The U.S. lime market was estimated to be valued at more than US$ 3.1 billion in terms of revenue in 2022 and is predicted to grow at a CAGR of 5.1% during the forecast period (2023 to 2030). Growing end-use industries such as construction and steel, among others, is expected to further boost the growth of the U.S Lime market. Lime is calcium hydroxide and is derived from quicklime and hydrated lime. It is a calcium-containing inorganic product and is mainly composed of calcium oxide. Lime products are considered as ideal building and engineering materials. Moreover, lime along with the ferrous sulfate is also used in wastewater treatment. Some of the other major end-user industries of lime are construction, the food industry, agriculture, and the steel industry. Furthermore, it is also used as a key ingredient in the manufacturing of various inorganic and organic chemicals in the chemical industry.
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Browse 30 market data tables* and 24 figures* on “U.S Lime Market” - Forecast to 2030.
Driver
The growing mining industry in the U.S. country is expected to augment the market growth of lime. According to U.S. Geological Survey 2022, U.S. mines produced approximately US$90.4 billion in mineral commodities in 2021 which means a $9.7 billion increase over the 2020 revised total of $80.7 billion. Moreover, the estimated value of U.S. production of all industrial minerals in 2021 was $56.6 billion, which is 63% of the total value of U.S. mine production value. Therefore, growth in the mining industry in the country is expected to bolster the market growth of lime.
Market Opportunities
The rising production of steel crude products in the U.S. is projected to provide enormous growth opportunities to the market of lime. According to the WorldSteel, U.S. association produced 26.1 million tons of steel during January to April 2023. Additionally U.S ranked as 4th in top 10 steep producing countries. Therefore, the rising production of the steel crude product in the U.S. is expected to offer potential opportunities to the market of lime.
Market Restraints
The availability of lime replacements such as limestone and magnesium hydroxide calcined gypsum, which is widely employed in a variety of applications such as sulfur removal, agriculture, and fluxing, is projected to limit the lime market growth. Furthermore, the lower cost of limestone compared to lime fuels its increasing popularity as a lime substitute. This is projected to constrain lime market expansion throughout the forecast period.
Key Takeaways
On the basis of product application, chemicals dominated the U.S. lime market in 2022 with around 33% of the market share in terms of revenue, followed by metal, respectively.
Market Trends
The increasing use of lime as a filler in the pigment manufacturing procedure in the paints and coatings sector is likely to stimulate lime market expansion. Growing demand for lime from the furniture sector, where it is used as a neutralizer to neutralize acid throughout the production process, is expected to drive market expansion in the United States over the forecast period. Manufacturers' expanding emphasis on strengthening lime production capacity to suit increased demand from wastewater treatment, steel manufacturing, soil modification, and metallurgical applications is anticipated to accelerate market growth. Different companies in the country are also forming strategic agreements with foreign players in order to expand their regional and global impact, therefore is projected to drive market growth.
U.S. lime Market - Impact of Coronavirus (Covid-19) Pandemic
Mandatory shutdowns implemented by governments across the globe in order to stop the spread of COVID-19 have hit the U.S. lime market during the first quarters of 2020. This in turn is expected hamper to the growth of the U.S. lime Market for a short-term period till 2021.
Competitive Section
Company Names
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- Carmeuse
- The United States Lime & Minerals, Inc.
- Cheney Lime & Cement Company
- Lhoist, Linwood Mining & Minerals
- Pete Lien & Sons, Inc.
- Mississippi Lime Company
- Graymont Limited
- Valley Minerals LLC
- Segmentation
- By Product Type
- Quick Lime
- Hydrated Lime
- By Application
- Cement Manufacturing
- Metal Manufacturing
- Chemical
- Water Treatment
- Flue Gas
- Others
- Fertilizer
- Pulp & Paper
- Others
- By Region
- Northeast
- Midwest
- South
- Western
- By Product Type
