Lime Market – Increase in Steel Business Worldwide is Expected to Lead the Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 2.4% from 2022 to 2028

  • Lime Market

As stated in our extensive report; the Global Lime Market accounted forUSD 38.5 Billionin 2021.

Lime is generally used as a chemical additive derived from Lime stone. Lime is a commodity mineral with high volume and low cost. The production of Lime is followed by several phases, such as crushing, pulverizing, heating, and hydrating. The application of Lime encompasses manufacturing of cement, processing of metal, and processing of papers, etc. there are two types of Lime available, hydrated Lime and quickLime, that are used for the several applications mentioned above. The increasing demand for Lime is expected to lead the Global Lime Market.

Over the past few years, the production of minerals has been increasing considerably due to the increasing requirement for ferrous and non-ferrous metals. Therefore, one of the prime applications of Lime is to remove impurities from the metals such as gold, silver, steel, copper, lead, and alumina; as the developments of metal industries are increasing Lime demand. Therefore, this application of Lime is segmented to lead the Global Lime Market growth.

The Lime is alkaline. Hence, it can neutralize industrial acids as well as natural acids. This can produce inert solid waste that can be disposed of. Furthermore, we can recycle this inert solid waste to make other natural resources. This way, we can use Lime more ecologically to protect the environment. Therefore, the government promotes this application of Lime on a large scale, increasing the demand for Lime.

The Lime stone and magnesium hydroxide calcined gypsum is the best alternative for Lime. However, the increasing preference for the utilization of this alternative is a restraint for the growth of the Global Lime Market. Furthermore, another restraint for the Lime Market is the minimum time for storing Lime, as its physical and chemical characteristics change if it is stored for a longer time. These factors challenge the global growth of the Lime Market.

The regions such as are anticipated to lead the market growth of the market as mineral and metal production development is witnessing a significant increase in the regions. Therefore, this region is expected to grow the Lime Market at an exponentially increasing compound annual growth rate.

Some of the key and prominent players in the Global Lime Market include- Adelaide Brighton Limited, Boral Limited, Sibelco Australia Ltd, Omya Australia Pty Ltd., Lime Group Australia, Wagners, Agricola Mining Pty Ltd., Calcimo Lime & Fertilizers Pty Ltd, CARMEUSE, United States Lime & Minerals Inc., Cheney Lime & Cement Company, Lhoist., Linwood Mining & Minerals Corp., Pete Lien & Sons Inc., Mississippi Lime Company., Graymont Limited., Valley Minerals LLC., Shanxi Jianqiang Active Lime Manufacturing Co., Shandong Zhongxin Calcium Industry Co. Ltd., and others.