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Lime Market Revenue to Cross USD 89.8 billion, Globally, By 2031 | Registering at a CAGR of 5.4% Says, TMR – Yahoo Finance

Increase in demand for lime in construction applications due to the rise in preference for lime-based materials and products in the construction industry is propelling market expansion. North America is expected to provide a significant share of the global lima market opportunities to regional and global manufacturers.
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:
Report Coverage
Details
Market Revenue
US$ 55.9 Bn
Estimated Value
US$ 89.8 Bn
Growth Rate – CAGR
5.4%
 
Forecast Period
2023-2031
No. of Pages
273 Pages
Market Segmentation
Product Type, End-use,
Regions Covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies Covered
GP Group, Sigma Minerals Ltd., Lhoist, Carmeuse, Graymont, Cheney Lime & Cement Company, Linwood Mining & Minerals Corporation, Pete Lien & Sons, Cape Lime (Pty) Ltd., Valley Minerals LLC, United States Lime & Minerals, Cornish Lime, Nordkalk Corporation, Minerals Technologies
Lime Market: Key Players
Graymont announced plans to expand its Victoria, Australia, operations to deliver higher lime volumes with low emissions. The company confirmed that it is proceeding with planning and detailed engineering for a significant expansion and diversification of its operations in southeastern Australia, to meet the increased lime demand in the Victoria region and other burgeoning markets in eastern Australia.
Mississippi Lime Company (MLC), an HBM Holdings company headquartered in St. Louis, acquired Singleton Birch, the leading independent supplier of lime products in the U.K. The acquisition is part of MLC’s strategy to drive growth, innovation, and sustainability through geographic expansion and new products and technologies that proactively address customers’ changing needs.
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
Global lime market to generate absolute dollar opportunity worth US$ 89.8 billion until 2031
The market from 2023 to 2031 is expected to grow at a CAGR of 5.4%
Global lime market is currently valued at US$ 55.9 billion in 2022
Global lime market stood at US$ 58.8 billion in 2023.
From 2018 to 2022 a 4.9% CAGR was registered for the lime market
North America is said to have a market share of 56.9%
Asia Pacific market region is estimated to have a market share of 22.1%

Lime Market: Growth Drivers
Demand for building and construction materials has increased in the past few years owing to the rise in population, industrialization, and urbanization. Governments of various developing countries are focusing on expanding infrastructure, which is fueling the building & construction industry.
Surge in population and rise in urbanization have increased infrastructural activities not only in developing countries but also in several developed countries. 2019 data says that the global building industry has poured cement into building and construction projects which is the equivalent of 19,000 bathtubs solely for construction purposes.
Primary resource that ensures the survival of all life on Earth is water although having access to water, sanitation, and hygiene is a fundamental human right, billions of people struggle daily to get even the most basic services.
Humans are the primary cause of water pollution; more than 80% of the wastewater results from human activities dumped in rivers or the sea without any wastewater treatment, which leads to contamination.
Lime Market: Regional Landscape
North America accounted for a significant share of the global market in 2022. Region's demand for lime is driven by various factors, including infrastructure development, construction projects, and agricultural practices.
Lime is extensively used in construction materials, water treatment, soil amendment, and industrial applications. The U.S. and Canada are major contributors to the lime market in North America.
Asia Pacific is experiencing rapid growth in lime consumption due to its expanding construction and infrastructure sectors. Countries such as China, India, and Japan are the major contributors to the lime market in the region. Increase in urbanization, industrial development, and agriculture practices are driving demand for lime-based products in Asia Pacific.

Lime Market: Segmentation
Product Type
Quicklime
Slaked Lime
End-use
Chemical Intermediates
Metallurgical
Construction & Environment
Agriculture
Glass
Paper & Pulp
Others

Regions
North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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Transparency Market Research Inc.
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