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Lime Market Revenue to Cross USD 89.8 billion, Globally, By 2031 … – GlobeNewswire

| Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, June 28, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – Global lime market stood at US$ 55.9 billion in 2020 and the global market is projected to reach US$ 89.8 billion in 2031. Global lime industry is anticipated to expand at a CAGR of 5.4% between 2023 and 2031.

Research and development on innovative applications and improvement in product quality offer lucrative opportunities to market players. Companies are now focusing on identifying new uses, optimizing production processes, and educating customers about the advantages of lime in construction and other industries.
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Market Snapshot:
Lime Market: Key Players
Limestone is primarily used to manufacture lime, where it is heated to form calcium oxide and carbon dioxide from calcium carbonate. Carbon Dioxide produced in the process is a greenhouse gas leading to numerous calamities and global warming that results in drastic consequences, as, this production process is highly energy-intensive, which increases the overall carbon footprint of the industry.
Hydrated products can change the acidity of industrial and mining wastewater and remove toxins such as phosphorus and nitrogen where its usage in water treatment has gained tremendous traction. Quicklime is utilized to treat chimney gas from industries, power plants, and waste incinerators due to which it absorbs and neutralizes SOx emissions and thus, prevents the occurrence of acid rains. Such factors where the product demand is projected to be driven by stringent environmental conservation obligations.
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Key Takeaways of Market Report
Lime Market: Growth Drivers
Lime Market: Regional Landscape
Lime Market: Segmentation
Product Type
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