote the regional businesses and society.