Limestone Market, By Application (Industry Lime, Chemical Lime, Construction Lime, Refractory Lime), By End User Industry (Paper and Pulp, Water Treatment, Agriculture, Plastics, Building and Construction, Steel Manufacturing and Other Industries (Including Energy), Other End-user Industries), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jan 2023

Code : CMI5510

Pages :126

Formats :

Excel and PDF

Industry : Advanced Materials

Market Challenges And Opportunities

Global Limestone Market Drivers:

Growing Demand from Construction Sector to Propel Market Growth

Owing to the thermal resistance, high strength, long durability, and resistance to corrosion, limestone is consider to be an ideal material for construction applications. Limestone is a highly valued stone used by architects for traditional and contemporary projects. According to Economic Times, in 2020, the total real estate investment in China, which is chiefly concentrated on the residential and commercial sectors and office spaces, witnessed a growth of about 7.0% Y-o-Y over 2019.

Increasing Steel Production Capacity to Augment Market Growth

According to the World Steel Association (Worldsteel) estimations, the global steel demand is estimated to grow by 5.8% to reach 1874 million tons in 2021 from 1771.8 million tons in 2020. The United States is the fourth-largest steel producer in the world, with the crude steel production increasing to 42 million tons in first half of 2021, posting a 15.5% growth when compared to the first half of 2020.

Global Limestone Market Restraints:

Health Hazards Associated With Calcium Carbonate and Environmental Restrictions

Limestone dust can be irritant to the eyes, nose, mucous membrane, and skin of humans while contact of limestone with skin causes skin irritation. Moreover, chronic exposure to limestone may pose a silicosis risk, due to presence of 3% to 20% of quartz in it.

Lack of Regulatory Standards May Limit the Potential of the Market

The lack of regulatory norms is expected to restrict the market growth. Nevertheless, the market is expected to see positive growth over the forecast period.

Global Limestone Market Opportunities:

Upcoming water and wastewater treatment projects where limestone is used as water and wastewater treatment chemical globally is expected to bring lucrative growth opportunities. For instance, in July 2021, The Decentralized Wastewater Grant Act was passed in America, which includes installing or upgrade individually-owned decentralized wastewater systems. The bill would make available USD 100 million for decentralized wastewater projects each fiscal year from 2022 through 2026, totaling USD 500 million. Similarly, in 2019, China’s 13th fifth-year plan on urban sewage treatment and water recycling facilities is planning to increase by 31%, from CNY 427 billion to CNY 559 billion, on its water treatment facilities over the coming years.

Increasing use of limestone for producing caustic soda is again projected to serve major growth opportunities. According to the American Chemistry Council, the caustic soda production capacity in North America is likely to increase from 16.25 million metric ton per year in 2018 to 16.91 million metric ton per year in 2023.